A&L question

pennyshahin_2

Hi I've just rang up and found that I'm only earning 0.5% interest on my isa is it worth transferring this for tax year 2009/2010 or shall I wait until 6th april to transfer it along with £5,100 new money

Mickygg

It's only a few days now, so if you want to consolidate, I would pay in the 10/11 allowance on 6th April, then move into a new account when its cleared, just make sure its all paid into an instant access account.

If you don't have the bulk already, then maybe best to move now as if you are like me it's irritating when you know you are on a very poor rate.

lolarentt

Knowing from long experience how inadequeste most of the Bank/BS providers are I'd make sure I do it as 2 separate transactions, so probably best to open new 2010/11 one somewhere advantageous, obviously not your current provider, and then transfer in your old 2009/10 one when it''s all set up and running.

I tried with one of mine to move a low rate one into a better rate one at same bank but they say only new money accepted so no chance of moving low interest rate to higher there. Have switched to Santander, did it online instantly

dragonbear

i work for a and l and know you can transfer this to an instant access is at 2.75 or a 2 year fix at 3.5% without affecting the new tax year allowance- depends on how much you have in the account and if you have the £5100 in adidtion to the monies in the old isa as to whether it is worth the effort of doing so