Transferring Past/Present Cash Isa funds

victor62

Although this may have already been covered please clarify!
I've already used up my full £3,600 - 20008/09 cash isa allowance with my Barclays Tax Haven Isa (currently @2.18%)opened April 08 @6.51%. Come the 6th April 09 I'm then going to deposit (with NEW funds)my full £3,600-09/10 cash isa allowance into the new Barclays Golden Isa @3.61%.In the pursuit of a better interest rate for my 08/09 Tax Haven Isa fund of £3,600 + interest I therefore intend to transfer those funds into either a Halifax Reward or Natwest e-ISA.My question is can I do that now,before 5th April (this tax year)the funds in question having being subscibed to a provider in this 'existing' tax year or must I wait til the 09/10 tax year when the funds become funds invested from a 'previous' tax year? Or doesnt it matter as they're 'transferred' funds albeit to open a 'new' account with a 'new' provider. And if I have to wait til April to transfer can I still do thiswhilst opening the Golden Isa with the new funds.
:money:

littlemrtinkle

you can transfer now, by filling out a isa transfer form at your intended recipient (i.e halifax) . A transfer can take up to 60 days to move accross. I have done just this for my YBS isa that i am moving to halifax. They will open the account with a nominal amount £1 (no money actually goes in) just to create a ref number. if you do not bank with your new isa provider yet, you will need to take id and proof of address. Its quite a painless process. hope this helps.

Baldur

You can transfer at any time, transfers do not constitute 'opening' a new Cash ISA, you are merely moving the same Cash ISA from one provider to a different one.

If the funds are from the current tax year, they must be transferred whole (i.e. no partial fund transfers - these are only permitted for previous tax year's/years' Cash ISA funds).

Mikeyorks

And ..... if it's the Halifax Direct Reward ISA ..... you really need to do it now. It's a 'limited offer' and may not survive to the year end :-

http://www.halifax.co.uk/savings/isa-direct-reward.asp?!!!!!hpc_pos1_savings1

victor62

Thanks to all of you! Now does anyone know off hand though whether the Natwest or Halifax let you transfer 'OUT' without penalty from either of those accounts,should interest rates miraculously recover?Also can anyone recommend any other 'trusted' providers offering higher interest cash Isa's that one is able to make transfers into and which 'branch based' account is offering the highest rate?
:beer: