two isa's into one?

ldc071

sorry if this has been asked before, just had a quick look but couldn't see anything. basically, can isas from previous years be transfered into one?

i currently only have one, but is on a fixed term which i didn't know at the time...while im here, IS THE HALIFAX DIRECT REWARD @ 2.8% A 1 YEAR FIXED TERM??? i wanted to change it to the 3% one but they wouldn't let me hehe, every penny counts.

was thinking of opening a new one due to above issue, would i be able to combine these in future years or should i just reinvest in the 2.8% one just to keep everything simple.

thanks for all your help.

Lokolo

You can upgrade the 2.8% to the 3% so not sure why you couldn't....

Baldur

ldc071 wrote: »

....i currently only have one, but is on a fixed term which i didn't know at the time...while im here, IS THE HALIFAX DIRECT REWARD @ 2.8% A 1 YEAR FIXED TERM??? i wanted to change it to the 3% one but they wouldn't let me

IF it's an earlier version od the ISA Direct Reward and you have access to online banking, you can simply redesignate it to version 4 via this form - https://www.halifax.co.uk/savings/accounts/cash-isas/isa-direct-reward/redesignation/default.asp

Even if it is a fixed term ISA, rather than the one that you thought you had, you can transfer it on maturity.

blaise802001

Direct Rewards are not fixed accounts, they just have reward dates. If you change your reward account, you will also change your reward date of when your 0.2% extra interest is applied.Worth doing though as you get an extra 0.2% interest anyway.

HTH

ldc071

i thought this was the case, as i went from the 2.6 version to the 2.8 previously...thanks for this, i will look into it again.

any ideas on the other question just out of curiosity? can 2 become one so to speak?

Baldur

ldc071 wrote: »

i thought this was the case, as i went from the 2.6 version to the 2.8 previously...thanks for this, i will look into it again.

any ideas on the other question just out of curiosity? can 2 become one so to speak?

You redesignate the current ISA and simply pay your current tax year's subscription into it, there's no need to open a separate account.

pqrdef

ldc071 wrote: »

any ideas on the other question just out of curiosity? can 2 become one so to speak?

In general, yes.

If you have an instant-access account that accepts transfers-in, you can transfer any number of old accounts into it.

Some fixed-term products don't allow any further investment after the initial lump sum. In that case, a bit of orchestration may be needed to create the initial lump sum from two transfers.