Maturing ISA's

Baldeagle095

I am in process of consolidating my ISAs which I have held for a number of years. I will utilise the current 26/27 allowance in opening my consolidating ISAs.

However I have one maturing ISA which is outside the normal transfer window. (Just over 1 month)

Is there anything I can do to ameliorate the insipid interest rate I am likely to receive from maintaining this ISA?

Is it possible to transfer this ISA bearing in mind that I will have utilised the current 26/27 allowance?

Vitor

A transfer from ISA to ISA doesn't affect your annual allowance for new deposits. You don't withdraw money from the ISA, you instruct the receiving bank to perform the transfer (assuming they accept transfers in)

NanookOfTheNorth

You could transfer (through the ISA process, not withdraw the funds yourself) all your ISAs then their term ends to an easy access ISA - then when all your ISAs are in the easy access account open the Fixed Rate ISA and transfer to that (through the ISA process).

Farway

Depending on the terms of the ISA, you may have some interest penalty of X days interest to pay for leaving ISA prior to maturing.

Check the T & Cs and do your sums to decide if the lost interest is offset by the extra you will get in the new ISA

ToastLady

https://www.moneysavingexpert.com/savings/isa-switch-calc/