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The United Kingdom Individual Savings Account (ISA) provides a tax-efficient saving mechanism. It is possible to transfer your ISA from one bank to another, but is there any limit on how many times you can jump to the bank with the best interest rate?

Daniel Fortunov
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There's no limit, but the process is quite inefficient so you'll in practice be limited by the speed at which each transfer happens. They currently have to make transfers within 23 working days, but from the start of 2011 the limit will be 15 working days.

Also, you spend some days receiving no interest on each transfer, so you'll lose out by continually jumping.

Ganesh Sittampalam
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IME it wasn't worth transferring more than once a year. Most of the time the best interest rate deals were available just before the end of the year anyway so it often wasn't worth switching during the rest of the year.

Timo Geusch
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