HSBC now allow transfer to e-ISA
Options
penx
Posts: 8 Forumite
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
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
0
Comments
-
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?0
This discussion has been closed.
Categories
- All Categories
- 343.6K Banking & Borrowing
- 250.2K Reduce Debt & Boost Income
- 449.9K Spending & Discounts
- 235.7K Work, Benefits & Business
- 608.7K Mortgages, Homes & Bills
- 173.3K Life & Family
- 248.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards