Change to the Flexible ISA Regulation (5DDB) dated 15 July 2025

clairec666

proudgecko said:

I’m still confused after reading this.
i have a principality flexible 5 access ISA that I opened earlier this year, I have transferred in two previous years subscriptions. I havent used any of this year subscription at all
i have withdrawn a chunk from the Principality ISA hoping to replace it before the end of tax year

but I notice Principality have released a new issue of the ISA at a better interest rate

Can I open the new issue and transfer the current balance and still replace to the new issue ?

If not, can I open the new issue, transfer most of the balance and replace to the old issue, then transfer the remaining balance to the new Issue ?

or at I stuck with this ISA until after I replace?

If you've withdrawn previous years' subscriptions, it has to be returned to the same ISA. So your original Principality ISA will have to remain open in order for you to replace the money.

If you open the new issue, then attempt the internal transfer, then Principality will only do a full transfer, meaning your original account will be closed. This is from personal experience.

You may be okay if you message Principality asking them to "upgrade" your ISA to the new issue, in which case it will keep the same account number. I suggest checking with Principality first though.

Ch1ll1Phlakes

proudgecko said:

I’m still confused after reading this.
i have a principality flexible 5 access ISA that I opened earlier this year, I have transferred in two previous years subscriptions. I havent used any of this year subscription at all
i have withdrawn a chunk from the Principality ISA hoping to replace it before the end of tax year

but I notice Principality have released a new issue of the ISA at a better interest rate

Can I open the new issue and transfer the current balance and still replace to the new issue?

If not, can I open the new issue, transfer most of the balance and replace to the old issue, then transfer the remaining balance to the new Issue ?

or at I stuck with this ISA until after I replace?

clairec666 said:

If you've withdrawn previous years' subscriptions, it has to be returned to the same ISA. So your original Principality ISA will have to remain open in order for you to replace the money.

If you open the new issue, then attempt the internal transfer, then Principality will only do a full transfer, meaning your original account will be closed. This is from personal experience.

You may be okay if you message Principality asking them to "upgrade" your ISA to the new issue, in which case it will keep the same account number. I suggest checking with Principality first though.

As @clairec666 says previous year contributions that have been flexibly withdrawn must be returned to the original ISA.

However, if Principality have issues around the upgrade option and the flexibly withdrawn funds, if it's possible, replace the withdrawn funds, upgrade the ISA then you can withdraw again. This should hopefully only take a few days as it's just Principality upgrading the account rather than a transfer. But again, contact Principality for more details and if the upgrade would effect the withdrawn funds.

masonic

proudgecko said:

I’m still confused after reading this.
i have a principality flexible 5 access ISA that I opened earlier this year, I have transferred in two previous years subscriptions. I havent used any of this year subscription at all
i have withdrawn a chunk from the Principality ISA hoping to replace it before the end of tax year

but I notice Principality have released a new issue of the ISA at a better interest rate

Can I open the new issue and transfer the current balance and still replace to the new issue ?

If not, can I open the new issue, transfer most of the balance and replace to the old issue, then transfer the remaining balance to the new Issue ?

or at I stuck with this ISA until after I replace?

Principality does not support portfolio ISAs, so you must replace before you fully transfer if you want to replace at all. If they support partial internal transfers, then that could be an option.

surreysaver

proudgecko said:

I’m still confused after reading this.
i have a principality flexible 5 access ISA that I opened earlier this year, I have transferred in two previous years subscriptions. I havent used any of this year subscription at all
i have withdrawn a chunk from the Principality ISA hoping to replace it before the end of tax year

but I notice Principality have released a new issue of the ISA at a better interest rate

Can I open the new issue and transfer the current balance and still replace to the new issue ?

If not, can I open the new issue, transfer most of the balance and replace to the old issue, then transfer the remaining balance to the new Issue ?

or at I stuck with this ISA until after I replace?

Just message Principality asking them to convert your existing ISA to the new issue. It will remain the same ISA, with the same account number and everything. 
I have done this on numerous occasions with Principality.
You will need to confirm in your message that you agree to the T&Cs of the different issue. If you don't, they'll send a message back asking you to do this.

Which issue can you see? All I can see is the same one they've had for a while at 4.2%? It was 4.4%

clairec666

masonic said:

proudgecko said:

I’m still confused after reading this.
i have a principality flexible 5 access ISA that I opened earlier this year, I have transferred in two previous years subscriptions. I havent used any of this year subscription at all
i have withdrawn a chunk from the Principality ISA hoping to replace it before the end of tax year

but I notice Principality have released a new issue of the ISA at a better interest rate

Can I open the new issue and transfer the current balance and still replace to the new issue ?

If not, can I open the new issue, transfer most of the balance and replace to the old issue, then transfer the remaining balance to the new Issue ?

or at I stuck with this ISA until after I replace?

Principality does not support portfolio ISAs, so you must replace before you fully transfer if you want to replace at all. If they support partial internal transfers, then that could be an option.

I don't think they allow partial internal transfers - when I asked a few months back if they'd internally transfer my ISA, they said it would have to be in full.