Coop Bank - Transfer limit to ISA?

Tryingagainandagain

I have tried to move £10,000 from my co-op savings account to the ISA I hold with the same bank.

I get a message saying that it is not allowed. Same for a sum of £5000.00.

I have been able to transfer 1000.00.

My ISA is nowhere near "full" and all the accounts are my own and with the same bank.

Does anyone know why this happens?

If I closed my Co-op ISA could I transfer the whole amount to a new bank ISA at one time?

Careful_ly

The maximum amount you can put in an ISA for the current tax year is £5760.
If you haven't used your allowance for previous tax years that is lost.
Do not close an ISA if you want to continue earning tax free interest, it must be transfered. You cannot transfer it, you need to apply to a new institution and ask them to do this for you.

Tryingagainandagain

My mistake - i'd got it into my head that the limit was 11K.

Thank you.

ColdIron

The annual limit this tax year is £11,520, this can be all in an S&S ISA or up to half (£5,760) in a cash ISA and the remainder in an S&S ISA

Tryingagainandagain

Thank you - that was probably where I got the figure from.:o