Isa Interest (A&L)

lisyloo

then I would always go for the former

So would I.
However I wouldn't exclude the possibility of someone with higher capital, less wealth and more time on their hands wanting to make a different decision.

MiserlyMartin

Well now we have had a rate rise surely its time to move to YBS because when they review their rates next month they are likely to raise the rate to 5.6% or thereabouts. One question I have.... How would I move the A&L ISA to YBS? I've subscribed to it in this tax year.

Or can I only move the balance less £3000 from this tax year? I've always wondered about this. And how would I open an YBS one using only a transfer. Seems like they are only geared up for subscriptions in via cheque etc.

masonic

MiserlyMartin wrote:

is it possible to open another new ISA in the same tax year with solely transferred funds from another provider? ie move the A&L ISA to YBS when the A&L one was subscribed to in this tax year but also has funds from previous tax years??

Yes. Although, if you couldn't it might have put a stop to our rather tedious discussion above.

MiserlyMartin

Ok thanks, good. So hows it done? Will YBS let you open up an 'empty' account to transfer into?
(they have a minimum £10 balance)

YorkshireBoy

MiserlyMartin wrote:

One question I have.... How would I move the A&L ISA to YBS? I've subscribed to it in this tax year.

The process is explained fully on each providers website, but here's a summary...

• Apply online for YBS e-ISA
• Print out the form and write "transfer in" in the top margin
• Sign and send the form to YBS
• Once you have your account number etc, ring A&L, give them the YBS e-ISA details, and tell them you'd like to close the account and transfer all funds to YBS.
• Wait 3 days and check your funds are showing on YBS.

Provided you move your entire current year subscription from A&L, you can top it up to £3K at YBS.

Heinz

MiserlyMartin wrote:

Ok thanks, good. So hows it done? Will YBS let you open up an 'empty' account to transfer into?
(they have a minimum £10 balance)

Yes - http://forums.moneysavingexpert.com/showpost.html?p=4022101&postcount=25