How do I transfer my ISA???
Comments
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Trying_to_be_good wrote: »You can't pay into more that one ISA in a tax year - if you plan to change mid-year, fill the first ISA (ISA 1) and then transfer it as you won't be allowed to 'top-up' the new one (ISA 2 - that you transferred to) even if you hadn't used the whole allowance.
Yes you can. There is nothing wrong with doing this.
i.e. I put £2000 in Egg ISA. I transfer it to HSBC ISA, I can top up £1600.0 -
My wife has not paid into her existing isa in this tax year so she is entitled to open a new one the problem is HSBC say they won't allow anybody to hold 2 isa products or is this a coverup to get around their bad advice?0
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My wife tried to open an HSBC online e-isa 6.25% in the current tax year but was told as she already had a cash isa (4.5% ish we think) with them, opened in the last tax year they don't allow customers to have 2 different isa products!!!!!!! seems a bit unfair to us anyone had the same problems.
Sounds like either the HSBC employee didn't know what they were talking about, or HSBC have their own special rulres. Either way, it would be a good idea to transfer the 4.5% ISA to another provider. It's paying a poor rate (you should be able to get at least 6%) and then you should hopefully be able to open an e-isa with them, if you still want to.
HTH
tiptoe0 -
I recently transferred about 3 separate cash ISAs into an Icesave ISA which pays IIRC 6.25%. I had already begun making contributions for 08-09 but was able to carry on paying up to this year's limit into Icesave. The transfers all went through pretty quickly, within about 3 weeks I think.0
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Icesave?
Can you let us know how you are doing??0 -
Question please ??
I have an Abbey ISA and i am thinking of transferring to Natwest as they have a 7.25% PA rate, if i do will i lose any interest? are there any penalties?
The Abbey account is the Direct ISA issue 2, obviously the Natwest one has a 2% one year bonus, i will keep the money there a year if its ok and then move elsewhere.
Any advise appreciated !0 -
The Natwest Cash ISA 7.32% rate only applies to amounts over £27,000, the rates are tiered - from £1 to £8,999 it's 6.67%.I have an Abbey ISA and i am thinking of transferring to Natwest as they have a 7.25% PA rate, if i do will i lose any interest? are there any penalties?
There are no penalties - see Direct ISA 2 Terms & Conditions, section 17. You may lose a couple of days interest while the cheque from Abbey clears into the Natwest account but that's all.0 -
Baldur
Many thanks for the reply - appreciated.
Sorry to post twice it wasnt intended, i posted and then like the numpty i am found the right forum place for the question.
One more while i am here if i may there are obviously lots here interested in the Natwest deal, to save me searching the small print is there anything to lock you in past 12 months and can they change the rate in that period?0 -
They can certainly change the rate, as it's a variable rate product, rather than a fixed-rate one.One more while i am here if i may there are obviously lots here interested in the Natwest deal, to save me searching the small print is there anything to lock you in past 12 months and can they change the rate in that period?0 -
Hi, does anyone know if a bank can accept a BACS (ISA) transfer, rather than the lengthy cheque system, which we all know can take 3 months or more?.0
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