Help understanding how ISA accounts transfer across financial years?

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81914604#Comment_81914604

For fixed term/fixed rate savings accounts ( ISAs or not) this is the norm. So if you want to add monies at intervals, normally you can not have one of these accounts.

However a handful of providers will allow new deposits during the fixed term for fixed rate ISA's only, but usually will only accept transfers in at the start. Ones that are mentioned on the forum are: Shawbrook Bank ; Barclays; Lloyds and Halifax. You will need to check the T's and C's carefully though because sometimes things can change.

EverythingCounts

https://forums.moneysavingexpert.com/discussion/comment/81914499#Comment_81914499

Thank you for the reply and information, appreciated. I am planning to put some time aside to read up on ISAs to get as clued up as I can, I’m fairly new to them so still learning.

EverythingCounts

https://forums.moneysavingexpert.com/discussion/comment/81914604#Comment_81914604

My current ISA is with Lloyds and is described as a Fixed Rate Cash ISA 1 year - Monthly. I believe the monthly relates to the frequency I receive the interest. Since opening it I’ve been able to pay amounts into it whenever I like throughout the past 12 months, last payment in was just a couple of weeks ago, so no restrictions in paying into it.

However, they have offered me to transfer to an account named Fixed Rate Cash ISA on either a 1 or 2 year fixed term. Having read the terms for these accounts it appears you have 30 days to pay in funds after opening it. Which is no good to me as I want to be able to add to it as I go month by month.

soulsaver

Yes - Lloyds changed their policy to then disallow ongoing contributions for fixes opened after May 2025.