moving existing isas

haycorns

Can you help please I have confused myself.

I have a halifax isa from previous years which I need to move as the promotional rate has ended. I have also taken out a Nationwode Flexcusive ISA and paid into it this year - this has a rate of 4.25% I believe.

Can I open a Santander and just move the halifax amount or do I have to consolidate it all into one account as I have paid in this year.
The santander application asks me to declare I haven't paid in this year but says you can open with zero deposit if you are just transfering old ISa.

Don't want to screw it up.

Thanks

badger09

haycorns wrote: »

Can you help please I have confused myself.

I have a halifax isa from previous years which I need to move as the promotional rate has ended. I have also taken out a Nationwode Flexcusive ISA and paid into it this year - this has a rate of 4.25% I believe.

Can I open a Santander and just move the halifax amount or do I have to consolidate it all into one account as I have paid in this year.
The santander application asks me to declare I haven't paid in this year but says you can open with zero deposit if you are just transfering old ISa.

Don't want to screw it up.

Thanks

Yes

You can open the Santander ISA just for the transfer of your old Halifax ISA. You don't have to consolidate it all into one account. Obviously, you need to let Santander do the transfer for you, rather than move the money yourself.

You won't be able to pay any more into it as you've already paid into your Nationwide ISA this year, unless of course you also transferred your Nationwide ISA - but that wouldn't be very clever in view of the 4.25% rate :T

haycorns

Thanks - that's what I really wanted to do - just thought I had mucked it up with the nationwide.

badger09

haycorns wrote: »

Thanks - that's what I really wanted to do - just thought I had mucked it up with the nationwide.

You're welcome.

Its a pity you didn't transfer your Halifax ISA a few weeks ago. Santander dropped their rates very recently.

Its worth keeping an eye on rates even before any promotional rate expires, though the very best rates tend to be available March to June. Unlikely to find anything to rival the Nationwide Flexclusive 4.25% though

haycorns

I'll have to settle for 3% . Normally I'm good but everyday life got in the way this time. I can move it again in April though.