Isa Transfers

Blondi32

My Husband has an Isa which has reached its deposits for this year....its with Natwest and its a 2% interest rate. So to continue saving I am looking to open an Isa, Can we Transfer his money into my new Isa as the interest rate will be higher?

innovate

No, you cannot transfer from one person to another.

However, unless your husband's ISA is a fixed-term one (which it doesn't sound like it is, with such a bad rate), he can open a new ISA and ask the new provider to transfer his existing ISA. The transfer must be done by the new provider.

psychic_teabag

There are currently a few regular-saver accounts which, despite being taxable, pay more than ISAs. A useful tactic is to build up your savings in such an account, and then transfer it over to an ISA when it matures, and start again.

I guess it's a little more effort than saving straight into an ISA - depends if you can be bothered. Also, regular savers tend not to allow early access to the money, so be careful if this doubles as your emergency savings.

xylophone

Your husband can transfer to a better rate as above - as it is "full" you can open an ISA of your own.