Question about BARCLAYS ISA please

dreemgirl

I have a cash isa from barclays which i took out last year.

Ive noticed they are advertising a GOLD isa?? Is this different to my one? and in what way?

Should i transfer or can i if better to this Gold isa?

bit confused??!!

TomsMom

Barclays bring out a new ISA every year, the last two I've had and there's been a bonus rate for 12 months. So once the bonus rate ends then the rate goes down a fair bit. The new Golden ISA has 3.61% AER/3.55% tax-free p.a.* variable and interest paid monthly. The rate include an introductory bonus of 1.00% gross.

So yes, the Golden ISA is a different one.

You cannot transfer your any previous ISA into it, Barclays ISA or anyone else's, they don't allow transfers in.

You could take out the new Golden ISA as it's a good rate (unless anything better comes along in the meantime).

Check what the rate will be on your previous ISA when the bonus period comes to an end and then transfer it to somewhere paying a better rate that allows transfers in. If it's the Tax Haven you've got the AER is 2.10% at present.

dreemgirl

Thanks for that!
Yes i do have the tax Havan
Cani take out a golden isa and keep my exsisting havan, thought u could only have 1 isa though?

Baldur

dreemgirl wrote: »

Thanks for that!
Yes i do have the tax Havan
Cani take out a golden isa and keep my exsisting havan, thought u could only have 1 isa though?

You can only subscribe to one Cash ISA per tax year.

You can have as many as you like from previous tax years.

dreemgirl

Ah, i see, thought u could just have one only! ever.
So i can keep the one i have and continue on that rate
and can i then open the golden in april (new year) and have the 2 running with barclays then?

If i do this can i only open the golden after 6th april, is that right?

sorry for being abit slow

Baldur

dreemgirl wrote: »

Ah, i see, thought u could just have one only! ever.
So i can keep the one i have and continue on that rate
and can i then open the golden in april (new year) and have the 2 running with barclays then?

If i do this can i only open the golden after 6th april, is that right?

sorry for being abit slow

It depends when you opened or last subscribed (paid new money into) to the Tax Haven - if it was on or after 6th April 2008, yes that's right.

If you opened it before the 5th April 2008 and haven't paid anything into it since that date, then you can open the Golden ISA now.