ISA Transfer Maxi-cash -> Mini Cash??

kinesin_2

I decided to finally sort my money out As I'm currently saving for a house but not using any form of saving account or ISA.. so I'm not getting anything in interest. :eek:

I'm looking to transfer my old Maxi-cash ISA into a new higher rate mini-cash ISA, is this possible? v(i.e. Maxi 2 mini)

Please note that the Maxi-cash ISA only has a cash part, the stocks and shares were closed down a few years ago.. I therefore don't see this as an issue, but can someone confirm
cheers

isasmurf

kinesin, The Mini/Maxi designations are only valid in the year in which you put the money into the account. Once a new tax year starts they lose their Mini/Maxi tags and are simply Cash ISAs (or Stocks and Shares ISAs) and you can transfer them to any Mini or Maxi ISA accepting transfers as long as cash stays as cash, or stocks and shares stays as stocks and shares.

So, if you haven't put any money into this ISA during the current tax year then yes you can transfer it to a Mini Cash ISA, if you have then you can only transfer previous year's deposits to the Mini Cash ISA.

kinesin_2

Cheers for that.

It's the first time I've read about the max/mini tag been dropped once the tax year is over.. Now time to move it to IF isa.. (or check out FD 6.2% come monday)