When is it worth not transfering

igrieveuk

Just quick straight question, Under a £1000 in ISA is it worth transferring into new one or due to the low amount just to withdraw and deposit as new money?

Reason I ask is I just opened a new ISA account with my bank with the intentions of transferring my existing ISA fund into it but it has asked me to print of a form fill in and present in person at bank. Problem is I work all day, 6 days a week and was hoping to be able to just do the transfer online.

Thanks for reading

Ian

Gromitt

Normally you can post the form to the bank, you'll need to ring and ask them if you can do this.

jimjames

If you are unlikely to fill the ISA limit then there is little benefit in transferring especially if it means you can access a wider range of ISAs.

igrieveuk

@jimjames - yeah I'm very unlikely to reach the limit this current financial year, I was thinking that it wouldn't really make that much difference to me, I best start looking around then.

pqrdef

igrieveuk wrote: »

but it has asked me to print of a form fill in and present in person at bank.

That's a new one. I can only think that they're hoping you'll go away.

triciamei

Does anyone know about reinvesting a matured 3 year Index-linked savings into NS&I investment?
I was fortunate and followed Martin Lewis' advice, it will be maturing in the next month am wondering whether I should re-invest or is the interest rate too miniscule?
Thank you
Tricia