I need my money quick! - how long does it take to withdraw!

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 5.3K views
dllivedllive Forumite
683 Posts
Part of the Furniture 100 Posts Name Dropper I've been Money Tipped!
✭✭
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi, I have cash ISAs with M&S and Barclays. They've both just come out of their fixed interest period and have reverted to the standard variable amount. I need this money quickly (within 7 days). How long does it usually take to withdraw money from a Cash ISA (anyone with experience of this with Barclays or M&S would be great). Is it immediate or does it take time? The reason why I ask is because Ive heard that Banks drag their heels when people want to transfer their ISAs - does this apply when a person wants to withdraw the full amount?
Ill phone them to check, although Ild appreciate your comments because theyre probably going to be more reflective of the actual time it will take!
thanks

Replies

  • LokoloLokolo Forumite
    20.9K Posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    Transferring ISAs is not the same as withdrawing.

    When you are withdrawing you are just going to say, a current account.
    When you are transferring you are moving your ISA money into another ISA account.
  • KingLKingL Forumite
    1.7K Posts
    Transferring to other ISA providers involves them printing and posting cheques. How quickly they handle a straight withdrawal will depend on the nature of the account and on what other accounts you have with them. for example, if you have a current account with them and a cashpoint card, you might be able to get it all done in a few hours. If they need to post you a cheque you could reckon on it being a week + ....

This discussion has been closed.
LATEST MSE NEWS AND GUIDES

Cut overdraft charges

10 tips to pay less for your overdraft + how to pay it off

MSE Guides

FREE tennis coaching

Find your nearest session and pre-book your place online

MSE Deals