Cash ISA Transfer

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 730 views
mattjellmattjell Forumite
10 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi all!

Quick question, my current ISA bonus rate runs out on the 19th September. I want to transfer it to the Northern Rock e-ISA and will therefore need to apply for their account. On the transfer form, I must put how much money is in the account that I wish to transfer. Am I able to add funds to my Northern Rock ISA whilst my existing ISA is still open (i.e. whilst the transfer is going through)? Also, could someone advise me how long the transfer generally takes?

Thanks!
:beer:

Replies

  • pqrdefpqrdef Forumite
    4.6K Posts
    mattjell wrote: »
    On the transfer form, I must put how much money is in the account that I wish to transfer.
    You won't know until the final interest calculation has been done. Say you want to transfer all the money. If they ask for an estimate, give an estimate.
    mattjell wrote: »
    Am I able to add funds to my Northern Rock ISA whilst my existing ISA is still open (i.e. whilst the transfer is going through)?
    If you have paid money into your existing ISA on or after 6th April, wait until you're told that the transfer is complete. Otherwise, you can pay money in straight away.
    mattjell wrote: »
    Also, could someone advise me how long the transfer generally takes?
    The guidelines say 10 working days.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • I have a direct debit set up for money to go in each week and normally put about £200 in just before and just after pay day (26th of each month). Would you suggest I don't do this whilst the transfer is going through? If not, when do you suggest that I transfer the ISA?

    :beer:
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