Updated on 20 May 2015.
There are no extra restrictions placed on how and when you can withdraw your cash simply because you've saved or invested in an ISA.
Instead, this will depend on the provider and the account your ISA savings or investments are held in.
As with any other account you can choose to tie your money up for a set period of time.
There are a wide choice of fixed rate Cash ISAs available if you want to keep your savings as cash.
These range from 1-5 year fixed terms during which access to your money is likely to be restricted.
It is also worth remembering that Investment ISAs, like the majority of investments are meant to be a long term investment and withdrawing your money early could mean any profits you earn are negated by the account fees.
You can move your ISAs to a different bank or building society in search of a better rate or a different investment opportunity, although you do need to be careful how you do this if you want to protect your money's tax-free status.
Not all providers and all accounts will accept ISA transfers so you'll need to check which do and don't when looking to move your money.
To move money from an ISA with one bank or building society to another you will need to contact your ISA provider to arrange the transfer.
Under no circumstances should you withdraw the money in cash or transfer it online in person, doing this will remove your savings from the ISA wrapper and mean you lose that part of your ISA allowance.
For more help making an ISA transfer read our guide: Cash ISA Transfers: How to Manage & Maximise Your Money.
The amount of time your ISA transfer will take is likely to vary from provider to provider, however under rules introduced in 2011 any transfer should now be completed within 15 working days.
If your ISA takes longer than this time you will need to complain to your ISA provider and seek reimbursement of any lost interest, for more help read our guide: How to Complain About Financial Services.
No, there's no limit on the number of ISA transfers you can make each year so you can move your money in Cash and Investment ISAs as many times as you wish.
If you are transferring money that you paid in to an ISA during the current tax year then you must transfer the balance in full, otherwise it will be as if you have paid into more than one Cash or Investment ISA.
If you are transferring money in ISAs from previous tax years then you can split the money as you wish. This could be between several accounts and with the same or different providers as you see fit.
You're able to amalgamate ISAs from previous tax years into a single account. This can either be the same account you invest your current year's ISA allowance in, or a different one.
Providing the new ISA doesn't limit or restrict the number of transfers in there are no rules limiting the number of accounts you can transfer into a single ISA.
No, ISAs are an individual benefit that cannot be shared or transferred to another person.
Yes, you can transfer any money held in a Cash ISA into an Investment ISA using the standard ISA transfer procedure.
As of July 1st 2014 this is now possible. The overall limit for a cash ISA and an investment ISA is a collective £15,240 which can also now be used fully in either cash or investment ISA.
Yes, once you transfer money to an Investment ISA from a Cash ISA they are treated as if they were originally deposited there.
This means you can then pay more money directly into your current year's Cash ISA - assuming you have sufficient allowance remaining.
Yes, you can transfer a previous year's ISA and open a new one in the same year.
This is because transferring an ISA does not count as paying into a new ISA as long as you arrange the transfer through your ISA providers.
You can transfer previous years' ISAs as many times as you like without impacting you current year's allowance.
For more information read our guide: Can You Transfer an ISA and Open a New One in the Same Year?
Written by Martin at money.co.uk
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