Newcastle BS and Nationwide BS Split ISAs

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 785 views
montytb4montytb4 Forumite
14 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I've been looking at the item on best cash ISA's & in it mentions the Newcastle BS regular saver ISA & a loophole that provides the ability to set up two "split" ISAs at Newcastle & use an instant access one (with transferred from last years ISA) to drip feed the regular saver ISA.
The article then mentions the Nationwide regular saver & again there is the option to split, BUT not any mention of the loophole to use one to feed the other!
I rang the Nationwide helpline & initially they said it was possible to use an instant ISA & regular saver one in the same way, but then back tracked on that - "you cannot transfer ISA money into the regular saver ISA"!


Does anyone know if it is possible to do the same with the Nationwide ISAs as it is the Newcastle ones?


cheers

Replies

  • Archi_BaldArchi_Bald Forumite
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    You should check the T&Cs you can find on the Nationwide website. They will be the ultimate arbiter on what is allowed and what isn't, and how things work at Nationwide.
  • Thanks Archi,
    just checked the T&Cs & it says "Transfer into the account from any other ISA are NOT permitted", plus they will reject payments into the account from an existing ISA - returning the funds to the originating ISA.
    so end of that one then.
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