Transferring & Opening Isas

Themuff

Hi everyone

I am looking to transfer money (From a previous year's ISA) to a Santander Direct ISA Issue 9 (3.3%), but also I am looking to open this rather nice Nationwide Flexclusive ISA (4.25%?), which I qualify for, but doesn't allow transfers.
Is it possible to do both, knowing I can only put in money into one of these ISAs.

Your comment would be greatly appreciated.

Many thanks

The Muff

innovate

Yes, you can transfer some or all of your "old" money into any new ISA that allows transfers in.

And also pay "new" money, up to £5,640 for 2012-2013, into either the same or a different ISA. Just make sure you pay the new money into only one of them.

I am doing similar to you - - transferring old ISAs into Santander, and opening new ISA for the £5,640 at Nwide.

davefromkent_2

Yes, it is fine to do that.

I will be doing exactly the same thing as it is the best way I can see of maximising interest using instant access ISAs.

Themuff

All done. No problems so far, so fingers crossed.

bondy01

Saves me asking this question. Got 10k in a Nationwide e-isa that the bonus expires in a few months so need to move it to the online isa or elsewhere. Intend to start the flexclusive isa in a couple of days. Nobody has said that if the base rate goes up then the interest rate on this will also. Mind you , it's not very likely is it?

Themuff

Hmmm, small problem!!!

Just received a declaration letter from Nationwide.

If you read the declaration points, one point says: -
"(e) I have not subscribed and will not subscribe to another Cash Isa in the same tax year that I subscribe to this Cash Isa"

Now, I have already applied to TRANSFER an ISA (It's in progress) from Halifax to Lloyds TSB, but have not put any NEW money for this tax year.

Iplan to put new money into the Nationwide ISA.
Do I still qualify for this Nationwide Flexaccount ISA?

What do you think?
Any help would be greatly appreciated as I am worried.

Mikeyorks

Themuff wrote: »

Do I still qualify for this Nationwide Flexaccount ISA?

.

Yes. Just answer 'Yes' to the question. (or whichever way gets you the ISA! You just sign it if it follows the HMRC model declaration)

You're only 'subscribing' to the one you put new money into. You're transferring old money into the other one ..... which is not 'subscribing'.