Don’t let your ISA languish in low-yield accounts – transfer them

Individual Savings Accounts (ISAs) are tax-efficient savings, yet many savers fail to maximise their potential by keeping their funds in low-interest accounts. I was doing a stock take of my accounts and found a partially filled ISA providing me with 2.5% return….whereas I could switch it to one at 4.6%…..so I wanted to share with you how to manage the transfer correctly, safeguard your existing ISA without affecting your £20,000 annual limit, and ensure your money retains its tax-free status.

An ISA transfer means moving your funds from one ISA to another. This can occur between the same types of ISAs or from one type to another, like transferring from a Cash ISA to a Stocks and Shares ISA. The main reason for a transfer is to benefit from better tax-free interest rates. First £1,000