Leaving A&L Isa for NS&I Isa, how to do it?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
1 reply 648 views
so02seeso02see Forumite
132 Posts
Part of the Furniture 100 Posts Combo Breaker
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I have £16k in A&L Issue 1 ISA. This includes this years £3k, I didnt get Issue 2. Can someone tell me how to work out if it is worth moving this amount for a better deal? I see NS&I offer 5.05% but won't they just drop the rate as soon as I move. They don't say anything about transfering ISA's on their web site. I have also read the A&L are experienced at mucking transfers up. If my money vanishes for a week, like it did when I put it in, wouldnt this eat up any gain I might hope for my moving.

Replies

  • Kazza242Kazza242 Forumite
    1.9K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭
    so02see wrote:
    I have £16k in A&L Issue 1 ISA. This includes this years £3k, I didnt get Issue 2. Can someone tell me how to work out if it is worth moving this amount for a better deal? I see NS&I offer 5.05% but won't they just drop the rate as soon as I move. They don't say anything about transfering ISA's on their web site. I have also read the A&L are experienced at mucking transfers up. If my money vanishes for a week, like it did when I put it in, wouldnt this eat up any gain I might hope for my moving.

    The NS&I mini cash ISA does not accept transfers in.

    To transfer your ISA elsewhere, you must approach the new provider and tell them that you wish to transfer your existing mini cash ISA with A&L to their mini cash ISA. Do NOT withdraw the money yourself, let the new provider handle if all for you.
    Please call me 'Kazza'.
This discussion has been closed.
Latest MSE News and Guides

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides

Cinema MoneySaving tips & tricks

Including year's 2for1 movies for £1

MSE Deals