Cash ISA

faisalpandu

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Hello

I went to my bank today and wanted to transfer some money into my savings accoutn i had a reserve cashcard. the lady at the till told me to open up a an isa account saying that i will have a better interest and more savings. i unseratsnd what an isa is. but what i want to know is which account is my cash held up in. can i just use my savings account card to withdraw money how is the withdrawl of the money done in an isa account.

cheerz
 
Hello

I went to my bank today and wanted to transfer some money into my savings accoutn i had a reserve cashcard. the lady at the till told me to open up a an isa account saying that i will have a better interest and more savings. i unseratsnd what an isa is. but what i want to know is which account is my cash held up in. can i just use my savings account card to withdraw money how is the withdrawl of the money done in an isa account.

cheerz
u just do a withdrawl but with an isa it is best to leave it all in this way u get the full benifit of the interest
even though that has dropped this yr

an isa isnt like a bank account it is really an investment account
 
will the isa be on mu current accoutn or savings account
 
Hello

I went to my bank today and wanted to transfer some money into my savings accoutn i had a reserve cashcard. the lady at the till told me to open up a an isa account saying that i will have a better interest and more savings. i unseratsnd what an isa is. but what i want to know is which account is my cash held up in. can i just use my savings account card to withdraw money how is the withdrawl of the money done in an isa account.

cheerz

Many cash Isas are instant or easy-access accounts, but some require you to leave your money invested for a set period or to give notice before you withdraw your money.

remember though that once you withdraw you lose the benefit of having an ISA since you cannot re-invest (assuming you hit your limit alread)
 
You may check to see if there are limitations to the amount you can invest in an ISA and what other terms that are convenient or not for you (e.g. tax etc..).
 
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