ISAs, first direct and £15k savings - PLEASE HELP

binkybink

I'd really appreciate your help with some advice.

I have two ISAs (one a year for two years) with first direct - but I'm really unhappy with them in terms of the interest they pay and just the bank in general.

- Can I move my ISAs and still have two year's allowance? So I still have £6k in ISAs but just not with first direct?

Secondly - I've just inherited some money, about £9k of which will go into the savings.

- Where I am best to put £9k savings at the mo' - when I might need to get at the money fairly quickly?

I've read lots of info on the site - but I'm pretty dim when it comes to money so find it really hard to understand. It'd be great if one of you canny types could let me know how all this stuff applies to little old me!

Thanks in advance

:T

Aegis

You can move existing ISAs to a new provider, but this must be done using a transfer form obtainable from your prospective new provider. If you just take the money out and try to put it elsewhere you will not be allowed to complete the ISA subcription and will lose your allowance from the last 2 years.

As for the savings, somewhere like ICICI or Sainsbuys might be worth a look, as their interest rates are high and they are instant-access