Transfering in ISA help please

Looby_L00

Hi and Good Morning to all,

I think i know what i am doing with this years £3600. Looking at Halifax and their 3% fixed for a year. Not sure if i want variable as i have been bitten by NatWest and the rate falling, which bring me nicely to the subject of Transfering In.
Am i right in thinking that i can transfer my 10k to any establishment ( i don not need to have an ISA with them) and it does not count as a NEW ISA and towards this years?
Am i also right in thinking that i do not have to leave it in that establishment but can then transfer it back to Nat West or other and get a better rate?
I presently get 0.75 plus 1% bonus on my 10k at NatWest (ouch but that hurts).
Any help on this appreciated as its a minefield out there.

opinions4u

Looby_L00 wrote: »

I think i know what i am doing with this years £3600. Looking at Halifax and their 3% fixed for a year.

That's what I'm doing. I like the access.

Not sure if i want variable as i have been bitten by NatWest and the rate falling

Nat West, RBS and Barclays will all cut their rates before the end of July.

Am i right in thinking that i can transfer my 10k to any establishment ( i don not need to have an ISA with them) and it does not count as a NEW ISA and towards this years?

As long as they accept transfers in. The Halifax one does.

Am i also right in thinking that i do not have to leave it in that establishment but can then transfer it back to Nat West or other and get a better rate?

Again, as long as they accept transfers in.

I presently get 0.75 plus 1% bonus on my 10k at NatWest (ouch but that hurts).
Any help on this appreciated as its a minefield out there.

Get your £10k moved - it's worth an extra £125 over the next 12 months. If variable rates start rising you can move out of your fixed Halifax deal easily enough, whereas a "normal" fixed rate ISA will penalise you.

Make sure you don't withdraw the £10k yourself. Ensure whichever bank is accepting the transfer in does all the work or you will lose you tax free allowance.