Halifax ISA Direct Reward extra .2% question

talexuser

Sure, a form would be needed for a transfer to a new organisation, within Halifax it is still your ISA and looks possible just by internal transfer - limit, the years allowance.

jennifernil

My 2 year fix has no "make a transfer" button, presumably as I cannot withdraw funds from it.

There were some posts a wee while back about transferring from one ISA product to another now needing an actual transfer form, will see if i can find them.

Yes, here....

https://forums.moneysavingexpert.com/discussion/3660141

2010

When I click "make a transfer" on my Reward ISA, the only options it gives from the drop-down menu is to other internal NON isa accounts.

opinions4u

2010 wrote: »

When I click "make a transfer" on my Reward ISA, the only options it gives from the drop-down menu is to other internal NON isa accounts.

"Make a transfer" is about moving funds between Halifax accounts in the same name.

If you've already funded an ISA this tax year, you don't want to transfer money to a different ISA account or you'll breach HMRC regulations.

2010

opinions4u wrote: »

If you've already funded an ISA this tax year, you don't want to transfer money to a different ISA account or you'll breach HMRC regulations.

The Halifax are allowing people to transfer money from their current cash ISA into a new 2 year fixed. (in the same year)

opinions4u

2010 wrote: »

The Halifax are allowing people to transfer money from their current cash ISA into a new 2 year fixed. (in the same year)

Yes, but it remains under the same account number and sort code.

You ring them up, they press some buttons, and your existing account designation changes.

2010

opinions4u wrote: »

Yes, but it remains under the same account number and sort code.

You ring them up, they press some buttons, and your existing account designation changes.

Incorrect.
see post #131

The existing account is still kept and a NEW account is opened.

talexuser

I was told my reward 4 could be turned into the 2 year fix immediately over the phone with the same account numbers. Maybe they send a form out for a signature in the post afterwards just to satisfy the regulations?

2010

talexuser wrote: »

I was told my reward 4 could be turned into the 2 year fix immediately over the phone with the same account numbers. Maybe they send a form out for a signature in the post afterwards just to satisfy the regulations?

This is correct you can do it over the phone immediately and keep the same sort and account number, but if you want to keep the 0.2% bonus you have to leave £1 in the existing account and transfer the rest into a NEW 2 year fixed account.

talexuser

Yes, see post #139.