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ISA Transfer - Quick Query
tomski1987
Posts: 13 Forumite
Hi all,
Just a quick query. My Halifax ISA rate is soon coming to an end and will drop dramaticly. At this point I have about £3000 remaining of my allowance and am not in a position to top it up right now, but will do before the end of the tax year.
If I were to move that ISA to another provider now will I lose the rest of my £3k allowance, or can I pay that into the new provider once the account is set up and the transfer has been completed?
Just a quick query. My Halifax ISA rate is soon coming to an end and will drop dramaticly. At this point I have about £3000 remaining of my allowance and am not in a position to top it up right now, but will do before the end of the tax year.
If I were to move that ISA to another provider now will I lose the rest of my £3k allowance, or can I pay that into the new provider once the account is set up and the transfer has been completed?
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Comments
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The latter, assuming the new ISA allows additional deposits. Fixed term ISAs usually only allow 1 deposit, or deposits for a certain time period. At this point, if you weren't allowed to deposit further you would lose the rest of your allowance.0
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Thats great Lokolo thanks, Its an instant access so I can put in additional deposits whenever I want
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Halifax have very poor rates at the moment. 1.65% is their latest pathetic offering or 0.2 % if you forget to transfer to it after your current rate runs out. Can only assume they are relying on customer apathy - usually works.
If you've got above £15k, 2.75% with HSBC (instant access with transfers in allowed) is starting to look v. good.0
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