ISAs

colinr55

Hi I have just opened a Barclays ISA yet it was only after completion when I opened a link to another webiste that I realised that I dont think I got the top rate, apparently AA. Am I permitted to close this Barclays ISA and transfer the cash to the other account or would this not be possible. I think I already know the answer but I would appreciate confirmation

talana

You've opened a Barclays ISA but have you yet added any money to it?
If not, just go right ahead and open the AA one as well. You can open as many as necessary, provided you only contribute to one per tax year.

If you have, then open the AA account and ask them to transfer the funds across. Don't withdraw funds from Barclays.

xylophone

http://www.theaa.com/savings/access-isa.htm
"Transfers from other cash ISAs are not allowed."

Might be relevant in this case?

badger09

colinr55 wrote: »

Hi I have just opened a Barclays ISA yet it was only after completion when I opened a link to another webiste that I realised that I dont think I got the top rate, apparently AA. Am I permitted to close this Barclays ISA and transfer the cash to the other account or would this not be possible. I think I already know the answer but I would appreciate confirmation

Check the terms and conditions for the particular ISA you have opened. If there is a 'cooling off' period during which you are allowed to cancel, you can do so, and once confirmed, your money will be returned and you can start again :j

RoxRoxBling

badger09 wrote: »

Check the terms and conditions for the particular ISA you have opened. If there is a 'cooling off' period during which you are allowed to cancel, you can do so, and once confirmed, your money will be returned and you can start again :j

The same thing I'd suggest. Normally you can close the account within 14 days of opening, you'll get your cash back, and I'm assuming it will not count towards your ISA allowance!