Moving Cash ISA

ronsglider

Recently opened a cash ISA paying 4.8% if rate drops are you fround upon by banks if you bounce it around within a short amount of time I.e a couple of months.

 

friolento

You are free, by law, to request transfers for your ISAs any time you like. It’s free of charge for easy access ISAs, but comes with an interest penalty for fixed term ones.

There are some providers, e.g. Monument and Chip, who will never let you open another ISA if you transferred one out in full. I am not sure whether these allow partial transfers out.  Some are also taking ages to process ISA transfers. You need to check their T&Cs, and also check the MSE Forum for lived experiences. Generally, I dislike companies who make it difficult to get at my own money.

Johnny-Cage

Never transferred out an ISA soon as you request a transfer is your current ISA locked out from withdrawing 

Albermarle

Johnny-Cage said:

Never transferred out an ISA soon as you request a transfer is your current ISA locked out from withdrawing 

Probably not straightaway, but personally I would not potentially cause problems with the transfer by withdrawing money out during the process. 

ronsglider

Another ISA i have just dropped  from 4.83%  to 4.1%.Trying to get the timing right. If it drops I can move it to Santander Fixed 1 year 4.25%