Should I Close Old Isas?

You can usually move your ISA from one provider to another whenever you want (for example, you might want to get a higher rate of interest). Do not close your original ISA account when you do this, though. If you do, your money will lose its tax protection.

Should I close my ISA account?

The process of closing a cash ISA depends on which type you have and whether you've already paid into it so far this tax year, so you should consider your decision to close an ISA carefully. ... So if you close a cash ISA in the same year that you paid into it, you can't pay into another one until the next tax year.

What happens to an old ISA?

Cash ISAs from previous tax years can be split – with some money going to one provider and the rest to others. However, the full amount you've contributed during the current tax year must be transferred to one new provider. If you've got a Stocks and Shares ISA, you can also transfer money back into a Cash ISA.