Questions about transferring from RBS ISA to Santander.

Awol

I have two questions regarding transferring cash from my RBS ISA to a Santander ISA.

1. Santander have an offer of a bonus of 2.8% if you deposit more than £2500. My question is does this need to be in addition to the transfer from a previous years ISA? Eg. If I transfer £5k would I need to deposit an additional £2.5k to qualify for the bonus?

2. There is some chatter on the forum about people experiencing problems transferring money from last years ISA to a new Santander ISA as they have already contributed towards this years allowance in their old ISA. Will this pose a problem for me as i have already paid £1.4k into my RBS ISA since April 6th?

Thanks in advance.

innovate

Awol wrote: »

1. Santander have an offer of a bonus of 2.8% if you deposit more than £2500. My question is does this need to be in addition to the transfer from a previous years ISA? Eg. If I transfer £5k would I need to deposit an additional £2.5k to qualify for the bonus?

You just need 2.5K in the account. That can all come from transfer in.

Awol wrote: »

2. There is some chatter on the forum about people experiencing problems transferring money from last years ISA to a new Santander ISA as they have already contributed towards this years allowance in their old ISA. Will this pose a problem for me as i have already paid £1.4k into my RBS ISA since April 6th?

You can transfer some or all of previous years' ISA(s). If you want to transfer any of the current year's money, you must transfer all of it.

Since you have not yet maxed your 2012-13 allowance, make sure you transfer into an ISA that allows further deposits (which I think the 3.3% Santander ISA does).

EDIT: Also it is advisable to handcarry the transfer request form into a Branch, to get a datestamped and signed copy. That way, you can be sure they have the transfer request - just in case there's a dispute later on.

Awol

Excellent. thank you for taking the time to answer my questions.