Transfer = minimum deposit?

Daeny

Hi guys.

I'm after a spot of advice. I have a ISA Saver Direct with Halifax which has just about £10.5k in it - I'm looking to transfer it into a new account for the new ISA year.

I'm currently ogling the Santander Direct ISA (Issue 9) which allows transfers and has a minimum deposit of £2.5k.

Can anyone tell me if my transfer of previous years funds would qualify as the £2.5k opening deposit? Or would it have to be my transfer plus £2.5K?

Thanks, knowledgey people!

evenasus

Well, I along with lots of others on MSE opened the Santander 4 year Major ISA and the transferred an ISA from another provider.

So I would assume your transfer would be counted as the deposit.

MB1919

I'll soon be doing something similar, so have looked into this.

On the Santander website:

"*Minimum opening deposit of £2,500 applies. You can open the account with a zero balance if you are transferring in an existing cash ISA (min £2,500). Account balance can drop below £2,500 and be eligible for the above variable rate bonus. **Includes 2.80% tax free/AER (variable) bonus."