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Ing isa and NSandI???help please
amritajay
Posts: 40 Forumite
only started saving this year in ISAs with an INGdirect ISA, fixed at 6.05% until september 30, 2007. Have £1636 in isa at present which is completely due to earnings in this financial year(07-08)...
I need to switch isa before end of sept as rate falls to 5.13%..
My question is:
Do i need to transfer the isa from ing direct to nsandi ??(i am aware nsandi does not accept transfers).
Since i started saving only this year, can i not just close ing isa and take the money out and put it in nsandi???
Will i still have £1385 balance of isa entitlement???
pls help, very confused...
0
Comments
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No. You cannot just close the ISA and open another one this year (even if you only intend to put in what is left of your £3000 allowance). You will need to transfer the ING cash ISA to another one if you want to improve on the 5.13% rate.
You can't transfer to the NS&I direct ISA, but there are others you can transfer to. There's a list here somewhere of the best ones that can be opened by a transfer.0
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