Transferring previous year's cash ISA

info_maniac

Hello, I have already used my cash ISA allowance for this year and have saved £3600 in HSBC e-ISA (6.25%). However HSBC e-ISA account doesn't accept any previous year's ISA transfer-in,

I also had a cash ISA in the previous year with another provider and the rates offered by them were market leading rates then. However, from the start of this tax years the interest rates on my previous years ISA have dipped sharply. However, I am stuck with these rates and cannot transfer my previous year's cash ISA (£3000+interest earned) to HSBC e-ISA as they don't accept any transfer-ins.

I have noticed that some other banks do accept transfer-ins from other providers for previous years ISA. Can I open the ISA with them now and ONLY transfer my previous tax year ISA without putting any NEW money in (as I have already reached my £3600 limit for this year with HSBC)?

I noticed that Abbey (Direct ISA (issue 2) 6%) & Principality BS (E-Isa 6%) both accept previous year's ISA tranfer-ins but will they open the ISA account for me if I am not bringing any NEW money in and am only transferring my previous years ISA.

Are there any other providers which will have any better rates and accept transfer-ins.

LittleVoice

info_maniac wrote: »

I have noticed that some other banks do accept transfer-ins from other providers for previous years ISA. Can I open the ISA with them now and ONLY transfer my previous tax year ISA without putting any NEW money in (as I have already reached my £3600 limit for this year with HSBC)?

I noticed that Abbey (Direct ISA (issue 2) 6%) & Principality BS (E-Isa 6%) both accept previous year's ISA tranfer-ins but will they open the ISA account for me if I am not bringing any NEW money in and am only transferring my previous years ISA.

Are there any other providers which will have any better rates and accept transfer-ins.

You should be able to transfer in previous years' contributions. Go to the provider of your choice an ask them to collect the funds from the original providers. The money will be new to them!

Have you looked at articles on the main site or relating to the specific ISA sub-board? You may find notes on the best accounts there.