ISA reactivation

lynne.scott

Hi, can anyone help? I have an ISA i didnt pay into last year and want to transfer it. I have been told I need to reactivate it to do this. I have been given so much bad advice by banks recently I just want to check if this is right,

many thanks

OneADay

Reactivate how / what?
Who is it with? If there is money in it from an earlier year - you can move it when you want - just choose a new provider and give them the information for the account and they willl do the transfer.

dunstonh

If you pay into an ISA in one tax year the same provider can accept another contribution next year without the same level of paperwork. Indeed, some have no paperwork at all. However, if you have a gap year, they have to treat it as a new application and that level of paperwork that goes with it.

Paul_Herring

dunstonh wrote: »

If you pay into an ISA in one tax year the same provider can accept another contribution next year without the same level of paperwork. Indeed, some have no paperwork at all. However, if you have a gap year, they have to treat it as a new application and that level of paperwork that goes with it.

I thought that only applied if you wanted to add more money to the 'account'? The OP seems to simply want to transfer the money out.

dunstonh

Paul_Herring wrote: »

I thought that only applied if you wanted to add more money to the 'account'? The OP seems to simply want to transfer the money out.

Transfer out doesnt need "reactivation".

My response was a little generic to when you need to "reactivate" rather than saying its not needed in this case.