Chip Smart Cash ISA 4.55%

meat_n2_reg

Hello

Looking for a flexible instant access cash isa and the chip smart cash isa 4.55% looks a decent option ?

Have checked out the t&cs and noticed clause Unpaid interest is forfeited if account is closed or transferred out

As its a smart ISA could I just withdraw any money out and leave in £1 and pay into another flexible cash ISA when the time comes ( in the same current tax year )?

Thanks Steve

masonic

You can take such a step to render that accrued interest effectively zero, but if you were planning to hold into the next tax year then money you pay in this year would not be replaceable in another ISA without counting towards your 27/28 allowance.

tom192

I got this account not long since, it does keep you informed when the interest will be paid see my screen shot. You will just need to be organised when you come to move money out to minimise any loss. When I transferred my pot in from trading 212 I am pretty sure I could only do my full pot transfer not a specific amount, it's the first time I have transferred an ISA so not sure if this is the norm

friolento

There is an existing thread about this ISA:

https://forums.moneysavingexpert.com/discussion/6669193/chip-smart-cash-isa-beware-this-condition

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/82108539#Comment_82108539

There's also an existing sub-board for ISAs that the OP might like to consider.