Cash Isas Transfer discussion

jem16

You can transfer as often as you want to.

However NS&I do not accept transfers and neither do many of the top payers. They will only accept new money.

blondie6

Hi, new here, help needed, already got a mini-cash isa issue 2 with A&L, want to transfer to Issue 3 with A&L, done application online but it reads like it's a new subscription, when all i want to do is transfer to get more interest. Thought I would open an NS&I one to put 'new' money in, they won't accept transfers. But I can only subscribe to one isa a year!! Where have i gone wrong?

bisou

Help needed! Am new to mini cash isa and am confuse about transferring T&Cs.
I am holding a cash mini isa acct with barclays at only 4.25% for 2006/2007 and would like to transfer the full amount of £3000 to kent reliance for their higher interest rate. Will I be able to do so without exceeding my allowance for 2007/2008? Will I still be able to receive the interest rate for this tax year?

Admin matters - do i fill in the transfer form only or both the transfer form and application forms? I noted that the application form defaults the tax year as 2007/2008 thus not applicable for my case?

Many thanks in advance for any help or advise.

voipphoner

I would like to transfer my firstdirect ISA which I opened for tax year 2005/2006 to Kent Reliance.
Would it be for the full amount? (inc. earned interest)

Thanks,

Frank

purplestar133

bisou wrote: »

Help needed! Am new to mini cash isa and am confuse about transferring T&Cs.
I am holding a cash mini isa acct with barclays at only 4.25% for 2006/2007 and would like to transfer the full amount of £3000 to kent reliance for their higher interest rate. Will I be able to do so without exceeding my allowance for 2007/2008? Will I still be able to receive the interest rate for this tax year?

Admin matters - do i fill in the transfer form only or both the transfer form and application forms? I noted that the application form defaults the tax year as 2007/2008 thus not applicable for my case?

Many thanks in advance for any help or advise.

Yes you can transfer your 06/07 balance from barclays to kent reliance and you will still be able to contribute 3000 in 'new' money in this tax year 07/08.

sorry can't quite remember about the form, but i think i filled out both. Double check, but I think having 07/08 on your form is ok, you're opening the account this tax year, even if it is only to transfer into. Why not give kent reliance a quick ring?

ukdutypaid

voipphoner wrote: »

I would like to transfer my firstdirect ISA which I opened for tax year 2005/2006 to Kent Reliance.
Would it be for the full amount? (inc. earned interest)

I'm about to do exactly the same............
I'm just going to watch the BMW one for another month (6%, but offers online access). Kent's it 6.21%, postal only, but I don't intend touching it so I'm not sure what the disadvantage is (I like seeing things online). They might be just, hoping that you forget about it, lol.
Firstdirect's is 5.75 for me till March 08...........

Yep go for a transfer, they calculate the interest and the whole lot goes across.......... Done it before FD, to A&L and then A&L back to FD about 18months later.....

Here's the funny bit though.... 21st cent and from what I understand ISA transfers are actually done between organisations by a real paper, posted cheque!!
Go figure!

ukdutypaid

blondie6 wrote: »

Hi, new here, help needed, already got a mini-cash isa issue 2 with A&L, want to transfer to Issue 3 with A&L, done application online but it reads like it's a new subscription, when all i want to do is transfer to get more interest. Thought I would open an NS&I one to put 'new' money in, they won't accept transfers. But I can only subscribe to one isa a year!! Where have i gone wrong?

Think that's one for a phone call and a Transfer form.... A&L are a bit fiddly, cos they are always offering new lead rates... They might even say you can't do that (their house, their rules), in which case just transfer it out to somebody else......
To be honest I'd shift it anyway (obviously you may have other personal reasons, above and merely beyond Best Rate, for keeping it with A&L, that I'm not aware of)
See Kazza the luneburger's list, here...
Mini Cash ISAs: The Best ISAs currently available List

He updates it every month, currently BMW, yes that's right the BMW ISA and Kent Reliance's postal only, seem to be the best..... Personal circumstances, don't know how much you're shifting etc... Take a look..

ukdutypaid

purplestar133 wrote: »

Yes you can transfer your 06/07 balance from barclays to kent reliance and you will still be able to contribute 3000 in 'new' money in this tax year 07/08.

sorry can't quite remember about the form, but i think i filled out both. Double check, but I think having 07/08 on your form is ok, you're opening the account this tax year, even if it is only to transfer into. Why not give kent reliance a quick ring?

Yep, I've looked at the forms also.... You do both, is my belief.
You're opening an ISA account with them in the tax year 07/08, but you're depositing/transfering funds in from an ISA from a previous tax year....
Job done I believe........ That's how I've done it before.......
I know what you mean though, it does your head in as you fill in the application for a 'new', ISA.
I did it once A&L to FD........... Was convinced the Inland Rev, knew exactly what I was doing LIVE and were about to kick the door in any min, dragging me off a kickin n a screamin into the night, ne'er to be heard of again..... LOL .............. But, ermmmm no, that didn't happen and all was well in the end....

purplestar133

ukdutypaid wrote: »

Yep, I've looked at the forms also.... You do both, is my belief.
You're opening an ISA account with them in the tax year 07/08, but you're depositing/transfering funds in from an ISA from a previous tax year....
Job done I believe........ That's how I've done it before.......
I know what you mean though, it does your head in as you fill in the application for a 'new', ISA.
I did it once A&L to FD........... Was convinced the Inland Rev, knew exactly what I was doing LIVE and were about to kick the door in any min, dragging me off a kickin n a screamin into the night, ne'er to be heard of again..... LOL .............. But, ermmmm no, that didn't happen and all was well in the end....

:rotfl:
heh! I do have a picture in my head of Inland revenue people, scary...serious...not to be messed with, even though I have met a few in real life and they're just like you and me!just doing their job...

ukdutypaid

purplestar133 wrote: »

:rotfl:
heh! I do have a picture in my head of Inland revenue people, scary...serious...not to be messed with, even though I have met a few in real life and they're just like you and me!just doing their job...

That's what they said in Germany........ Sorry, sorry, I know that's not fair.....
Yes, I was behind the sofa, lights off, cowering whilst I clicked....... Obviously, I'm simply not cut out for serious crime or fraud.....