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Can I transfer to highest rate, yet deposit at the Post Office?
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BrandNewDay
Posts: 1,717 Forumite
I have a cash mini ISA with NS&I. The rate isn't the greatest, but I need an account I can access easily in our rural area and into which I can deposit cash in dribs and drabs.
I know I'm allowed to open another ISA for the purposes of transferring balances, but how should I arrange it? Once I get up to a certain level, I would like to transfer the bulk of it onto a "back burner" where it can earn higher interest. I'd like to be able to "sweep" excess into this higher-rate account. Can I transfer as much or as little as I like to an account that accepts transfers, while still depositing into my Post Office account? Does it have to be the entire balance, or from previous years?
I know I'm allowed to open another ISA for the purposes of transferring balances, but how should I arrange it? Once I get up to a certain level, I would like to transfer the bulk of it onto a "back burner" where it can earn higher interest. I'd like to be able to "sweep" excess into this higher-rate account. Can I transfer as much or as little as I like to an account that accepts transfers, while still depositing into my Post Office account? Does it have to be the entire balance, or from previous years?
:beer:
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