Transfer to First Direct Cash e-ISA

laurel01

I transferred an ISA to YBS from Icesave in January this year (approx. 10k) but I am now thinking about transferring it to the First Direct Cash e-ISA to get a better interest rate i.e. 3.0% compared to 2.10% and also for convenience as I have a 1st account with them. I have already contributed to the YBS ISA this tax year so am I still allowed to transfer the funds to another provider even though I have only had the account with YBS since January 2009? I hope this makes sense.

KingL

yep...............

Rich1976

laurel01 wrote: »

I transferred an ISA to YBS from Icesave in January this year (approx. 10k) but I am now thinking about transferring it to the First Direct Cash e-ISA to get a better interest rate i.e. 3.0% compared to 2.10% and also for convenience as I have a 1st account with them. I have already contributed to the YBS ISA this tax year so am I still allowed to transfer the funds to another provider even though I have only had the account with YBS since January 2009? I hope this makes sense.

Yes but don't forget that the rate of 3% on the First Direct ISA is only until November next year after which it plummets to whatever their variable rate is at the time ( currently 0.2%) so you will have to transfer again if you don't want that rate. YBS are more consistent with their rates and don't offer high headline rates just to attract new customers so they are likely to still be offering a decent rate next year.