Cash ISA Transfer

petercoals

I want to transfer my 1 yr fixed rate Cash ISA which matures 23/11/24 to another provider which is currently offering a better rate than the maturity option which has been given to me. However, it seems likely to me that interest rates generally will drop on 7/11 thanks to a Bank of England rate cut. If I open the new account and begin the transfer process before the potential Bank of England rate cut, will my interest rate for the new provider still be guaranteed? I asked Customer Services for the potential new provider and they chose to ignore that part of my message.

Mark_d

Typically the rate is fixed when you open the account rather than when you fund the account..though some accounts require funding at the time of opening

eskbanker

Although the rate might be fixed when opening, there'll generally be a defined window within which you need to fund the account via new money or a transfer, so check what the published terms are for your preferred account.