Shawbrook Cash ISAs - multi-year option allowing allowance?

boco803

Is it the case, and indeed is it still the case, that with Shawbrook's range of cash ISAs beyond the 1 year fixed term, one can still can new funds every tax year?

Usually with fixed term ISAs, you can only add funds with a certain window of time, but I'm sure I read here that Shawbrook allows you to add in every year?

soulsaver

boco803 said:

Is it the case, and indeed is it still the case, that with Shawbrook's range of cash ISAs beyond the 1 year fixed term, one can still can new funds every tax year?

Usually with fixed term ISAs, you can only add funds with a certain window of time, but I'm sure I read here that Shawbrook allows you to add in every year?

Cash ISAs: The Best Currently Available List - Page 825 — MoneySavingExpert Forum

You could read it in their terms, too.

boco803

Thanks @soulsaver - so you most definitely should be able to add new funds every tax year and maybe even transfer-in?

Albermarle

boco803 said:

Thanks @soulsaver - so you most definitely should be able to add new funds every tax year and maybe even transfer-in?

You can add new money at any time, up to the £20K ISA limit per tax year. 
Transfers in after the initial window are only allowed at their discretion.

Clearly if you had a fixed rate of 5% and later interest rates dropped, many people would try to transfer in, some with large amounts. So in that case a transfer would almost certainly be blocked.

For info this concession of adding new money at later stages does not extend to their non ISA accounts.

boco803

Thanks @Albermarle - makes sense.