Does anyone have any experience with Prosper for a Cash ISA?

borderline

no longer available https://www.prosper.co.uk/products/cash-isa

Due to overwhelming demand the Prosper cash ISA is no longer available to new members. Please take a look at our other great value products.

Prosper Cash ISA

Our next cash ISA rate will launch in the new tax year

SFCooper

https://forums.moneysavingexpert.com/discussion/comment/81949671#Comment_81949671

Prosper don’t allow transfers in? Did you withdraw the cash from T212 and then deposit?

aroominyork

https://forums.moneysavingexpert.com/discussion/comment/81949787#Comment_81949787

I did withdraw it. Both were flexible ISAs. https://www.gov.uk/government/publications/tax-free-savings-newsletter-17/tax-free-savings-newsletter-17-july-2025 confirms that is allowed.

https://forums.moneysavingexpert.com/discussion/comment/81949769#Comment_81949769

I already have a Prosper ISA. I want to add to it. The question is about the rate I will get.

MisterMotivated

That's disappointing. I was looking at opening one earlier this morning (though can't fund until Monday), and was considering which regular savers to close to get the £10k initial deposit. Oh well…

aroominyork

I asked Prosper's bot. It answered "If you add funds to your existing Cash ISA in the new financial year, those funds will earn the standard variable rate, not the boosted 4.6% rate. Boosts like 4.6% are only available when opening a new eligible account or during specific promotions, and cannot be applied to existing accounts. You can always check your current rate and any available offers in the Prosper app."

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/81949893#Comment_81949893

If true, that would be a whole new level of sneakiness.

crumpet_man

https://forums.moneysavingexpert.com/discussion/comment/81949893#Comment_81949893

I cannot see anything in the terms on my Prosper cash ISA that state the above. For the next 11 ish months, my Prosper cash ISA has a boosted rate and I expect any funds added to it in that period to earn the same interest rate as funds already in the account.

aroominyork

I've clarified to the bot that I already have the boost and I now have the answer I want. "Your boost applies to your Cash ISA account as a whole, not just the initial deposit. This means any new funds you add while your boost is active should also benefit from the boosted rate, as long as your account meets the boost terms."

Beddie

I tried to open one yesterday, but it had to be funded by at least £10k upon opening and I had no allowance left, like many of us.

I expected it to close before the new tax year, as they would have been inundated!

I have a SIPP with them and am happy with the service, so hopefully they will bring in another decent rate soon enough.

sammy_zammy

Oh! Well that makes my decision over whether to use them easier I guess. I wasn’t sure about the £10,000 minimum anyway, and was ready for nowhere to accept transfers from them in a year’s time…