Two ISA's for the same year?

Any

mfhstid wrote: »

But if NatWest were to waive the requirement for £1 to open the ISA, and instead allowed a transfer of cash from another, existing ISA, then that wouldn't present a problem?

I've read a post somewhere around here from a person who tried that and they didn't allow it...
I'll try to find it.

Any

mfhstid wrote: »

But if NatWest were to waive the requirement for £1 to open the ISA, and instead allowed a transfer of cash from another, existing ISA, then that wouldn't present a problem?

Hmm, while looking for the thread of the person who asked and was refused I found another thread that advises that you can:

"Transfer your other ISAs to NatWest – it’s simple to transfer your cash ISAs from other providers or from NatWest, into an e-ISA. Just complete a Cash ISA transfer form (PDF file 92kb). and take it your local branch or post it to Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ"

And

"
You need to open the e-isa with a zero balance
(input '1.00' and select 'yes' to cheque/cash deposit, this will allow you to open it with 0) Instead of returning a 1.00 cheque with the application form when it arrives in the post, send the completed ISA transfer form which you have printed and completed from the internet "

So it's obviously up to the branch, depends on who you get... I would try it. Especially if you are existing customer.

Sebby*

I think I might just try that. I'll open an account but never send £1, just my transfer form.

Gidgen

If people wouldn't mind, I have a query on a similar line, but not sure if the previous answers have already covered it....

Currently I have 2 ISAs;

1) Barclays Variable rate ISA at 0.1%(!) from 2007/08 Tax year
2) Barclays Golden Egg ISA at 3.6% i opened at the end of the last Tax year (2008/09)

My desire is to transfer the Variable rate ISA to another ISA (where I can get a greater % than 0.1!) and use this Tax year's allowance to top up my Golden Egg ISA. Is this possible...?

I ask mainly because I have had quite a look around but not been able to discern if I can...I have spoken to Barclays about this, but the lady said that by transferring my Variable rate ISA to another ISA, I would only be able invest this years allowance into that ISA....I'm guessing from that maybe she's assuming i will have to make an initial deposit (like the £1 for Natwest's a/c above) - if thats the case if I can just get a straight transfer of my variable rate ISA (i.e. no opening deposit) then I can still pay into my Golden Egg ISA as I would like to... Or maybe she is right, if I transfer my variable ISA can I only then pay into that ISA this year?

Apologies for the long explanation, hope it makes sense! Has just perplexed me and havent been able to find a definitive answer...any help would be greatly appreciated!

Many Thanks in advance for any help someone can offer )

Sebby*

Well, I just spoke with NatWest and they confirmed that the way to do this is to say you'll open the account with £1 so the online application allows you to proceed, but never send it - instead, just complete the transfer form.

Any

Gidgen wrote: »

If people wouldn't mind, I have a query on a similar line, but not sure if the previous answers have already covered it....

Currently I have 2 ISAs;

1) Barclays Variable rate ISA at 0.1%(!) from 2007/08 Tax year
2) Barclays Golden Egg ISA at 3.6% i opened at the end of the last Tax year (2008/09)

My desire is to transfer the Variable rate ISA to another ISA (where I can get a greater % than 0.1!) and use this Tax year's allowance to top up my Golden Egg ISA. Is this possible...?

I ask mainly because I have had quite a look around but not been able to discern if I can...I have spoken to Barclays about this, but the lady said that by transferring my Variable rate ISA to another ISA, I would only be able invest this years allowance into that ISA....I'm guessing from that maybe she's assuming i will have to make an initial deposit (like the £1 for Natwest's a/c above) - if thats the case if I can just get a straight transfer of my variable rate ISA (i.e. no opening deposit) then I can still pay into my Golden Egg ISA as I would like to... Or maybe she is right, if I transfer my variable ISA can I only then pay into that ISA this year?

Apologies for the long explanation, hope it makes sense! Has just perplexed me and havent been able to find a definitive answer...any help would be greatly appreciated!

Many Thanks in advance for any help someone can offer )

Transfer, as long as you don't put any NEW money in, doesn't count as a new subscritption... So you can transfer wherever you want how many times you want (in ISAs obviously) without affecting your entitlement to
a/ only 1 new subscription a tax year (only open one new ISA with your new money)
b/ put £3600 into ISA per tax year

The only thing then is, whether the provider let's you do that... Some providers only let you transfer money if you will also put your current years allowance in...

The only thing you have to watch is that you transfer the ISA without putting any new money in...

Gidgen

Aha thanks very much for that, I am clear now!

Right then, off to do some research...