confused ISA maturing and wanted interest then re invest

Vegastare

I had a chat with Building Society y.day to reivest my cash isa for another 2 years and asked for the interest to be put in my easy access saving acc I have with them. ( this was set up years back for the purpose of placing interest from past maturing Isa )

I was told I could not do this as my maturing isa is above £20,000 amount, I explained that I thought this was not the case as it was a reinvestment only, but I was told it was a new investment as I was withdrawing from it.  

I know that I did this on previous occasions - but realising I was getting no where gave up with the few of travelling the 68miles round trip to nearest branch on Saturday morning.

I thought that the ISA yearly limit was for new ISA not reinvesting maturing ones.

Am I right or wrong.  I am so confused.

It would be so much easier to do this over phone.  What should I actually ask for.

Many thanks

jimjames

The annual ISA limit is for money paid into an ISA not transfers. Maybe you confused things by asking for the interest to be paid out to your bank. Any reason you didn't want to keep it in the ISA to stay growing tax free?

Vegastare

jimjames said:

The annual ISA limit is for money paid into an ISA not transfers. Maybe you confused things by asking for the interest to be paid out to your bank. Any reason you didn't want to keep it in the ISA to stay growing tax free?

I thought that I may have confused things.
The reason I wanted the interest earned was to have money put bye in savings for access when needed ie Xmas hols replace things.  My interest would not earn the amount for tax (£1000) year I think.
The savings account with this society was set up for this purpose - that why I am confused

Many thanks

slinger2

Can't you let the 2-year ISA mature into an easy access ISA. Then you cold withdraw anything you wanted and after that you could transfer it into another fixed-rate ISA if you wanted.

saajan_12

Which building society and what other ISA products do they offer? If they have an easy access one, can you transfer it to that when it matures, withdraw whatever you want, and then invest it in a new fixed term? Could even look at a new fixed term with any other provider if this one is becoming inconvenient. 

Vegastare

After two phone calls - it is all sorted.  First person seemed really unsure so after digesting what was said I phoned again and person was on my wave length and all sorted.

Many thanks for you replies