How do I transfer existing ISAs into a new one?

jumpycheese1

I read that you can transfer money from an existing ISA to a new one without it affecting your annual allowance.

I have an appt tomorrow at one of the banking places Martin suggested as one of the best at the moment. I have a cash ISA (with a book). Do I close down the ISA before the appt or give the advisor details? Its at another bank and was opened 10 years ago.

Also as I wanting to give my year's allowance as well on the day - do I need to provide a banker's draft for £3.6k or is there a form for them to transfer the money?

Sorry about if the posts sound I am a bit dim but haven't done anything with my money for years and have regretted it - could have £800 extra in interest as done nothing for 5 years.

OneADay

The transfer should be done through your new would be ISA provider - so you go to whomever you want to transfer to and give them the details of where your existing ISA is, account information, etc and all that and they will sort it out. You just have to be wary about fees for transfer or withdrawal from existing provider (if any, usually for Cash IA there are none).

As for this year's allowance usage - you need to probably get the money to your new holder through your current account with that provider or if there is no current account, they could do a direct debit from your bank account if you give them formal instructions.

Joe_Bloggs

@jumpycheese1
Do not close down any existing Isa if you wish to transfer. Let your new ISA provider manage the transfer process. You do not have to transfer this years ISA allowance to your new ISA provider. I am still trying to save up for this years ISA allowance. It irritates me when ISA providers send out transfer forms that seem to suggest that this years ISA contribution is going to be with them.
J_B.