ISA- Can i move my money

beefster

I have a cash isa which has been running for a few years. The account is not offering the best return so i want to move the funds to a better rate.

Can i transfer the funds to another ISA with a differant bank without penalty.

masonic

It depends on the ISA you have.

FatDickie

On the main page while talking about ISA's it says....Always check every six months or so that your rate is still competitive. If not, transfer to a better payer.

My question is the similar to beefster's

My wife has an Easy Access ISA with Portman currently with a balance of £2.5k and getting 5.25%
We obviously need to keep the Portman ISA, at least until September to qualify for the windfall.

I have a Cheltenham & Gloucester Cash ISA currently with a balance of £4.4k and getting 4.80% This seems a fasirly rubbish rate and could get 6.5% with Barclays.

Can I move the Cheltenham & Gloucester ISA to a better payer before the end of this tax year? I have deposited my 3k limit into it during this year.

SeanW

You can transfer your C&G Cash ISA to another provider at any time you like (ask your new ISA to initiate the transfer, do not withdraw it), now, or in the next tax year etc... It doesn't say on their website if they charge, I doubt it though.

You just cannot add money to an ISA until the new tax year.

beefster

Mines with the Halifax at the mo. Wanted to transfer to Barclays but earlier poster advises that they dont accept transfers so looking for the next best thing today,