Barlcays ISA: transfers in

book12

Barlcays allow transfers in from their old ISA to their new one.

4.1, 4.2 - http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=popup1group&value=16156&target=_self

10_66

book12 wrote: »

Barlcays allow transfers in from their old ISA to their new one.

4.1, 4.2 - http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=popup1group&value=16156&target=_self

I think you'll find this relates to Barclays "Cash ISA" rather than their "Golden ISA Issue 2".

"Transfers-in
4.1 For Barclays Cash ISA only, in addition to the annual ISA subscription limits, you may also transfer the funds held in an existing cash ISA either with us or another ISA manager into your ISA account".

book12

Thought it would include the Golden ISA (Issue 1) as well.

Issue 1 was for the 2009-2010 tax year.

book12

I guess I could transfer the issue 1 Golden ISA funds to a current account. After that, transfer the amount from the current accont to issue 2 Golden ISA.

koopa_coffee

Don't do that.

Open a Golden ISA Issue 2 with NEW money, and TRANSFER the Golden ISA Issue 1 to another provider.

MustangSally

koopa_coffee wrote: »

Don't do that.

Open a Golden ISA Issue 2 with NEW money, and TRANSFER the Golden ISA Issue 1 to another provider.

Wouldn't that mean you have 2 ISAs, which is not allowed?

koopa_coffee

You can have as many ISAs as you like. You can only SUBSCRIBE to one in each Tax Year

MustangSally

koopa_coffee wrote: »

You can have as many ISAs as you like. You can only SUBSCRIBE to one in each Tax Year

Ah ok, so new money is a subscription but old money transferred is not. So if I now understand it you just have to find a provider that offers transfers with no requirement for any new money, or minimum "new" deposit to open the account.

book12

I guess I would have to transfer the ISA (Issue 1) money into my bank account, and then into the ISA account (Issue 2) .

That's the only way to transfer money from one ISA acconut to another one, within the same bank. The ISA doesn't accept 'transfers-in'.

glider3560

book12 wrote: »

I guess I would have to transfer the ISA (Issue 1) money into my bank account, and then into the ISA account (Issue 2) .

That's the only way to transfer money from one ISA acconut to another one, within the same bank. The ISA doesn't accept 'transfers-in'.

BUT as you've then already been told, you are effectively losing £3,600 of your 10/11 allowance.

Why not transfer your old ISA (Issue 1) somewhere else and then pay money into Issue 2.

koopa_coffee

book12 wrote: »

I guess I would have to transfer the ISA (Issue 1) money into my bank account, and then into the ISA account (Issue 2) .

That's the only way to transfer money from one ISA acconut to another one, within the same bank. The ISA doesn't accept 'transfers-in'.

*sighs* I already told you what to do.

koopa_coffee wrote: »

Don't do that.

Open a Golden ISA Issue 2 with NEW money, and TRANSFER the Golden ISA Issue 1 to another provider.