We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Transferring two ISA's
mr_scientist
Posts: 68 Forumite
Hi all,
I currently have two different ISA's that both now have poor interest rates. One of the ISA's I've had for 2-3yrs and haven't paid in any money for at least 2 of those years. The other ISA is just over a year old and has had money both paid into and taken out of in the new tax year (April '09).
What I would like to do is transfer the 'old' ISA into a new ISA with a better interest rate in a new bank. The second 'new' ISA I would also like to transfer into a new, better interest ISA with the same bank it is currently in, but keeping it separate from the 'old' ISA.
My question is, a) is this possible and b) is it the best way to go about doing things to maximise the potential interest etc?
I currently have two different ISA's that both now have poor interest rates. One of the ISA's I've had for 2-3yrs and haven't paid in any money for at least 2 of those years. The other ISA is just over a year old and has had money both paid into and taken out of in the new tax year (April '09).
What I would like to do is transfer the 'old' ISA into a new ISA with a better interest rate in a new bank. The second 'new' ISA I would also like to transfer into a new, better interest ISA with the same bank it is currently in, but keeping it separate from the 'old' ISA.
My question is, a) is this possible and b) is it the best way to go about doing things to maximise the potential interest etc?
0
Comments
-
mr_scientist wrote: »What I would like to do is transfer the 'old' ISA into a new ISA with a better interest rate in a new bank.
No problem there - just select a new provider, complete their ISA transfer form and let them arrange the transfer.
If the 'old' ISA is being transferred to a different institution, surely it will be separate? Whether you will be able to transfer to a different Cash ISA account with your current provider, or not, depends on the terms & conditions of the new account - some will not accept transfers from within the same institution.The second 'new' ISA I would also like to transfer into a new, better interest ISA with the same bank it is currently in, but keeping it separate from the 'old' ISA.0 -
Yes you're right the 'old' ISA will be kept totally separate from the 'new' ISA.The second 'new' ISA I would also like to transfer into a new, better interest ISA with the same bank it is currently in, but keeping it separate from the 'old' ISA.If the 'old' ISA is being transferred to a different institution, surely it will be separate? Whether you will be able to transfer to a different Cash ISA account with your current provider, or not, depends on the terms & conditions of the new account - some will not accept transfers from within the same institution.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards