moving money

patsy43

i have 20000.00 in a flexible isa this years allowance  but the interest has gone down can i move this in to a isa with a beater rate also what happens to interest all ready earned 

FrugaiMacDugal

Yes, any interest will be added at closure and transferred.

You must get new provider to do the transfer to maintain ISA status.

It's expected to be an interesr rate cut today, so offers may change.

Ayr_Rage

Yes, in most cases the interest is credited on transfer and moves with the capital in the ISA wrapper.

Not all companies pay their headline rate on transfers in, check carefully.

As the base rate is likely to be reduced today keep a careful eye for changes in ISA rates.