two isas - confused!!

aspatrialil

Good afternoon all you isa warriors.

Now my question is:-

My Aldemore 2 yr. isa is about to expire (about £5000 in)
My Halifax 1yr. isa is also coming up to expire (£5430 in)

Can I transfer BOTH amounts in to a better one now (perhaps Buckinghamshire) and then in 2012 allowance put another maximum amount in which I already have in a Saver a/c with my general bank

I expect the answer is either yes/no but it is one that I don't know so will be delighted to get a reply. You are all so brilliant!!:D

ramjug

Yes, you can transfer your previous ISA's into one before 5th April.

bobthedambuilder

I assume both of your present ISA's are fixed term. What usually happens is they they are transferred to the provider's basic variable term ISA's (usually with a miserable interest rate).

You say you want to transfer them now. If that is strictly before the end of the fixed term date, just check what the T&C's say about early withdrawal - you may lose out. Maybe better to let them expire before you transfer.

thenudeone

You can TRANSFER into as many different ISAs as you want, subject to the terms and conditions of each ISA (and also merge ISAs by transferring), as long as any new money from the current year is kept together (which doesn't apply in your case)

aspatrialil

:beer: many thanks warriors and cheers