Kent Reliance BS Direct ISA rate increased to 5.46%

Gambler

just been looking at their website. It says this ISA is transfers only. Is this correct?

I haven't used my allowance this year yet so iwas going to open an ISA with Kent for £3K and then ask for my Abbey to be transferred.

Or do I have to invest the 3K into Abbey and then apply to Kent to transfer the whole amount.

Confused, any advice appreciated.

Kazza242

Gambler wrote:

just been looking at their website. It says this ISA is transfers only. Is this correct?

I haven't used my allowance this year yet so iwas going to open an ISA with Kent for £3K and then ask for my Abbey to be transferred.

Or do I have to invest the 3K into Abbey and then apply to Kent to transfer the whole amount.

Confused, any advice appreciated.

The Kent Reliance Direct ISA accepts new money , as well as transfers in. You can open this account with £1+ of (new money), there is no need to open your ISA elsewhere and then transfer funds into this account. This ISA features under the both the Moneyfacts 'New Cash ISAs' and 'Transfer an existing ISA' lists.

Though it should be noted that this cash ISA can only be opened and operated through their Head Office.