A&L Direct ISA - transfer-in of CURRENT year's funds

Bargain_Rzl

Just considering transferring my current mini cash ISA from First Direct to either Halifax or A&L. My current ISA contains funds from the 2004/5 and 2005/6 tax years.

On the A&L website there is a "user guide" with detailed instructions about transferring in ISA funds from elsewhere, but it seems to be quite specific that this only applies to amounts saved in previous tax-years. In particular, it appears to suggest that funds can only be transferred in from elsewhere once the account has been opened - and obviously it isn't possible to have more than one mini cash ISA open for the same year at any given time.

Has anybody managed to transfer an existing 2005/6 ISA to this A&L product and were there any complications?

grumbler

I don't know about anybody's real experience, but similar question was asked in the post #18 in New A&L Isa rate - 5.2% variable thread ...

tosh

I transferred (from Marks and Spencer Money) - took less than 7 working days. You can print off the transfer form from the web but I got mine by next day post and returned immediately.

Very good service from BOTH banks.

BertieMeldrew

I was confused by this also... but spoke to them and they cleared it up.

I've now opened up the ISA on the A&L web site and they sent me a form which I have sent to First Direct to transfer across my ISA.

codetown

The catch is that you open up a new ISA Account with 0£.
This is not a problem. Once you have the account number then you can instruct your ISA provider to do the transfer and to do this you use the transfer form that A&L provides you.

So it is reasonably simple to do.