Current Account Switch Service and Monzo ISA

Help
1

I am thinking of using the Current Account Switch Service (CASS) to change current account to a different bank. I currently use Monzo for my current account and also have a cash ISA pot. Will CASS affect the ISA pot in any way, or will my current account balance and payments be transferred to my new bank but my ISA will remain in place with Monzo? Am I okay to separately use CASS to change current account, and the ISA transfer-in function from a new ISA provider at the same time?

I know usually a current account and an ISA are entirely separate, however given Monzo is a middle man for OakNorth in providing an ISA I’m wondering is this intrinsically linked to your Monzo current account?

2

You’ll have to separately transfer the ISA out before you do the CASS. Monzo require you to have a current account in order to use any of their other products.

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3

You’ll have to either close the ISA first, or do a partial switch and leave your Monzo current account open.

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4

Is it possible to arrange a switch via CASS but keep my old account (Monzo) open for a while? I was under the impression CASS always closed your old account

5

You can do a partial switch, which will transfer the DDs etc you choose but not close the old account.

If you are switching to take advantage of an offer, you may not get the offer if you don’t do a full switch.

6

Some banks don’t offer the partial switch service, so you’d just need to manually move all your direct debits, standing orders and card subscriptions manually if you wish to keep your ISA.

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7

You almost certainly won’t get a switching offer unless you use CASS and complete a full switch. I’ve switched a lot of times, and I’ve never seen a switching bonus offered for a partial switch.

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