Ing Isa Transfer Problem

scrooge11

Hi - I'm a newbie!
I'm having great difficulty transferring an old Isa from Ing to a Halifax Isa a/c. Halifax told me to set up a money transfer but Ing will only allow you to transfer to a current account - presumably, if I transfer to a current account then I will lose the tax free status? How on earth do you do it?

Lokolo_2

scrooge11 wrote: »

Hi - I'm a newbie!
I'm having great difficulty transferring an old Isa from Ing to a Halifax Isa a/c. Halifax told me to set up a money transfer but Ing will only allow you to transfer to a current account - presumably, if I transfer to a current account then I will lose the tax free status? How on earth do you do it?

If I read your post right, you wish to transfer FROM ING TO Halifax? If that is the case then you must get Halifax to initiate the transfer process, usually they will get you to fill in an ISA transfer form with details of your previous ISA.

You definitely shouldn't self-transfer the money out of your ING ISA as it would then count towards this year's ISA allowance if you then wanted to re-deposit it into another ISA, if you follow the proper ISA transfer process then it won't affect your ISA allowance :j

scrooge11

Thanks again Lokolo2 - sounds like you can't transfer Isa's electronically - you have to get a form from the new provider and fill it in?

Lokolo_2

scrooge11 wrote: »

Thanks again Lokolo2 - sounds like you can't transfer Isa's electronically - you have to get a form from the new provider and fill it in?

Yes, although sometimes you can fill these forms in Online on the Halifax site too. The transfer is done electronically BY Halifax, this is the key point, that the new provider must initiate the transfer, not you.

calypso_rhapsody

My Mum transferred her ISA to Halifax and 'filled in the form' over the phone with the very helpful CS lady at Halifax - they did not appear to need her signature (though maybe they sent her a form to sign and i was not aware of it). The transfer was from RBS as i recall, certainly not ING

jem16

scrooge11 wrote: »

Thanks again Lokolo2 - sounds like you can't transfer Isa's electronically - you have to get a form from the new provider and fill it in?

I answered on your other thread too.

Basically apply online for your ISA here;

http://www.halifax.co.uk/savings/accounts/cash-isas/isa-direct-reward/

Don't put any new money into it unless you are planning to use if for this year's allowance.

Once you have applied, then fill in the trasnfer form from here;

http://www.halifax.co.uk/savings/accounts/cash-isas/transfer-your-isa/

You either have to hand the transfer form in to a Halifax branch or send it to the address quoted.

Once the Halifax transfer team have receiived your form they will send a request to ING to start the transfer to Halifax. This is all done by post. Once ING receive that transfer request from the Halifax, they will close your account and send the proceeds to the Halifax who will deposit it into your ISA.