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Another Transfer question
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suevel
Posts: 4 Newbie
I've had a cash mini ISA for a couple of years so it's got more than the £3K in it. If I transfer to a better rate ISA can I only move £3K max with me in the first year?
Thanks
Thanks
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Comments
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No, you can move the whole balance. The contribution is the bit that uses your allowance. Transfers do not utilise any allowance.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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BUT you must do them as a direct transfer between the two institutions - you CANNOT just withdraw the money from one, and re-deposit it with the second. Ask the second one for a form to authorise them to request the money from the first.0
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