Mse isa guide maybe incorrect? Or is it me?

GoldenOldy

Good afternoon
I have just looked at martins best buy isa guide. A 5 year isa by nottingham building society shows on the site as having 365 days interest penalty should you withdraw. However nottinghams site says you may not withdraw at all until 2030, although you can transfer into another isa. Can anyone help clarify please

Middle_of_the_Road

GoldenOldy said:

Good afternoon
I have just looked at martins best buy isa guide. A 5 year isa by nottingham building society shows on the site as having 365 days interest penalty should you withdraw. However nottinghams site says you may not withdraw at all until 2030, although you can transfer into another isa. Can anyone help clarify please

A fixed rate cash ISA provider has to permit access to the funds you've deposited. This usually involves closing the account and paying a hefty fee.

Barkin

You'd need to transfer out (and pay the 365 days interest penalty) to e.g. an easy access account.

GoldenOldy

Thankyou very much Barkin, that has made sense of it for me!

robsalvin

I was in the process of applying for this and they appear to have remove the 5 year fix for online applications (only available in branch). The longest online fix seems to be 2 years.

GoldenOldy

Thanks Rob, what a nuisance! Back to the drawing board.