Cash Isas Transfer discussion

nerothefiddler_2

Most of the current high interest isa's do not seem to allow transfers in. Does anyone know the name of the current highest paying a/c that does allow transfers in?.

purplestar133

nerothefiddler wrote: »

Most of the current high interest isa's do not seem to allow transfers in. Does anyone know the name of the current highest paying a/c that does allow transfers in?.

Without checking, I think it's Kent Reliance at 5.71% or Abbey is a bit more if you have over £9000 to invest.

To be sure, look at Kazza's great post which she keeps updating:

http://forums.moneysavingexpert.com/showthread.html?t=401374

masonic

danielsbrewer wrote: »

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

You can either top up the smile ISA, then transfer it all to a new provider, or transfer it to a new provider, then top it up. You can't transfer to a new provider and then put more money into smile.

Tarotcat

Hi,

I have £3k in a NS&I ISA - opened in March with the total £3k.
I have £3k in a Barclays ISA - opened in April with £3k.

Can I transfer the NS&I £3k to the Barclays ISA and would I get the full 6.5% on all of the money?

Apologies if i am being particularly dim!

egduj

unfortunately Barclays does not allow transfers into it's Taxbeater ISA

Tarotcat

egduj wrote: »

unfortunately Barclays does not allow transfers into it's Taxbeater ISA

Thanks Egduj..........does that mean that if i do find an ISA paying better interest than the NS&I I can transfer that money to that provider (if they allow transfers) or can I not open another ISA this year?

Thank you!

Toddster

This may be a stupid question but whats to stop me transferring my money out of my existing ISA into a savings account, and then 2 days later transferring it into a higher paying ISA which does not allow ISA transfers ?

jem16

Nothing to stop you doing that. However you will have lost a year's tax-free allowance.

For example if you had £3k in an ISA last year and transferred it, you could still add £3k this year giving you £6k. If you withdraw last year's £3k and put it in another ISA you cannot add any more so will only have £3k.

Toddster

Thanks...I am getting this now......the light has just pinged on above my head. I trust this means that if I transfer directly from one isa to another then I can do this and still have my £3000 allowance

jem16

Yes it does.