Didn't know too much about ISA's...

McKneff

I think you confused us because you didnt say it was going to be for a holiday, silly billy

When you go to your new provider, fill in the form, like i say, and then tell them how much you want to transer.
If you have £2k and you want £1.5 for your holiday then just tell them £500.

I thought you were going to take the whole lot out to put into a new one. lol

Take money out to spend by all means but never withdraw from one to put into another, always transfer, sorry for the confusion.

(just leave the £1500 in the old ISA till you need it, unless you can get a better rate in an ordinary savings account.)

Annie

masonic

If you close your existing ISA and then take the £500 and put it into a new ISA, then you will only be able to contribute another £4600 this coming tax year. If there is no hope of you reaching that limit, then there is little point transferring the £500 to preserve the initial £5100 limit for the year.

hieveryone

Maths was never my strong point

So what I should do is withdraw the £1.5kish on Tues (go on hol on Wed), then open up a new ISA and transfer across to the new provider?

Thanks again!

McKneff

hieveryone wrote: »

Maths was never my strong point

So what I should do is withdraw the £1.5kish on Tues (go on hol on Wed), then open up a new ISA and transfer across to the new provider?

Thanks again!

:j:j:j
Now you've got it, have a nice holiday.