Confused about ISA maturity and transfer

kaMelo

eskbanker said:

kaMelo said:

That quite a serous omission on Trading 212's part

Are you suggesting that there's some sort of regulatory obligation to offer that facility?  Bear in mind that ISA managers aren't even required to accept transfers in at all....

Obviously not, there is no regulatory requirement to offer transfers, but the fact they do whilst not allowing deferral could have a significant impact and make a market leading rate much less attractive than it appears on the surface.

eskbanker

kaMelo said:

eskbanker said:

kaMelo said:

That quite a serous omission on Trading 212's part

Are you suggesting that there's some sort of regulatory obligation to offer that facility?  Bear in mind that ISA managers aren't even required to accept transfers in at all....

Obviously not, there is no regulatory requirement to offer transfers, but the fact they do whilst not allowing deferral could have a significant impact and make a market leading rate much less attractive than it appears on the surface.

Perhaps it's not a coincidence that they offer a market-leading rate while using a simple transfer process!

Anyway, unless OP is planning to transfer into T212, this is probably more of a digression than they wanted - the point remains that not all ISAs allow (a) transfers in at all and (b) these to be deferred, so it's incumbent on any customer to check that their chosen product can support what they wish to do....

PeskyBlunder

Virgin emailed me about 10 days before my most recent fixed rate ISA matured. I suspect that if you don't do anything it will get rolled over to a variable rate ISA paying a very low interest rate. I let mine do that and then transferred out to another provider where I had already opened another fixed rate ISA in readiness - it took a couple of days.

Bl1tvig

I have a maturing 2025 ISA can I transfer it even though I use my 2026 allowance, If so how dos that work?

eskbanker

Bl1tvig said:

I have a maturing 2025 ISA can I transfer it even though I use my 2026 allowance, If so how dos that work?

Better to use the normal description of tax years, i.e. 2024/25, 2025/26, etc, but yes, transfers don't affect, and aren't affected by, current year contribution limits, provided they're properly executed using the receiving provider's ISA transfer process.