Plum ISA

NebulaNova

Plum would be perfect but don't like the waiting 12 months for the bonus. Prefer it to be credited monthly.

TomJ

https://forums.moneysavingexpert.com/discussion/comment/81949804#Comment_81949804

Have they changed this recently? Per their website :
"Because this is a flexible ISA, you can withdraw money and put it back in during the same tax year without affecting its tax-free status or using up more of your annual ISA allowance."

https://withplum.com/cash-isa#:~:text=Because%20this%20is%20a%20flexible%20ISA%2C%20you%20can%20withdraw%20money%20and%20put%20it%20back%20in%20during%20the%20same%20tax%20year%20without%20affecting%20its%20tax%2Dfree%20status%20or%20using%20up%20more%20of%20your%20annual%20ISA%20allowance.

I also don't see anything about the 3 withdrawal limit mentioned on the Cash ISAs: Best Available thread…

masonic

https://forums.moneysavingexpert.com/discussion/comment/81953251#Comment_81953251

Yes, as per subsequent comments, they've updated their terms in the last few weeks. Those with older accounts may still be under the old terms.

Bigwheels1111

I opened a New Plum easy access ISA yesterday with fresh money.

I do not need easy access anymone, can I take the money out and fund a fresh Tandem 1 year fixed rate.

Please advise.

Thanks in advance.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81953682#Comment_81953682

As the Plum ISA is now flexible and the money is from the current tax year, then yes you can withdraw and replace in any ISA.

Bigwheels1111

https://forums.moneysavingexpert.com/discussion/comment/81953687#Comment_81953687

Thanks.

goldbern

Looks as though Plum has already dropped its cash ISA interest rate to 4.35%

Ade22c

so can anyone say in english what would happen in below scenarion pay in £20K, transfer in another say £10k from a different ISA, then after 6 months I withdraw either £29900 or £10.

What would happen as regards to the £30K I had invested ? and what would happen to the bonus interest accrued at that point ?

So would I forfeit all the bonus interest or would it still be secure and saved away ? the wording did not seem very clear or easy to understand. I have some to transfer which I need to use in about 6 months time so would not transfer into this if would lose all the bonus (which is the only bit which makes the Plum instant access ISA attratice if not the lower amount is rubbish ?

masonic

You would only forfeit accrued bonus interest if you didn't keep the account for the full 12 months.