ISA accounts with annual interest payments
ISA accounts with annual interest payments
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FreeLitres

Original Poster:

6,128 posts

207 months

Saturday 17th January 2015
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If you have an ISA account with an annual interest payment, what happens if you chose to transfer out? During the transfer, would the old provider calculate how much interest you have earned until that date, or would you lose that amount?

i.e. Interest payment due in April but you transfer funds to a new account in October, will they add your 6 months worth of interest that you haven't had?

timbo999

1,547 posts

285 months

Sunday 18th January 2015
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Its not the interest payment period that matters but the T&Cs.

If its a one year fixed you could lose some/all the interest. If its easy access they should credit you with the interest you've earned up to the point of transfer. In summary read the T&Cs!