Is there a time limit for transferring Icesave ISA funds?

csiman

Is there a time limit for transfer of funds from my current account to a new ISA account using the ICESAVE certificate I got last month?

As a non-taxpayer, I can get 5.1% in my tesco saver account and my new ISA (A&L) only pays 3.5% so I was hoping to keep the funds in the tesco account until around the end of march.

Thanks.

Tried searching but couldn't find anything.

Stewster

csiman wrote: »

Is there a time limit for transfer of funds from my current account to a new ISA account using the ICESAVE certificate I got last month?

As a non-taxpayer, I can get 5.1% in my tesco saver account and my new ISA (A&L) only pays 3.5% so I was hoping to keep the funds in the tesco account until around the end of march.

Thanks.

Tried searching but couldn't find anything.

Hi csiman, as long as you reinvest in an ISA before the end of the current tax year (in other words before the 5th April 2009). That at least was the rule the government advised when Icesave collapsed. I'm doing the same as you and reinvesting with another provider (I opened one with RBS before they withdrew the bonus of 1.75%) although my wait is not out of choice - the FSCS still haven't sent me my certificate 8 weeks after I received compensation. That though is another issue !

csiman

Thanks very much for the info :T

Stewster

You're welcome !