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Swtching ISAs
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davewes0
Posts: 7 Forumite
I wish to switch to a better ISA but the higher rate product doesn't take transfers.
eg Santander. They pay 2.75% on transfers but 3.5% for new investors.
So is it theoretically possible to transfer money into the low interest ISA then transfer to a higher rate ISA later once you're a customer?
eg Santander. They pay 2.75% on transfers but 3.5% for new investors.
So is it theoretically possible to transfer money into the low interest ISA then transfer to a higher rate ISA later once you're a customer?
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Comments
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Check out this link mate. http://www.moneysavingexpert.com/savings/best-cash-isa
Isas either allow transfers in or not. You have to fill out a isa transfer form. I have done this in the past and its been quite painless. Best to post this type of thing on the savings board.Mortgage Start jun 2007 £88500 Outstanding Balance £51000
Overpayments 2007 Nil 2008 £1040 2009 £7853 2010 £10000 2011 aiming for £18000 (6k so far)
The Early Bird Gets the Worm, but the Second Mouse Gets the Cheese!!0 -
No you can't.
The higher rate is for new customers. As soon as you take out the first ISA, you are no longer a new customer, sorry.0 -
you cant do that if you have put money in one cash isa already.Mortgage Start jun 2007 £88500 Outstanding Balance £51000
Overpayments 2007 Nil 2008 £1040 2009 £7853 2010 £10000 2011 aiming for £18000 (6k so far)
The Early Bird Gets the Worm, but the Second Mouse Gets the Cheese!!0
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