Help with transferring ISA's

AlpineF30

Hi

I have a few questions and keep seem to find any answers on the net.

I have had a cash ISA for the past 3 years but it is providing little to no interest.

I pay into this every month.

I have applied and opened the Virgin 1 year fixed ISA account. I need to transfer my existing ISA to this. As it takes up to 15 days am I out of luck and will this mean I will be using next years allowance?

The reason I ask is because I was planning on opening another easy access ISA in the new tax year with the post office. Will the Virgin ISA count towards last years ISA or this years?

Thanks

Vortigern

The transfer does not affect your allowance.

AlpineF30

Vortigern wrote: »

The transfer does not affect your allowance.

Thanks

So I am safe to transfer all my money from my existing ISA into the Virgin one I opened today then open a new ISA and use it next week after the 6th of April?

Vortigern

Yes, provided that you use Virgin's transfer form.

badger09

You also need to cancel your monthly payments into your current ISA so nothing is paid in after 5th April.