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How do I transfer my ISA???

13»

Comments

  • Baldur
    Baldur Posts: 6,565 Forumite
    As far as I can see, from a quick skim through the HMRC guidance notes, there is no reason why electronic transfers could not be used - but, in practice, they aren't.
  • COCO
    COCO Posts: 35 Forumite
    I'm of work at the moment so i will go into Natwest tuesday and try and insist on a Isa(bacs) transfer from Barclays.

    I wonder what the response will be?.
  • Baldur
    Baldur Posts: 6,565 Forumite
    As the high street banks tend to use centralised ISA departments, insisting at a branch is highly likely to achieve nothing - especially as a BACS transfer would have to be initiated by the sender, rather than the recipient institution.......;)
  • evenasus
    evenasus Posts: 11,866 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    COCO wrote: »
    I'm of work at the moment so i will go into Natwest tuesday and try and insist on a Isa(bacs) transfer from Barclays.

    I wonder what the response will be?.

    How did you get on? Any luck? ;)
  • Quick question, - I currently have a cash ISA in A&L, for this and previous years. In this year I've already deposited £3600 into it.

    May I now transfer it in full to another bank/bs ?

    And another one, - as I understand the process could take 3 weeks +. Am I right in the assumption that once your application is accepted (e.g.2 days after sending the forms) they can't change their mind while the transfer is being made ?
    All my life my mother told me the storm was coming (c) Terminator 3
  • Baldur
    Baldur Posts: 6,565 Forumite
    May I now transfer it in full to another bank/bs?
    Yes you can.
  • Baldur wrote: »
    Yes you can.

    Thanks.

    And I wont lose my interest which is paid annually (earned but not paid circa 6 months) ?
    All my life my mother told me the storm was coming (c) Terminator 3
  • Baldur
    Baldur Posts: 6,565 Forumite
    And I wont lose my interest which is paid annually (earned but not paid circa 6 months) ?
    The transfer process closes your old ISA account and any earned interest is added to the total transferred to your new provider (subject to any terms & conditions of your old ISA account, which you'll have to read for yourself).
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