Help with transferring a Cash ISA, with a catch...

Titan

Hi Guys,

Before the tax year ended I opened an A&L ISA, but now that the rate has droped dramatically I want to transfer it elswhere... the only catch is that for this year I've got a stocks & shares MAXI ISA... will I be able to transfer my existing little pot out of A&L to some other more generous provider?

Thanks

YorkshireBoy

A&L removed the 0.7% bonus for new accounts on 12th April. If you opened your account at the end of the last tax year, then your account still pays 5.2%.

Patr100

The rate did drop for the A& L but surely if you opened last tax year you still get the the bonus. which is fixed until April 2007. How does that affect the figures?

Rates effective from 09/01/06 to 11/04/06. †Includes bonus of 0.70% fixed until 30/04/07

http://www.alliance-leicester.co.uk/savings/index.asp?page=previous-rates

HGLTsuperstar

But back to your original question, yes you can transfer it but cant add to it this year as you've paid into a MAXI. Just make sure you ask for transfer not closure & new opening

mentat_2

You can transfer an ISA to another provider at any time as you are not affecting your years allowance. That's what I did with mine.