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Question regarding santander cash ISA issue 7?

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Hi folks,


Just a few questions about Santander cash ISA if anyone knows the answers?


1 I understand that its possible to top it up with as much as 15k from July, is this correct?


2 Does anyone know if its possible to just transfer online from an existing Santander account to the NISA without the whole hassle of having to go into the branch?


Many thanks
John

Comments

  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    If you wish to protect your existing ISA wrapper, you must not make an ISA transfer yourself.

    You might misunderstand what a NISA is - - all existing ISAs will be subject to the NISA rules from tomorrow. There is no need to transfer. This doesn't necessarily mean that you can pay up to £15K into all of them, but your existing Santander ISA issue 7 should allow top upping up.

    What sort of transfer did you have in mind?
  • If you're talking about transfering from, for example, your Santander current account to your variable rate instant access Santander ISA, then yes this is fine. You should see both accounts on your online banking and it is a straight forward transfer as you would ordinarily do between accounts.
  • VT82
    VT82 Posts: 1,085 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    It's possible to top up by £15k less anything you have paid in since 5th April.

    Transfers in from old ISAs would not count towards this.
  • trickydicky14
    trickydicky14 Posts: 1,244 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    If you're talking about transfering from, for example, your Santander current account to your variable rate instant access Santander ISA, then yes this is fine. You should see both accounts on your online banking and it is a straight forward transfer as you would ordinarily do between accounts.

    Can i ask a question, i have a 2year FIXED rate Santander ISA started in April this year how do i top this up to the new limit of £15,000?
    your above comment only talks about 'VARIABLE RATE' ISA.
    Do i have to start a new ISA for the extra cash or can i just move money in myself from my 123 account?
    All comments very welcome.
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  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Can i ask a question, i have a 2year FIXED rate Santander ISA started in April this year how do i top this up to the new limit of £15,000?
    your above comment only talks about 'VARIABLE RATE' ISA.
    Do i have to start a new ISA for the extra cash or can i just move money in myself from my 123 account?
    All comments very welcome.

    You must not start a new ISA if you already made deposits this financial year, which it sounds you may have done.

    If you check with Santander / their website, you will find that they will open their fixed rate ISAs for about a month tomorrow so people can top up to their max allowance.
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