Cash Isas Transfer discussion

JB50

I've just phoned Yorkshire Building Society on 21 April 2007 (tel. 01274 353 228 which for me is cheaper than dialling 0845 1200100 - find alternative numbers via https://www.saynoto0870.com) and they told me their 30 day ISA (cash ISA) pays 5.75% inc bonus for one year, which sounds very good for old ISAs. Also they said this (2007) is the first year the government will allow us to transfer our TESSA-only ISAs to a new provider, so I'm thinking of transferring my TESSA-only ISA and another old ISA to the Yorkshire Building Society 30-day ISA, and giving 30 days' notice at the end of the year if I find another better one next year. I don't have to open a 2007 ISA with YBS to transfer over, which is good, so I can open a Barclays Tax Beater ISA at 6.5% for 2007 as well. Is this the best rate for tranferring old ISAs? It's better than 5.71% at the Kent Reliance Building Society, although admittedly that doesn't have a 30 day notice period. I'm not planning to take my money out for a whole year. Have I missed something?

isasmurf

JB50 wrote: »

Also they said this (2007) is the first year the government will allow us to transfer our TESSA-only ISAs to a new provider

There has never been any restrictions on transferring a TESSA only ISA. You could have transferred it the day after you opened it if you wanted to.

JB50

Thanks, isasmurf.
Please do you happen to have the answer to my other question - is 5.75% at Yorkshire BS the best rate without catches (except for the 30 day notice period) for transferring old ISAs, please? In Martin's article, there doesn't seem to be any transfer provider without catches mentioned above 5.71%.

foolsgold99

I think that strangely enough, the Egg ISA looks not bad (although you can't transfer in previous years allowance). I have an Egg money card but usually they aren't the best for their products. The great thing about them is their secure messaging service in which they can deal with any problems and queries that you may have. I've found their customer service and to be very good and the application process is hassle free.
What do others think Egg's ISA?

Sergio1982

I'd be grateful for some help here. I've been pottering around the web today for an answer but I'm not 100% sure.

I've got an HSBC Isa with just over £5k in it. Now the interest isn't very good and I want to open a Barclays Isa. My plan was to move all of this to my Egg Savings account then put the full £3k into opening a Barclays Isa then dripfeed the rest into a Regular Savings Account. However, I used to have a SO for £25 a month to go into my HSBC isa and I paid in £25 on 10th April before I cancelled it. Am I unable to open a Barclays Isa this year because of this, even if I only were to put in £2975?

Thanks

jem16

As you have subscribed to your HSBC ISA this tax year, you cannot open the Barclays ISA.

lipidicman

foolsgold99 wrote: »

What do others think Egg's ISA?

I went for one, better than putting it with Halifax (at 5.3%) and as I already had an egg money....

engworldcup2018

Hi
Can anyone help? I have a Northern Rock mini cash isa opened in 2003. I want to transfer it into the fixed rate isa. Northern Rock have sent me the application form but on it says I apply to subscribe to a Northern Rock isa for 2007 to 2008 it then goes on to say confirm which year when subscriptions were last made which I put as 2003 to 2004. What worries me is I have yet to open an isa for 2007 to 2007 and do not want this to be treated as such.
Will I be alright to transfer my old isa opening this new fixed rate isa and then still be able to open a mini cash isa elsewhere?
Thanks in advance

isasmurf

It shouldn't affect this year's entitlements, but HMRC's "suggested best practice" is that if you don't intend to use that ISA to deposit any "new" money in then "the line ‘I apply to subscribe …..’ and the declaration that ‘I am resident and ordinarily resident…..’ should be deleted from the form."
http://www.hmrc.gov.uk/isa/bullletin29.htm

danielsbrewer

So let me get this straight. I have a smile cash ISA for the last two tax years and I have paid in £50 to it in this tax year.

Can I open another ISA and transfer the whole lot and close down the smile ISA?

OR

Can I only transfer the previous two years + interest into a new ISA and not pay anything into the new ISA? Additionally I could still pay into Smile?

Thanks