Cash ISAs: The Best Currently Available List

bryanb

Sorry if this has been asked before but if I open an ISA by transferring in, is it possible to transfer in from 2 ISAs with different banks?

carpy

bryanb wrote: »

Sorry if this has been asked before but if I open an ISA by transferring in, is it possible to transfer in from 2 ISAs with different banks?

i'm sure that's fine...in fact i'm certain i've done that myself in the past:beer:

Kazza242

MarkyMarkD wrote: »

No, Kazza, I don't believe that they did re-start accepting transfers in and then re-stop it again. It was just missing wording.

You could well be right there. I checked their site on the day that they began offering that particular fixed rate ISA and they definitely didn't state (at that time) that they weren't accepting transfers in (again). I think it's good that they aren't dealing with transfers in, as they are obviously not able to cope with it, if last year is anything to go by.

Bryanb - Yes it is possible to transfer in two ISAs from different banks. However, if you are opting for a fixed rate ISA do check the terms and conditions to ensure that they don't mess it up. Some providers place transferred funds-in into a variable rate ISA (e.g. Halifax) and then convert it to a fixed rate ISA once all transferred funds have arrived. Some providers handle this differently so it's worth double-checking with them.

Kazza242

The new Bank of Cyprus UK Cash ISA Bond has been added to the first post of this thread.

It pays 3.20%, accepts transfers in and is fixed until 5th April 2010.

gruner

Just called to about the Julian Hodge Bank Fixed Rate ISA ( 1Year) rate has gone down to 3% as from today :rolleyes:


Looks like it might be Bank of Cyprus UK Cash ISA 3.20% for me know.

Anyone have any opinion on this bank?

tobed

Hello!

I think this thread is great and that Kazza is doing a brilliant job in putting together the latest offers.

I have two questions about the transfer of an ISA and I hope you can help me with that.

1.) If I transfer in the middle of a running tax year, is it all right to pay one part of my allowance to the first and the remaining part to the second ISA manager?

2.) Is it all right to pay into an ISA in the running tax year and open another ISA to tranfer old money, i.e. an ISA from previous tax years, in? And if so, do banks accept to open ISAs for old money only?

Thanks a lot and my apologies if that's already been asked. I tried the search function but didn't really find anything...

tobed

Paul_Herring

tobed wrote: »

1.) If I transfer in the middle of a running tax year, is it all right to pay one part of my allowance to the first and the remaining part to the second ISA manager?

Yes. In the situation you describe, you only ever have one ISA 'open' in the tax year. (The old ISA becomes non-open when the money for this year has been transferred out. 'Open' in this sense is HMRC's definition which is an account containing contributions from the current tax year, not merely an account that you've 'opened' with an instution but have not added any contributions.)

2.) Is it all right to pay into an ISA in the running tax year and open another ISA to tranfer old money, i.e. an ISA from previous tax years, in?

Yes. Previous years' contributions are considered separate from the current year's, and may be split. Indeed, your previous years' contributions (but NOT the current year's - they must be kept together until April 5th) may be split across a number of accounts if you so wish.)

And if so, do banks accept to open ISAs for old money only?

Any ISA that accepts transfers (not all do) and don't have a requirement to add new money (most don't) will suffice.

tiptoe_mouse

Kazza242 wrote: »

• Standard Life Direct Access ISA - 3.00%
  Rate guarantee? No. Rate effective from: 06/02/2009.
  Minimum deposit: £1. Operated via: Telephone.

Looks like the rate has now dropped to 2.65% as of 12th March 2009.

tiptoe

Milarky

bryanb wrote: »

Sorry if this has been asked before but if I open an ISA by transferring in, is it possible to transfer in from 2 ISAs with different banks?

It can cause problems in practice if you are transferring to a fixed rate. This happened in January, when transferring two different ISA accounts within the same bank to Halifax. It was never going to be possible to get the cheques (which have to be sent under separate covers) to arrive at Halifax in adjacent positions in the pile. So they had a lot of diffilculties but did mange to amalamate to a single balance in the end.

(So ask the new ISA provider, specifically, whether a double transfer to them will cause problems..)

Freedom33

Sorry if i'm coming across as green, have just transfered bulk of my money from e saving account to everyday account with first direct, and now im wondering should i also set up an ISA. Thing is first direct do two different ones, a regular saving isa paying 7% or another one paying 3.10%. Whats the difference, i dont understand. and what happens at the end of the year are you allowed access to ALL of you money with no penaltys. Thank you in advance for any advice.