Are there any ISA providers that allow transfers in of a matured ISA 'mid-term'?

The_Bookman

I have an ISA at 4.93% maturing in August. I would like to secure a fixed-rate ISA at a decent rate now, e.g. today, then transfer the 4.93% on maturity to avoid penalty, but everything I've found so far insist on all transfers in being completed within 30 days.

I'm concerned if I wait another month or more, the rates available today will be gone. Is there a simple solution?

Thanks in anticipation.

Ayr_Rage

In an word, no, unless you can find a fixed rate ISA that allows a longer funding window.

If you want to move that money you'll have to suck up the early closure penalty of the maturing ISA which may result in an overall loss of return.

As for future rates, who knows?

masonic

Shawbrook tends to allow funding throughout the account term. You would still need to add the minimum opening balance to avoid it being closed in the interim.

The_Bookman

masonic said:

Shawbrook tends to allow funding throughout the account term. You would still need to add the minimum opening balance to avoid it being closed in the interim.

Funding, yes, you're correct. But an actual transfer of another ISA is still restricted, I believe, to within 30 days of opening. Thanks.

clairec666

The_Bookman said:

masonic said:

Shawbrook tends to allow funding throughout the account term. You would still need to add the minimum opening balance to avoid it being closed in the interim.

Funding, yes, you're correct. But an actual transfer of another ISA is still restricted, I believe, to within 30 days of opening. Thanks.

ISA transfers in are at their discretion, so it's not guaranteed to be accepted after the 30 days. Also note that their minimum opening balance is £1000, so you would need to be prepared to tie up a spare £1000 on the off chance that they accept your transfer further down the line.

35har1old

The_Bookman said:

I have an ISA at 4.93% maturing in August. I would like to secure a fixed-rate ISA at a decent rate now, e.g. today, then transfer the 4.93% on maturity to avoid penalty, but everything I've found so far insist on all transfers in being completed within 30 days.

I'm concerned if I wait another month or more, the rates available today will be gone. Is there a simple solution?

Thanks in anticipation.

Progressive Building Society will allow transfers and new money in to end of tax year
2yr 4.1%
Branch and post
Deposit a £1 now and when your current ISA matures you can decide whether to proceed with transfer.
Only downside is the branch and post and no online viewing  being available 

refluxer

Shawbrook have been refusing requests to transfer-in to their fixed rate cash ISAs at a later stage in recent months (I know someone personally who this has happened to) so I wouldn't recommend opening one at the moment if that's an important requirement. I'm not even sure there is any kind of funding window for transferring in, as the T&C's state that requests have to be made at the time of application, IIRC.

Shawbrook are, however, one of the few ISA providers who allow you to pay in new subscriptions (up to your annual ISA allowance) throughout the duration of the fixed rate period, which is a good option for those wanting to lock in a rate now and pay in gradually (so not be limited by a short funding window), plus it could prove to be beneficial in the future if you take out a longer fix (>2 years} and rates continue to fall. 

35har1old

refluxer said:

Shawbrook have been refusing requests to transfer-in to their fixed rate cash ISAs at a later stage in recent months (I know someone personally who this has happened to) so I wouldn't recommend opening one at the moment if that's an important requirement. I'm not even sure there is any kind of funding window for transferring in, as the T&C's state that requests have to be made at the time of application, IIRC.

Shawbrook are, however, one of the few ISA providers who allow you to pay in new subscriptions (up to your annual ISA allowance) throughout the duration of the fixed rate period, which is a good option for those wanting to lock in a rate now and pay in gradually (so not be limited by a short funding window), plus it could prove to be beneficial in the future if you take out a longer fix (>2 years} and rates continue to fall. 

At the moment it appears that the 5 year term is best option at 4.18% but the summary does mention transfers in at time of application 
Minimum payment £1000
Only able to operate 1 ISA per tax year with Shawbrook  
Interest rate has gone up from previous issue

Albermarle

In another similar thread, a poster said that LLoyds ( I think) allowed transfers into their fixed term ISAs at any time.
I queried it as would seem to be rather generous of them if rates were falling, but they said they had transferred ISAs in with no problem.

I have had a look at the LLoyds  website and in the FAQs about transfers it says this-

Yes, provided the account has been open for less than 30 days. After this period, you won’t be able to transfer or pay money into it. If you opened your Fixed Cash ISAs before 2nd June, you can continue to transfer or pay money into it.

Sounds like they have woken up to the fact that their terms were a bit overgenerous, unlike their savings rates.