ISA Transfer confusion

Fifelady

Hi I have a 2 year cash ISA with UBL bank maturing on the 8th April, I would like to transfer to money box. UBL is saying if they do not have my instruction by the 8th April my money will go into another 2 year fixed ISA though I will have a 14 day cooling off period. Money box say I should wait till the maturity date to initiate the transfer with them and the process takes 15 days. This is going to be outside my 14 day cooling off period. UBL do not appear to have any easy access ISA’s. Any advice please.

masonic

15 working days is the maximum timeframe permitted. It could be quicker, but there are no guarantees. Moneybox would have 5 working days to get the request to UBL, and that should be accepted as notification under the cooling off period. But if you are concerned, why not transfer the UBL ISA at maturity to an easy access ISA at a mainstream bank, such as one you already have a relationship with. They will have options to delay until maturity and the transfer ought to happen fairly quickly to there. Then you can transfer again to Moneybox.

FrugaiMacDugal

''UBL is saying if they do not have my instruction by the 8th April my money will go into another 2 year fixed ISA''

That will be the default action, if they do not hear from you.

You should contact them and instruct them to transfer to an easy access ISA, then transfer out.