Can I transfer TESSA-Only-ISA + Cash Mini ISA?

MrMartyn

I've got a TESSA-Only-ISA (ie Matured TESSA) and a Cash Mini ISA. Both have such low interest rates that I'd probably be much better off with the money in a normal savings account, even without the tax relief!

What I want to know is... Can I transfer the money from both the TESSA-Only-ISA and the Cash Mini ISA into a new ISA (hopefully one with a much better rate of interest)?

Thanks,
MrMartyn

Disclaimer: I am not an expert. My comments are my opinions only and should not be taken as advice. If you act on anything I post here you do so entirely at your own risk. I do not accept any liability for anything I post here.

alanq

http://www.hmrc.gov.uk/isa/bullletin30.htm#10

gadgetmind

Isn't it easy to take your eyes off the ball!

What's the total value? Is it above the annual £5340 cash ISA limit? If not, your can start a new ISA and just move the money, failing that, you need to do a transfer. I'm pretty sure that TESSAs turned into cash ISAs in the same way that PEPs turned into S&S ISAs.

See this (old!) thread -
https://forums.moneysavingexpert.com/discussion/851023

xrjtg

alanq's link is very old.

You now have two Cash ISAs, so have all the usual transfer options open to you.