West Bromwich ISA Help

Jaykay8

Hi guys,

I currently have a West Bromwich Websave ISA account with £1 of this years allowance money (2011/2012).

Does anyone know how i can transfer any money to it before the tax year deadline, as i cant transfer it directly from another bank account: as there is no account number or sort code for the ISA (just a seven digit number).

I have the option of requesting money from my nominated account (linked with my West Bromwich ISA) but the soonest i can do it is the 10th April, which means i will miss the deadline.

Has anyone any suggestions? Perhaps i could close the ISA account with the £1 in and quickly open another ISA?

Many thanks

psychic_teabag

Could try phoning them to see if you've missed an option.

You shouldn't just close the ISA and reopen, but there seems to be the concept of "self-transfer" which is tolerated, if not fully endorsed by the rules. google for that and see what you find. But on the new ISA application you'd have to lie on the declaration, since you have subscribed to another cash ISA this year.

Jaykay8

Thanks for your reply,

I have phoned them and found there is no way of transfering any funds in quickly before the end of the tax year (so no direct bank transfer).

I did ask if i could close the ISA and open a new one, but they said it wasn't a good idea.

I will have to take this on the chin im afraid.