Isa newcomer with 2yr plan?

ADMAN_1979

Can you transfer the easy access ISA over to the FRISA in the same year you started the easy access one, or do you mean transfer at the end of the year?

Baldur

ADMAN_1979 wrote: »

Can you transfer the easy access ISA over to the FRISA in the same year you started the easy access one, or do you mean transfer at the end of the year?

Yes, ISA transfers can be made at any time, the tax year is irrelevant - except that if it contains current tax year subscriptions, they must be transferred whole (no partial transfer of current tax year ISA funds is permitted, whereas those from previous tax years can be partially transferred where this is supported by the 'losing' & 'winning' providers).

ADMAN_1979

Would you avoid ''normal'' savings accounts in preference for an ISA and only pay into one when your allowance has been reached in your ISA?

Baldur

ADMAN_1979 wrote: »

Would you avoid ''normal'' savings accounts in preference for an ISA and only pay into one when your allowance has been reached in your ISA?

Your choice.

It really depends on the rates on offer for each, your tax band, your goals (whether you require easy access or are looking for longer-term tax free savings), etc., only you can decide what is best for yourself.

Personally, I usually subscribe my annual allowance to a Cash ISA on or around 6th April, then look at other types of savings accounts.

ADMAN_1979

Thats pretty much what I thought really. Without over complicating things it seems the best route to take. Have been thinking of putting £3600 into the Aldermore 2yr fixed 3.6% before this years deadline as it was top of Martins list.

Learner_Saver

Guys,
I recently opened a 2 Year Fixed Rate Cash ISA account with Aldermore, intending to transfer an ISA currently held with Northern Rock to it. Today I received the Aldermore documentation which, among other things, states "Don't forget that you can transfer money held in a Cash ISA with another provider at any time"

However, their Savings handbook seems to contradict this as it states in Para 22, Terms and conditions applicable to fixed rate Cash ISAs, sub-para 22.4 "Cash ISAs held with another Cash ISA provider may not be transferred-in to this account". I am confused! :question:

Baldur

Learner_Saver wrote: »

....I am confused!

So are Aldermore, by the sound of it, as their website says:

Transfer from another provider (To both invest new money and make a transfer or multiple transfers, why not open more than 1 account?)