Major ISA transfer to 123 ISA

OnlyMe_08

homerhotspur wrote: »

No, just the one account but instead of 4.1% expiring in May 2014 it is now 2.3% expiring on 1 /6/16 and you can top it up by £5940

Just to clarify, I already have the new 2.3% account funded with this years allowance of £5940.

My question is if I upgraded the major ISA online, will it just convert the existing Major ISA, effectively result in me having two 2.3% 123 ISAs (is this allowed?).

Or will Santander realise that I alreday have an existing NEW 123 2yr ISA and just transfer in the fund from the Major?

crumpetman

Perhaps send them a message online and ask?

What would you rather happen? Have two ISAs (one for new money and one for previous years) or one ISA?

Vortigern

OnlyMe_08 wrote: »

My question is if I upgraded the major ISA online, will it just convert the existing Major ISA, effectively result in me having two 2.3% 123 ISAs (is this allowed?).

I don't know the answer to your question but you can certainly have several ISAs with Santander. Whether you can have 2 of the same issue - I don't know.

It could be to your advantage to keep them separate - in case you need to withdraw some of the cash for an emergency.

Vortigern

OnlyMe_08 wrote: »

I am guessing no-one has transferred in their matured Major ISA into their existing 2014-15 123 2 yr FRISA using the online upgrade option?

I'm guessing you're right. This transfer is not possible.
The previous 123 ISA is now a closed issue. You would have had a limited time in which to add funds.