Isa with two providers

Sncjw

Right I have an 18month fixed isa with halifax which ends in October. I want to set up an isa with Newcastle building society on their regular saver isa

Now my question is can I open the isa with Nbs then transfer the isa from halifax to nbs when it ends.

Archi_Bald

Yes you can open an ISA with Newcastle. No you cannot transfer your Halifax ISA into the Newcastle Regular Saver (BHS) ISA as it does not allow transfers in.

Sncjw

Aww what can I do as I want to save but I know I won't be able to open another isa account in October.

eskbanker

Sncjw wrote: »

Aww what can I do as I want to save but I know I won't be able to open another isa account in October.

Not sure what you mean by not being able to open another ISA in October - there's nothing to stop you opening a Newcastle one now for current year subscriptions and then a different one in October that allows transfers in, into which you can put the Halifax money that represents prior year subscriptions. You can keep the two open in parallel for as long as you wish or combine them into another product that accepts transfers.

Or alternatively, depending on the sums involved, you may be able to find a home for some or all of your money that pays better interest, see http://www.moneysavingexpert.com/savings/which-saving-account

xylophone

Aww what can I do as I want to save but I know I won't be able to open another isa account in October.

You can transfer the maturing ISA into another ISA account that accepts transfers - ask the new provider to arrange the transfer.

Sncjw

You can only open one isa a year that's why I can't open one in October

Vortigern

Sncjw wrote: »

You can only open one isa a year that's why I can't open one in October

You can open as many as you like.

You can only pay in to one.

eskbanker

Sncjw wrote: »

You can only open one isa a year that's why I can't open one in October

Did you read my post #4 above?

Did you understand it?

Or are you saying you don't believe it?

Sncjw

Yeah but if I open a Nbs one and save I can't tranfer my halifax into another one can I if I can only pay into one each year

Vortigern

Sncjw wrote: »

Yeah but if I open a Nbs one and save I can't tranfer my halifax into another one can I if I can only pay into one each year

"paying in" or subscribing refers to new money being paid in this current tax year.

An ISA transfer moves old previous year money from one ISA to another. It does not count as "paying in". It does not use your allowance. It is permitted.