is it worth me moving my isa away from hsbc?

snowqueen555

Thanks for the replies, i have a few questions!

1) Can I transfer out anytime I want to another one and still be able to pay in this current year?

2) Will HSBC charge me anything like deduction of interest?

Thanks

snowqueen555

bump help, wanna transfer soon thank you !

redmalc

Snowqueen,if your ISA with HSBC is not a fixed term you can move without any penalty any time,possibly the way forward is for you to open a 2011/2012 isa with another operator and transfer the HSBC funds into it at the same time.if you want to go for a fixed rate it depends how long you want to tie in for,there are some good deals around at the moment for 2 year fixes.

jimjames

snowqueen555 wrote: »

Plus, is it possible to have a cash isa in one bank and a s&s in another bank?

Thanks

You may have your cash ISA in a bank but I would strongly suggest that no bank is worth using for your S&S ISA.

If you go to a fund supermarket like HL Vantage https://www.hl.co.uk then you will have the pick of the market at much lower cost than a bank will offer.

bigadaj

Apologies if this is obvious but make sure that you apply for the new account first and complete their transfer forms, don't close your account and transfer as this could remove the ISA wrapper.