Trasfer ISA and open a new ISA with 2 diff providers

slganapat

Is it possible to transfer an exisitng (past years contributions only) ISA to transfer to another ISA with a new provider and also open a new ISA (for the current tax years contributions) with a different provider. Need answer ASAP please.

I have a 0.5% paying ISA(old contributions) with halifax ,can i move that to postoffice for 3% and also parallely open a 3.2 % satander ISA for the current tax year(2010-2011).

RayWolfe

Yes it is.

usedandabused

atta boy!

best way to do it mate!

tara747

I was about to ask this, thanks OP! Also, can you transfer ISAs as often as you want?

rko281

I also want to do this - transfer to Santander at 2.75% and pay into a new ISA with Alliance & Leicester at 3.2% - however when I fill in the application form for Santander (selecting the transfer only/no new money option), the Declaration at the end of the application included the clauses:

"I have not subscribed and will not subscribe more than the overall subscription limit in total to a Cash ISA and a Stocks and Shares ISA in the same tax year;" - OK

"I have not subscribed and will not subscribe more than the Cash ISA subscription limit to one Cash ISA;" - OK

"I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe to this Cash ISA; " - Not OK!

Anyone else tried this?

Bevill

This declaration has confused me for years - can you split your current year's isa limit between two providers and also transfer your old isa to another provider?

Lokolo

Bevill wrote: »

This declaration has confused me for years - can you split your current year's isa limit between two providers and also transfer your old isa to another provider?

No. You cannot split current years subscriptions. Only previous.

Lokolo

rko281 wrote: »

I also want to do this - transfer to Santander at 2.75% and pay into a new ISA with Alliance & Leicester at 3.2% - however when I fill in the application form for Santander (selecting the transfer only/no new money option), the Declaration at the end of the application included the clauses:

"I have not subscribed and will not subscribe more than the overall subscription limit in total to a Cash ISA and a Stocks and Shares ISA in the same tax year;" - OK

"I have not subscribed and will not subscribe more than the Cash ISA subscription limit to one Cash ISA;" - OK

"I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe to this Cash ISA; " - Not OK!

Anyone else tried this?

You are only subscribing to one. Subscribing = new money. The other one is transferring, which is not subscribing.

rko281

Lokolo wrote: »

You are only subscribing to one. Subscribing = new money. The other one is transferring, which is not subscribing.

Thanks for the clarification, however this declaration is for the ISA I'm transferring to, and I've specifically ticked the "no new money" box.

It's probably just a rogue statement that's included on all their ISA applications, but I thought I'd check if anyone had clarified it.

Lokolo

rko281 wrote: »

Thanks for the clarification, however this declaration is for the ISA I'm transferring to, and I've specifically ticked the "no new money" box.

It's probably just a rogue statement that's included on all their ISA applications, but I thought I'd check if anyone had clarified it.

You aren't subscribing to that ISA anyway. So technically the statement is false. I think its the bank just covering themselves.

sulkisu

rko281 wrote: »

Thanks for the clarification, however this declaration is for the ISA I'm transferring to, and I've specifically ticked the "no new money" box.

It's probably just a rogue statement that's included on all their ISA applications, but I thought I'd check if anyone had clarified it.

Sounds obvious, but have you checked that you are using the correct form? Most ISA providers have a separate transfer form for customers to use when applying to transfer their ISA from a different provider. Satander definitely do. It is not the same as their ISA appication form.