ISA transfer

massafan

This may be a stupid question - so please forgive me - but how would I go about transferring my existing ISA? I opened up a fixed rate ISA last year and its about to mature. I'm thinking of transferring it to a different building society - possibly birmingham midshires - but have no idea how to go about it or how long it will take. Is it something that is quick to do? My isa matures at the end of November - should I start applying for something now??

Baldur

You complete your chosen new ISA provider's transfer form and the new provider arranges the transfer.

You can state on the transfer form the date on which you wish the transfer to take place - in your case the maturity date of your current Cash ISA.

In your position, I would certainly apply now - be aware that a number of Cash ISA providers do not accept transfers, e.g. B&B do not for their fixed-rate ISA, see the following post for information on some that do (scroll down to find those that accept inward transfers) http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

The rates shown in the above post are likely to be out of date, so check.