Cash Isas Transfer discussion

NikkyWikky

Hi, i'm quite new to this isa stuff. I've got an ISA account holding 6K from 2005-2007. I've justed added 3K for this tax year giving me a total of 9K. I've found out the interest rate for my ISA just dropped at the end of April. Was wondering if it was still possible to transfer my ISA to another provider even though I have already put in 3K for this tax year.

jem16

Most providers that accept transfers will allow you to do exactly that.

minnimooch

Silly question coming ........

I have a mini cash ISA with the Nationwide. I want to transfer this to a higher paying provider. I know that's not a problem but I also want to invest a further £3000 (my maximum alowance for this year). Can I do both? i.e. Does the transfer of my Nationwide ISA use up my allowance for this year, which prevents my investing a further £3000 or can I do the transfer and put the extra money in?

ruthd23

minnimooch wrote: »

Silly question coming ........

I have a mini cash ISA with the Nationwide. I want to transfer this to a higher paying provider. I know that's not a problem but I also want to invest a further £3000 (my maximum alowance for this year). Can I do both? i.e. Does the transfer of my Nationwide ISA use up my allowance for this year, which prevents my investing a further £3000 or can I do the transfer and put the extra money in?

You can do both, just make sure you transfer the previous year (your new provider will give you a form to do this). If you just withdraw the money then pay it in to somewhere else that uses up this year's allowance.

Ruth

minnimooch

Thanks Ruth for that information. I have got the message that you have to let the new provider do the work. It is too easy to make a mistake.
Thanks again
Ann

ioscorpio

Does A&L charge a transfer fee? I can't find anything about a fee on their website.

purplestar133

ioscorpio wrote: »

Does A&L charge a transfer fee? I can't find anything about a fee on their website.

Not for the direct ISA issue 2

mld25

I've just come across Kingdom Bank (http://www.kingdombank.co.uk/), who do an ISA at 5.75% (over £9000) which you can transfer previous years' contributions into.

They are "a UK-based independent Christian bank with a 50-year heritage, providing a range of financial services to suit individuals as well as charities, businesses, associations and trusts."

I appreciate this might not be to everyone's tastes, but it beats the current table-topper of Kent Reliance at 5.71% for transferring previous years' contributions!

alared

I had an ISA with both the Halifax (5.3% and no increase so far and only
.05% last time) and the Kent & Reliance (5.96% from tomorrow).

Foolishly I thought the Halifax could be trusted to increase along with the BoE, and transferred everything to them..

K&R have been very consistant with their increases and do allow transfers-in.
This is where my money will be going shortly,goodbye Hali

alared

I noticed this morning, that at long last ,the Halifax has increased it`s direct saver ISA to 5.55% and it`s websaver by a miserly .05% to 5.05%