Transferring ISA at a later date

Money_Maker_Shaker

I've currently got an ISA (2006/7 tax year) and Flex account with Nationwide and so in theory could pay into a new ISA today via the internet banking. I, however, would prefer the Barclay's one due to the better rate and have got their application pack. But I'd need to go to the branch tomorrow to prove my ID and as I'm due to give birth any day now and the last thing I'm upto is a trip into town!

My question is - if I open the Nationwide one for now can I transfer the £3k over to Barclays in a few weeks?

Many thanks

MMS

david78

No. You can't transfer ISAs to Barclays 6.5% AER a/c.

Money_Maker_Shaker

Thanks for the quick reply. Looks like I might be best to stick with Nationwide again so at least I know I've got one open, who knows how long it will be before I've got the time to get this sorted otherwise with a new baby in the house.

Indispensable_Hobbes

You can apply for the Barclays one online, then all you need to do is take it to the branch with your identification and £1 or more.

Don't close the nationwide one, transfer it to another provider with a better rate (if there is one) then just don't contribute to that contribute to Barclays.

1jim

Is it ok to transfer my previous years isa to another provider (to get a better rate) and then not pay into it this year?
dont know if that makes sense, I would like to pay into a new isa (year 2007-08) either egg or barclays for the better rate. But would also like to move previous years isa to a better provider,,,now I would be moving this isa this year but would not be adding to it...is this allowed and do isa providers allow this or do they transfer the previous years isa and then expect you to pay in to it for this year as well
thanks
Jim

david78

Yes 1jim, this is allowed.