Curls wrote:Hello.
I have a Cash ISA with moneybox I opened last August. It's sat maxed out but the payout for interest is annual, so I'll get it this august.
I'd like to open a Plum or Chip one for 24-25 year as they have better interest.
Does anyone know if I'll be able to merge my 23-24 ISA(money box) with it later down the line, as i don't want to remove from there yet until the interest has been paid?
Not sure how it works....I may just end up with two separate ISAs but I'd rather have it all in one place with the best interest.
You can transfer money between ISAs at any time and it doesn't count towards your annual allowance. So yes you'd be able to transfer the money in your money box ISA into your Plum/Chip ISA.
Probably ges without saying but if you do decide to do this, don't withdraw the money yourself (as you'll lose the tax saving and it will count towards your allowance!), the provider of the ISA you want to transfer to will have a mechanism for arranging everything, so go through them.