Withdrawing cash from a Fixed ISA

Mazydizzle

Hi all, I was wondering what the best way to get some cash out of my fixed ISA. It’s about to mature and they don’t allow partial withdrawals so I would have to close it. So I’m thinking maybe wait till it matures, transfer it to a cash ISA, take some cash out, and then immediately transfer it again to another fixed ISA to get the best interest and not lose too much interest.

is that possible?

Are there any better suggestions you might have?

thanks

Mario

jimjames

If it's near to maturing and you can wait then definitely don't draw out before as you'll likely pay a penalty. Just make sure it moves into instant access ISA on maturity, take out what you want and then move to new product.

clairec666

Wait until the ISA matures. You should be offered some "maturity options" - e.g. start a new fixed-rate ISA, or turn into an easy-access ISA. Make sure you choose the easy access option. Then you can make a withdrawal without paying a penalty.