Double form for 2 ISA transfer

TVPIPE

I am looking to move two ISAs from two different providers - Nationwide and Santander (both from previous years) to the Halifax ISA - the transfer form only allows completion for one transfer - is it merely a case of completing two forms -or do I have to jump through other hoops?

blueberrypie

Just fill in two forms - one for each transfer.

TVPIPE

blueberrypie wrote: »

Just fill in two forms - one for each transfer.

THanks for the speedy reply....

arriva

Hi there,
I am looking to do the same but from ING (old) ISA to Halifax ISA Direct Reward. Does anybody know if the ING sort code for the ISA acc is the same as the for the other ING saving accounts? which appears to be (40-61-98).

Thank you in advance.

david78

I found this on their Frequently Asked Questions page. In the section "How do I move money into my Cash ISA". See link below.

Ing Direct FAQ

Sort code for the ING Direct cash ISA is 40-61-98.

arriva

great, thank you.

arriva

blueberrypie wrote: »

Just fill in two forms - one for each transfer.

Do you put the same Halifax newly open account details on both forms?
or do you need to open two new Halifax ISA, then send two forms pointing to the two different new Halifax Isa acconts?

Also, if you can transfer both old ISA to a single new Halifax ISA, do you have to transfer the two old ISA at the same time or you can send one form first then another later on to add to the existing one?

thank you in advance, I am a little confused :think:

rb10

arriva wrote: »

Do you put the same Halifax newly open account details on both forms?
or do you need to open two new Halifax ISA, then send two forms pointing to the two different new Halifax Isa acconts?

Also, if you can transfer both old ISA to a single new Halifax ISA, do you have to transfer the two old ISA at the same time or you can send one form first then another later on to add to the existing one?

thank you in advance, I am a little confused :think:

You can transfer multiple ISAs into a single Halifax ISA, that's fine.

If you are transferring to a Fixed Rate ISA, then the transfers need to be done at the same time (although on separate forms).

Otherwise, (e.g. if you are transferring to the ISA Direct Reward) then you can transfer in at any time.

arriva

excellent! thank you for your help. I have one last question then I'll stop bothering...

I had the interest of the old ING ISA paid back into the ISA itself so at the end of the year the ISA had more money than the yearly allowance.
What will happen to this money when I transfer this ISA (for example 2009/2010) to the new Halifax ISA Direct Reward? Will Halifax only take the 2009/2010 allowance or the interests as well?
Also, if they take in the interest, will the interests generate more interest or it will just sit there and the interest will be calculated on the actual allowance for that year (£3600)?

Is it better to take the interest off before trasferring or it doesn't matter?

Thank you in advance.

david78

If you ask for the full amount in the account to be transfered, your old account provider/bank will transfer the money and the interest too then close the old account. (If these are previous year's ISAs you can just ask for a specific amount to be transferred if you want in which case your old account will stay open.)

You will earn interest on the interest transferred. And interest generated on the interest generated, and interest generated on ... oh you get the picture.

arriva

david78 wrote: »

If you ask for the full amount in the account to be transfered, your old account provider/bank will transfer the money and the interest too then close the old account. (If these are previous year's ISAs you can just ask for a specific amount to be transferred if you want in which case your old account will stay open.)

You will earn interest on the interest transferred. And interest generated on the interest generated, and interest generated on ... oh you get the picture.

Thank you David.
Is the interest generated on the interest tax-free?
After two years the 2009/2010 £3600 became £3676.71, if I transfer it all to the Halifax ISA Direct Reward the 3.00% apply to the whole £3676.71 or just to the initial £3600? What I understood is that the first £3600 are tax-free, the rest isn't.
I am asking because I wanted to trasfer a few years worth of ISAs and if the past interest doesn't generate much interest I'd rather move it somewhere else...? What do you think?