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Can I move my ISA mid term?

8 replies

PersephoneParlormaid · 05/12/2025 07:04

I put £2.5K in an ISA with the intention of adding to it, to make it the full £20K, but then discovered that I can’t add to it. I’m about to inherit some money and want to make it a nice even £20K, so can I move the £2.5K that doesn’t mature until next year, and add the rest, to a new ISA?

OP posts:
ThirdStorm · 05/12/2025 07:16

You can open multiple ISA accounts provided they don’t total over £20,000.

ErrolTheDragon · 05/12/2025 07:56

Probably depends on the specific isa, if it’s a fixed term cash type thing or not. You need to check with the provider. Some it’s fairly clear in the online system if there’s an ISA transfer button.

ProfessorBinturong · 05/12/2025 09:13

If you can't add to it, it's almost certainly a fixed term and can't be moved or withdrawn until it matures. Just open a second one to use the rest of your allowance then combine them when the first matures.

PersephoneParlormaid · 05/12/2025 10:50

ProfessorBinturong · 05/12/2025 09:13

If you can't add to it, it's almost certainly a fixed term and can't be moved or withdrawn until it matures. Just open a second one to use the rest of your allowance then combine them when the first matures.

But if I can’t add into the first one, how do I combine them when it matures, do I need a different type for the second one?

OP posts:
ProfessorBinturong · 05/12/2025 11:50

The 'can't add restrictions will be for a fixed period. 'Maturing' is the end of that period, after which you can do what you like with it

ProfessorBinturong · 05/12/2025 11:52

You need to go to your account and read the terms and conditions. The restrictions are specific to the product you've bought, not a general ISA rule.

Mumski45 · 05/12/2025 17:08

PersephoneParlormaid · 05/12/2025 10:50

But if I can’t add into the first one, how do I combine them when it matures, do I need a different type for the second one?

Yes use a different type as otherwise the new one will be tied up when the old one matures. I would open a new more flexible one and add £17500 then move the old one to the new one when it does mature.

fluffythecat1 · 11/12/2025 07:18

Make sure you do an ISA transfer between the accounts as well, if you put it into the bank and then transfer it will lose its tax-free status.

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