Switching an ISA to a current account

Dfects

Hiya

Our current Barlcyas ISA is only giving us around 1.5% at the moment. I've noticed the tsb "classic plus" giving 5% which also gives the £125 bonus via MSE. I'm just wondering if its possible to use the switching service to transfer our ISA over to this (second) current account? Or is it just for current to current.

tom222

Only possible to switch Current Account to Current Account. Just open a second basic one and switch it.

Dfects

Thought so, thanks!

jimjames

tom222 wrote: »

Only possible to switch Current Account to Current Account. Just open a second basic one and switch it.

But definitely worth doing if you have the amount that would fit in one or more current accounts when you can get up to 5% instead of the tiny cash ISA rates.

Dfects

Just signed up the other half. She has an old santander account so will hopefully be getting the £125 switch, plus £2000 of our savings to get the highest possible 5%.

I unfortunately don't have another account and will possibly miss the 1st Nov deadline if I try and get a donor one. I've just signed up for a first direct account with the £150 offer though and ditched barclays with their outsourced customer service and love for banking machines instead of staff I'll sign up for the TSB one and transfer another £2000 over to get the higher rate and move it around once a month through standing orders to meet the criteria.

Just out of interest, do you know of any easy free direct debits we can add to the account? I know we can use paypal to get one and never use it but not sure about the second. We can of course use it to pay a bill but rather keep them all together.

Archi_Bald

Dfects wrote: »

I'll sign up for the TSB one and transfer another £2000 over to get the higher rate

you know that you can apply for a joint account, too, so a total of £6K between the two of you?

Dfects wrote: »

Just out of interest, do you know of any easy free direct debits we can add to the account?

as has been discussed ad nauseam on this forum: Tesco savings accounts.

fuzzgun19

Archi_Bald wrote: »

you know that you can apply for a joint account, too, so a total of £6K between the two of you?

as has been discussed ad nauseam on this forum: Tesco savings accounts.

I'm considering moving my Nationwide cash ISA that's only getting 0.25% (has about 2k in).
I already have a sole TSB 5% account and FD reg saver 6%.

If I opened a joint TSB, could I cycle the £500 criteia from my sole TSB to the joint one every month, or does the money have to come from another bank?

colsten

fuzzgun19 wrote: »

I'm considering moving my Nationwide cash ISA that's only getting 0.25% (has about 2k in).
I already have a sole TSB 5% account and FD reg saver 6%.

don't forget the FlexClusive 5% saver. Also TSB 5%, M&S 6%, and HSBC 6% if you can get the Advance account.

fuzzgun19 wrote: »

If I opened a joint TSB, could I cycle the £500 criteia from my sole TSB to the joint one every month

yes*

fuzzgun19 wrote: »

, or does the money have to come from another bank?

no*

* but don't rely on what I say, check their T&Cs!

Dfects

Just to add closure to this thread, I signed up for an RBS account and switched it to TSB as soon as the cards arrived. Created a couple of direct debits and transferred in the required amount and today I had the £125 bonus paid in. Fairly easy money in all

fuzzgun19

colsten wrote: »

don't forget the FlexClusive 5% saver. Also TSB 5%, M&S 6%, and HSBC 6% if you can get the Advance account.

yes*

no*

* but don't rely on what I say, check their T&Cs!

Thanks, I might go with the Flexclusive.

Regarding the ISA, I assume I'd have to close it, then open the Flexclusive? or is there some way to just transfer the funds?

ceredigion

fuzzgun19 wrote: »

Thanks, I might go with the Flexclusive.

Regarding the ISA, I assume I'd have to close it, then open the Flexclusive? or is there some way to just transfer the funds?

But the Flexclusive is limited to £500 per month