Re transferring isa

joe134

Hi guys, I have an is a maturing 6th Jan, and want to transfer to another provider. From Halifax.
As I have already opened one with HSBC, loyalty, I can just transfer it to there, but, at 1.2 per cent, Nono.
That means opening one, just to transfer in.
There,s PO , AA, or Shawbrooks, paying 2 per cent fixed for 2years.but
I cannot remember if you can just open, just to transfer in?
Can you?

Vortigern

Generally speaking, yes you can open by transferring. There's nothing in HMRC's ISA rules to prohibit this.

I've no experience of the providers you mention.

xylophone

You should check the web site of the.provider of the account to which you wish to transfer to confirm that transfers are accepted - if so, it should be clear whether you need a form sent through the post or internet application.

joe134

Thanks guys.
They all accept transfers in.
As I have several maturing over the next 6 months, too much to have under one banner, and wanting to consolidate, it may mean, losing a bit of interest, at present,and keeping them in cash isas ,until they all mature, then split them in to 2 isas, £75k each? Fixed!
Trouble with that is, rates may fall even further?:( until the last one matures.
Swings and roundabouts!
Perhaps it may be wise to do transfers via phone, as online may complicate things? :rotfl:

joe134

Vortigern wrote: »

Generally speaking, yes you can open by transferring. There's nothing in HMRC's ISA rules to prohibit this.

I've no experience of the providers you mention.

Hi Vortigern, that,s how I would like to open one, with a transfer, as I already have a 15/16 one open,cash!
I have had PO and AA before, both Bank of Ireland, I think, so got to watch that!,,:beer:

bigfreddiel

Look the rules are so simple a child could understand it

You can open as many ISA's as you like.

You can only add new money to one of them

Money already in an ISA is not 'new money' so you can transfer this to as many ISA's as you like.

Not exactly hard now is it?

Happy holidays

fj

joe134

bigfreddiel wrote: »

Look the rules are so simple a child could understand it

You can open as many ISA's as you like.

You can only add new money to one of them

Money already in an ISA is not 'new money' so you can transfer this to as many ISA's as you like.

Not exactly hard now is it?

Happy holidays

fj

If only it were as easy as you say!
As I have been investing in Isas since they came out, and have approx £13000 in them X 2 for OH, I think I know a bit about them.
However, trying to consolidate them is NOT child's play, and I have never opened an Isa with transferred money only, in all these years!
I,ve always transferred them to another, already open, that,s what consolidating is, unless you want dozens of separate Isas?
I have 6 to consolidate in the next few months, and with the £75k rule, it means I will have to have two.
Not all providers allow transfers in, or split transfers out, or open solely with transferred money, etc.etc?
Even when you have planned the consolidation, the likes of Halifax et.al can get it wrong, as they did with me, and you are back to square one!
It happens often. Transfer letters going astray, not receiving one,etc.
I could go on ad infinitum.

So, forgive me for saying, you don,t know it all!
Neither do I, that,s why I asked the OP question, which you have not answered, probably because you probably didn't,t read it?
Happy holiday to you too.
rtfp,
J.:beer:

colsten

It's still as simple as bigfreddiel said it is.

I am surprised you haven't found out for yourself many years ago, as you are clearly not a novice at cash ISAs. I am also surprised that you appear to have all your money in cash.

Pincher

joe134 wrote: »

As I have already opened one with HSBC, loyalty, I can just transfer it to there, but, at 1.2 per cent, Nono.

It was 1.6% a year ago, for Premier, 1.5% for not Premier.


I don't think anybody wants your money any more.


It's like the bath water getting colder and colder.
Do you want to get out when you sneeze, catch a cold, or get pneumonia?

joe134

Pincher wrote: »

It was 1.6% a year ago, for Premier, 1.5% for not Premier.


I don't think anybody wants your money any more.


It's like the bath water getting colder and colder.
Do you want to get out when you sneeze, catch a cold, or get pneumonia?

yep,Pincher, it would have been good if they had left it at that,at least till april, then I would have used it to consolidate all the others.I may still do yet.
I will be switching it when I've had all my £10's
It was certainly worth the punt though
I've been with Hsbc for 57 years, they don't give much away.
.:beer:

joe134

colsten wrote: »

It's still as simple as bigfreddiel said it is.

I am surprised you haven't found out for yourself many years ago, as you are clearly not a novice at cash ISAs. I am also surprised that you appear to have all your money in cash.

I don't have all my money in cash;Why do you presume that?
You get surprised often.
we have had this chat before.
If you mean SS Isas, I preferred cash, and played the market in other ways, over the years..My capital in the cash Isas, was/is never at risk, only against inflation.
At over 70, cash is king anyway.
Over the years that Isas , toisas, and Tessas have been going, anyone who didn't take full advantage of them, if they had the money, in" my opinion", was a bit short sighted, for obvious tax reasons.
I'ts only lately that the banks don't want them.
They are a good hedge against IHT.;)
I don't disagree opening Isas isn't easy,it's a doddle, BUT, trying to consolidate them, and not having umpteen of them can be rather awkward, whilst trying to maintain the best rates possible..
Already having 46 A/c's between myself and OH, including everything,Isas included, it pays to consolidate, if only for those that have to sort your affairs out when you cannot..
I've come out of the market at 7000, ( not a daft move was it?)
I may dip back in later.
It doesn't pay to think one knows it all.
I certainly don't, otherwise, I wouldn't have asked the OP.
Which was answered by Vortigern, and Xylophone, politely.
Rather a long answer to your post, but sometimes, flippant remarks, just don't cut it.

If we did, all these threads/posts, wouldn't be required.
Ignorance is Bliss, Tis folly to be wise?