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Kent Reliance

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Comments

  • xylophone
    xylophone Posts: 46,089
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite

    That's not what a flexible ISA is

    https://www.kentreliance.co.uk/news/making-the-most-out-of-isas

    Flexible – With a Flexible ISA you’re able to withdraw
    and replace your savings as many times as you like as long as you don’t
    exceed your annual ISA allowance in each tax year. You can even withdraw
    funds deposited in previous tax years, as long as the money you take
    out is replaced within the same tax year.

  • rallycurve
    rallycurve Posts: 273
    Seventh Anniversary 100 Posts Name Dropper
    Forumite

    They might allow you to replace funds in the FRISA (after paying the penalty) but that does not mean you are allowed to make additional contributions

  • friolento
    friolento Posts: 4,411
    1,000 Posts Third Anniversary Name Dropper Photogenic
    Forumite
    edited 4 June at 6:15AM


    They state quite clearly that a withdrawal after the 14-day cancellation period and before the end of the Fixed Rate Term is subject to an Early Withdrawal Charge, of 90 days loss of interest on the amount withdrawn or transferred. This will be deducted from the balance in your Account on the date of the withdrawal/transfer. Therefore, you may receive back less than you have paid in.

    Hope this doesn’t catch people out

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