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Is it me but doesn’t it seem like we’ve been here before? The Greek crisis seems to have been dragging on longer than the Trojan War. It has been vacillating from spikes of on-the-brink debt refinancing, to periods where it has been seemingly out of the news altogether. But this time things appear different, more...
Just because an account is an ISA, it doesn’t mean it’s going to pay the best rate out there. Indeed after initially taking out your ISA, you may have noticed the interest rate tail off.
So transferring your Cash ISA pot is an important way to make sure you continue to get the best return on your savings.
Transferring your Cash ISA doesn’t impact on your current tax year’s ISA allowance. Your new Cash ISA provider will look after your transfer for you (you will normally have to complete a form though), in order to preserve the tax-free status of your money.
If you’re wondering how long all this takes, new guidelines from the Office of Fair Trading state that your ISA transfer must take place within 15 days (during which you will also continue to earn interest). To find out how to transfer a cash ISA click here.
Download your FREE 8-page ISA allowance guide for the current tax year. You will need a PDF reader such as Adobe Reader to download this guide.