Sanatander 3.3% Easy Access ISA coming Monday

KTF

A transfer in should count towards the 2.5k as you can only put money in up to the allowance but transfer as many times as you like.

PowerSavingMode

Thanks so much for that, 'SG27" and "KTF', it really helps. I'll get on with the transfer as soon as the other one's rate is about to expire.

Nine_Lives

I'm just wondering why Santander's 3.5% isn't listed here: http://www.moneysavingexpert.com/savings/cash-isa-transfers

as it beats any of those listed.

KTF

The article is updated weekly and the ISA was officially announced on Monday.

I suspect they haven't got round to updating it yet even if it is bad timing with all the ISA information in this weeks email newsletter.

Nine_Lives

Nope, i had a look then & it was all the 3.1% figures. They've updated since & this one isn't listed.

I suppose they'll catch it for next update.

chaotic_j

Hi people,

If I had an ISA with Halifax which included deposits from previous years, which I had also part-deposited into this year, could I transfer it into the new Santander ISA without having to fund it?

If I then wanted to pay some more of this years allowance into the new Santander ISA, could I do so? as the rules say you can only pay into one per year; in the analogy of an ISA as being a cake, does that mean if I had multiple years ISAs i.e. multiple cakes, I can only pay into one and so in this instance I would be OK?

Thank you in advance.

innovate

chaotic_j wrote: »

Hi people,

If I had an ISA with Halifax which included deposits from previous years, which I had also part-deposited into this year, could I transfer it into the new Santander ISA without having to fund it?

If I then wanted to pay some more of this years allowance into the new Santander ISA, could I do so? as the rules say you can only pay into one per year; in the analogy of an ISA as being a cake, does that mean if I had multiple years ISAs i.e. multiple cakes, I can only pay into one and so in this instance I would be OK?

Thank you in advance.

You can only put new money into one cash ISA, and into one S&S ISA, each tax year.

You could open a Santander ISA (or other ISA which allows transfers in) and transfer your Halifax ISA into it, but you must not pay any more money into this year's Santander ISA then.

So if you want to top up this year's allowance, pay it into your Halifax ISA, before you ask Santander to transfer your Halifax ISA.

AFAIK, there is no minimum 'wait' period before you can request a transfer - - so wait until the money has cleared in Halifax, then open your Santander ISA and request a transfer. But check your Halifax ISA T&Cs to make sure this works.

GreenBitterfly

SG27 wrote: »

Maybe go with Halifax at 3% then transfer across if you reach the £2500 in the next year?

Thanks for the tip!, it's just frustrating when the best rates for an account depend on an opening balance of a (to me) large amount. I just wish there were better rates for low opening/operating balances.

marc.safc

not really sure what you can and cant do with ISA's

currently have a Santander ISA from this year. i gather the interest rate will plummet if i leave the money there beyond the next tax year. do i have to transfer to a new provider altogether or can i transfer the money from my current Santander ISA into the new rate Santander ISA then top up with next years allowance?

KTF

No you dont have to transfer to another provider and yes you can transfer from an existing Santander ISA to another Santander ISA (assuming the product you want allows transfers in).