HSBC now allow transfer to e-ISA

penx

I just spotted this on their Cash e-ISA page:
hsbc.co.uk/1/2/personal/savings/cash-e-isa
"Transfer in from other Cash ISA providers accepted"

Which seems to be a very recent policy, as previously you could only transfer into their regular ISA.

I've just got off the phone with them. They said I can transfer an ISA from another bank to their Cash e-ISA, but I can't transfer from my existing HSBC Cash ISA to an HSBC Cash e-ISA. I asked if I could transfer my Cash ISA to another bank and then transfer it back to HSBC as a Cash e-ISA, and they pretty gave me a reluctant yes. So essentially achieving the same thing but more paperwork for me...

Anyway.. this means more paperwork, but I'd much rather have an e-ISA as it has a 1.55% higher interest rate.

Does anyone see any problems in me doing this (other than !!!!ing off another bank by only having an account open with them for a few days)? Does anyone have any experience with banks that could provide a speedy transfer of ISAs in and back out?

ps, I realise HSBC is one of the worst ISAs around but at the moment I'm keen to keep my money with a secure bank and keep all my money in the same place so I can easily manage it

Baldur

penx wrote: »

Does anyone see any problems in me doing this (other than !!!!ing off another bank by only having an account open with them for a few days)? Does anyone have any experience with banks that could provide a speedy transfer of ISAs in and back out?

The main potential problem is the fact that we are approaching what is usually the busiest time of the Cash ISA year - see threads from last year, where transfers were taking months in some cases and with some providers.