ISA Interest query

Guru86

Good Morning,

We are saving for a wedding and have filled my cash isa allowance for the year, my partner has a ISA but only paid a little in over the year so we have started to save in that account. However my partners account only pays 0.5% interest so want to open a new ISA and transfer this old account into the new one.

My query is when does the interest for the account get paid? Is it the end of the tax year or the anniversary of the account opening?

Also the old crappy ISA is with Halifax but want to open a new one with Halifax as my partner will find that easier to manage. Can I transfer the old Halifax one into the new Halifax one?

Thanks in advance,

Neil

opinions4u

Also the old crappy ISA is with Halifax but want to open a new one with Halifax as my partner will find that easier to manage. Can I transfer the old Halifax one into the new Halifax one?

Ring them up on 08457 26 36 46 and they'll sort it out quickly.

The online one pays 2.6%.

Interest is usually paid on 5th April on Halifax ISAs, but I'm not familiar with the newer accounts.

Lokolo

opinions4u wrote: »

Ring them up on 08457 26 36 46 and they'll sort it out quickly.

The online one pays 2.6%.

Interest is usually paid on 5th April on Halifax ISAs, but I'm not familiar with the newer accounts.

I actually tried that last night and the guy on the phone wouldn't do it, and told me to open the new one, fill in the ISA form and send it off, which I haven't had to do before even though I explained to him that its an internal transfer and I'm sure he could do it..... :mad:

Guru86

sorry to be dim.

Does that mean I can just quickly change the old isa to the new one without having to open a new one?

Lokolo

Guru86 wrote: »

sorry to be dim.

Does that mean I can just quickly change the old isa to the new one without having to open a new one?

Thats what I have done before, but I couldn't last night when I phoned.

DragonQ

They have in the past "upgraded" existing ISAs to newer issues over the phone or in-branch (although it took 14 weeks for mine to finally happen...). Not sure if they still do this but it's worth calling again and seeing if another advisor will do it for you.