Currently getting a poor interest rate with a major high street bank, is there a way to transfer my ISA across to Monzo? Even the 1.14% is substantially better than what I get now.
What’s wrong with 1.5% from Coventry BS?
Opened a savings ISA w/ Monzo. Happy so far. Liking the fact that I’m slowly having everything in one app.
Something I am curious about is doing a similar system w/ LISAs? Do Monzo have the rights to offer a LISA service, even if they were to piggyback off another company like the savings accounts? Just curious!
Any news on transfers? It was ‘coming in the next few months’ in the original post…
Do you mean the blog post?
It says ‘hoping to introduce in the next few months’ which in my mind is significantly different to ‘coming in the next few months’. Would be nice to have an update though.
Guys. How much money you transferred to Monzo ISA ? How you feel - safe ?
I’m also keen to find out about transfers. I’ve currently got my ISA with Barclays and hoping Monzo bring in a switch feature soon so I can get everything under one roof
Why you can’t just withdraw money from your current ISA account - > transfer to Monzo - > Monzo ISA. Or this is not allowed?
Sorry for silly question.
If your withdraw your money from an ISA you lose essentially lose that ISA allowance. You’d be using your current isa allowance whatever is left of it to put your money back into an isa.
You also can’t open two isa accounts of the same type in the same year, you can only do that if you transfer the isa.
Thanks for your reply.
If I have ISA with nationwide… I opened this account 1.5 year ago… and I want to move my money to Monzo ISA.
Who will stop me to open another ISA account? HMRC?
You can open one type of every ISA every tax year. If you haven’t opened on this year you can open any one you like. You’re better transferring it though to not lose your allowance.