Worse off? Stay where you are. Better off? Find the right new account...

Just because you're ditching a fixed cash ISA doesn't mean the best new account is automatically a new cash ISA (though for some it will be). Here's what you need to know to decide...

1. Normal savings beat cash ISAs for most. Since 2016, the personal savings allowance (PSA) means basic (20%) rate taxpayers can earn £1,000 interest a year with no tax and higher (40%) rate taxpayers can earn £500 interest a year with no tax. If you won't make this much interest, you won't pay any tax, so should focus on moving your money to the highest interest rate, which is usually in a Top Savings Account.
2. If normal savings would pay more interest than your PSA, a cash ISA is a good idea. It's still worth taking advantage of normal savings rates so you earn up to your PSA, but if you've savings above that, a Top Cash ISA is likely a good idea, as interest is ALWAYS tax-free and NEVER counts towards your PSA. Even if you don't pay tax on your savings interest now, but would if rates rose further, it can also be worth having some money in a cash ISA.