Renewing ISA again

bobblebob

The other day i renewed by Halifax ISA Bonus Saver for another year.

Looking back at my finances i could probably fix the ISA for a year which doubles the interest.

So can i renew my ISA again to the fixed one? Im not sure what happenss if you renew twice in a short period

bobblebob

https://forums.moneysavingexpert.com/discussion/comment/82048862#Comment_82048862

Yes with Halifax.

When i go into online banking, under "renew isa" options the fixed ISA appears, thats why i said renew as seem Halifax class it as such

When i renewed my bonus saver the account number stayed the same

masonic

If it is easy access, then there is no minimum holding period and you can renew to a fix at any time (after that there may be a penalty to renew again after a short time).

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82048869#Comment_82048869

Sorry, deleted my comment for exactly the reason you give - Halifax call changing the terms of an existing ISA a 'renewal'.

bobblebob

https://forums.moneysavingexpert.com/discussion/comment/82048874#Comment_82048874

Thanks.

I wasnt sure if there was a limit to renewing. For example the ISA Bonus Saver only allows 4 withdrawals per 12 month. But seems on renewal the withdrawals reset, which seems abit of a loophole

masonic

https://forums.moneysavingexpert.com/discussion/comment/82048879#Comment_82048879

It is not the only loophole associated with the renew feature 🤐

flaneurs_lobster

I'd try the renewal to a fixed product. If Halifax have a problem with it then there are plenty of other ISA managers out there that will happily take your cash (albeit with a bit more admin to facilitate a transfer).