Zopa savings pots

where_are_we

I advised "fistfulofsteel" to withdraw the bulk of the £60K from his flexible cash ISA and then replenish it back in the same ISA in the same tax year so that it does not lose it`s ISA status. This is what I intend doing with my around  £40K flexible cash ISA built up over previous years because I have withdrawn lots of cash from it to fund the plethora of recent RS`s.
"Slinky" - are you saying this is not possible?

fistfulofsteel

It's not a flexible ISA, but I might look into transferring it into one that is and then exploiting the flexibility rule, which I had forgotten about. Thank you.

Ch1ll1Phlakes

Zopa offer no longer available (and removed from MSE best savings page)

where_are_we

fistfulofsteel said:

It's not a flexible ISA, but I might look into transferring it into one that is and then exploiting the flexibility rule, which I had forgotten about. Thank you.

I assumed wrongly that your Moneybox cash ISA was flexible. Then transfer to a flexible ISA if you want to preserve your £60K ISA status and then afterwards you will able to withdraw and replenish into the same flexible cash ISA in the same tax year like I suggested.
Flexible cash ISA`s are valuable because of being able to replenish and keep ISA status
I have just looked at the Moneybox cash ISA, and while they highlight unlimited withdrawals, there is no mention of "flexible" or "non flexible".
Unaware savers might be best served if ISA providers had to highlight whether their product is "Flexible " or "Non Flexible".

Slinky

where_are_we said:

I advised "fistfulofsteel" to withdraw the bulk of the £60K from his flexible cash ISA and then replenish it back in the same ISA in the same tax year so that it does not lose it`s ISA status. This is what I intend doing with my around  £40K flexible cash ISA built up over previous years because I have withdrawn lots of cash from it to fund the plethora of recent RS`s.
"Slinky" - are you saying this is not possible?

Oh I'm not so sure now. It would appear you can do this if you have a flexible ISA, but if it's non flexible ISA, you can't now.  Proceed with caution I think!

Qyburn

fistfulofsteel said:

It's not a flexible ISA, but I might look into transferring it into one that is and then exploiting the flexibility rule, which I had forgotten about. Thank you.

Zopa's ISA is flexible.

ToastLady

Qyburn said:

fistfulofsteel said:

It's not a flexible ISA, but I might look into transferring it into one that is and then exploiting the flexibility rule, which I had forgotten about. Thank you.

Zopa's ISA is flexible.

Just bear in mind that they don't allow partial transfers out, read the t's and c's. Not against Zopa ISA, I had EA ISA for a while, but didn't do fixed with them too, as you are kind of stuck unless you take a penalty on the fixed if you want to do a transfer.