partial transfers

lilacbridget

Having transferred isa's before in previous years I understand how the transfer process works but I have come across a situation which im not sure how to proceed. Basically I have an reward isa with a&l which covers the 08/09 & 09/10 tax years. The isa loses its bonus period after 12 months, the first maturing in april and the second in august. I cant touch the 09/10 isa until the bonus is paid in august so is it possible to transfer the 08/09 isa out before aug or will I have to wait. The isa doesnt appear to have two seperate account numbers so how could a&l know which part of the isa to transfer.

rb10

Are you sure that the bonus runs out 12 months after the funds were credited, and not twelve months after the account was opened?

I am not familiar with this particular account, but most accounts that include a bonus would work along the lines of the latter, meaning that the whole bonus would be removed in April.

lilacbridget

You may well be right there. Now you've said that you've got me thinking. I've been wondering how this was going to work and hopefully that is the case. Basically it was just a condition that you couldn't take anything out the account for 12 months or you would lose the bonus rate and just get 1.5% instead of 3.5%

Thanks for you help sorting out my blonde moment