Individual Savings Accounts (ISAs)

What happens if I change my mind?

Some ISA managers will offer ISA products that give you a ‘cooling off’ or cancellation period (usually 7 or 14 days), in which you can change your mind about buying. Provided you cancel within the period set out by that ISA manager the payment made will not count as a subscription into an ISA in that tax year.

If you change your mind within that time, you will be free to put money into an alternative ISA in the same tax year with the same or a different manager.

If you change your mind after that time, or in a case where there is no cancellation or cooling off period, you will still count as having put money into that ISA, and your choice of a new ISA will be restricted in the same tax year. However, you could transfer the existing ISA to another ISA manager.
Transferring your ISA

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