Transferring existing ISA and adding to it?

wookie6

Hi,

Just want to check a couple of things as this is my first time doing this.

I have an existing cash ISA from last year with Virgin money, I now want to make sure I am receiving the best rate for both this existing ISA and a new ISA for this tax year.

Looking at the guide it appears that for transferring in the best bets are:

Santander - 3.3%
Prinipality - 3.1%

So my first question is, If I transfer my existing cash ISA to one of these, does it then start to earn the 3.3% or 3.1% for this year?

And my second question is presumably I could then add to this existing ISA with the same bank / building society and earn the same rate, however could I transfer the existing ISA as described above and then open a new Cash ISA for this year with say the AA or Cheshire BS which don't allow transfers in, i.e. thus now earning say 3.3% or 3.1% on my existing Cash ISA and then 3.5% for my new years cash ISA?

Any help appreciated!

Zekko

wookie6 wrote: »

Hi,

Just want to check a couple of things as this is my first time doing this.

I have an existing cash ISA from last year with Virgin money, I now want to make sure I am receiving the best rate for both this existing ISA and a new ISA for this tax year.

Looking at the guide it appears that for transferring in the best bets are:

Santander - 3.3%
Prinipality - 3.1%

So my first question is, If I transfer my existing cash ISA to one of these, does it then start to earn the 3.3% or 3.1% for this year?

Yes.

wookie6 wrote: »

however could I transfer the existing ISA as described above and then open a new Cash ISA for this year with say the AA or Cheshire BS which don't allow transfers in, i.e. thus now earning say 3.3% or 3.1% on my existing Cash ISA and then 3.5% for my new years cash ISA?

Yes.