Investec Pot vs ISA

I currently have a reasonable chunk of money in the Investec Savings Acc within Monzo (1%) and have now noticed they are offering an Flexible Savings Pot ISA at 1.14%.

Would I be giving up any other benefits by transferring my entire balance to the Flex Savings Pot? Is there anything else I should be aware of prior to transfer?

Thanks in advance

‘Giving up’ depends entirely on your situation :blush:

An ISA can only be opened & topped up if it’s the only ISA you’ll be opening & paying into this tax year. There’s a £20k tax-free limit for the year (as is the norm for an ISA :sunglasses:).

But other than that, you’ll gain 0.14% interest over your existing Investec pot :grin: I can’t think of a downside - as long as you’re able to open an ISA :+1:

Thanks I thought as much. I have a Help to Buy ISA however that was opened in the previous tax year so no concerns there. I think I’ll get this transferred unless suggests otherwise

May just leave the min amount in the Investec and fill up the ISA to maximise benefits

If you’re still paying into the Help to Buy ISA, you won’t be able to open/pay in to another cash ISA. You can only pay into 1 each tax year.