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Advise on opening a new ISA
snail1977
Posts: 3 Newbie
Hi,
My wife has an ISA which is attached to her current account and we pay in monthy for rainy day savings. The ISA was setup a few years back, but obviously money has been deposited into it this tax year.
Because money has been deposited into the ISA, is this deemed to be opening a new ISA for 2011/12. Would she be able to transfer the money out of this ISA to one with a higher rate now for this years savings?
The ISA allows transfers.
Many Thanks,
My wife has an ISA which is attached to her current account and we pay in monthy for rainy day savings. The ISA was setup a few years back, but obviously money has been deposited into it this tax year.
Because money has been deposited into the ISA, is this deemed to be opening a new ISA for 2011/12. Would she be able to transfer the money out of this ISA to one with a higher rate now for this years savings?
The ISA allows transfers.
Many Thanks,
0
Comments
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Yes thats fine. She should go to the new provider and ask to fill in an ISA transfer form and they will do the transfer. It may take a few weeks.
She can deposit the rest of her allowance in the new ISA once its transferred.0
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