To allow money deposited in a Curent Year's Cash ISA to be withdrawn and replaced during that year.

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Petition Action

To allow money deposited in a Curent Year's Cash ISA to be withdrawn and replaced during that year.

Additional Information

To allow money deposited in a Current Year's Cash ISA to be withdrawn and replaced during that year This will encourage saving and avoid, during just the first year, the frustration of not being able to take advantage of the full Cash ISA Allowance in that first year.
The current rule just frustrates the Saver when he has an emergency and has to temporarily use his savings.
It appears quite an unnecessary rule and discriminates against persons who need to draw on their savings for a short period. The rule can still remain for the following years when it has a real meaningful purpose.

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