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Combining ISA's
Hi all,
I currently have a Trading212 Cash ISA worth £20,300, earning 4.5%. I'm considering opening a new Cash ISA with Tembo on April 6th, which offers a 4.8% interest rate, and plan to fund it with £20,000 from my savings.
My question is: once I open and fund the new ISA, will I still be able to transfer my existing Trading212 ISA into it?
Comments
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If it is an easy access ISA, yes you can.
Suggest you spend some time reading through the forum as there are hundreds of threads about ISA transfers and the rules around them.1 -
If you want to transfer, never withdraw money from a cash ISA! You'll immediately lose all the lasting tax benefits.
Instead, speak to the new provider and fill in an ISA transfer form. Your new provider should then sort it all out, including moving the money over for you – keeping your ISA cash permanently tax-free.
1
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