Basic cash ISA questions

Mr_T_5

I currently have a cash ISA with natwest and have paid in the full amount allowed this year. Should I move my isa elswhere to get a better rate? If so is there a charge? Can I transfer the full amount into my new isa or do I have to wait till the next tax year as I have already paid in my limit? Can anyone tell me who offers the highest interest rate for a cash isa?

Lots of questions but hopefully easily answered....

alared

You can transfer your cash ISA anytime to whoever will accept the transfer.
Both LTSB and Kent &Reliance accept transfers and pay about 5%.
You will need to ask Natwest if there are any penalties for transferring.
Also you will lose interest for the time it takes Natwest to do the transfer,as they won`t be in any hurry!

Mr_T_5

Thanks Alared

Robert_Sterling_3

alared wrote:

You can transfer your cash ISA anytime to whoever will accept the transfer.

True for some minicash ISAs ... Not true for all minicash ISAs.

isasmurf

Sorry Robert that is incorrect, it is true for ALL mini cash ISAs. All ISAs must allow the investor to transfer to another ISA provider. ISAs providers do not have to accept transfers in (as alared indicated), but they must allow them out.

david78

And you can transfer the ISA either in this tax year, or the next, or the one after that etc... It makes no difference. Be sure to get your new ISA savings provider to administer the transfer.

Peter-Pan_5

maybe this is a daft question,but,

If I put 3000k in a cash isa this month,then 3000k in a cash isa in April,does that mean 6000k will be in the account,or is it two seperate accounts of 3000k.

derrick

Tam_Durkin wrote:

maybe this is a daft question,but,

If I put 3000k in a cash isa this month,then 3000k in a cash isa in April,does that mean 6000k will be in the account,or is it two seperate accounts of 3000k.

As long as your second cash is put in after April 6th it will be all in the same account if it is with the same provider