Transferring A&L Direct ISA 1 > Direct ISA 3

talksoncorners

I've current got a few years' of ISA subscriptions in an Alliance & Leicester Direct ISA issue 1, earning 5.5% pa.

I would like to transfer to a Issue 3 ISA, paying 5.9% pa. (which I've not set up yet)

However, I've already deposited £1000 this tax year into the Issue 1, and on the first page of the online application form for the Issue 3 it says amongst other things, that to apply: "You have not contributed to another Mini Cash or Maxi ISA in the same tax year that you subscribe to this Mini ISA"

Does this mean I'm stuck until April?
I know it's only an extra 0.4%, but it's probably £20-£30 in interest.

macca64

Why go with A&L? Kent Reliance http://www.krbs.co.uk/directisa.aspx offer 6.21%, so is a much better choice than A&L.

I transferred my A&L Issue 2 to KRBS and have had no problems.

HTH

talksoncorners

Good point, but I was after online access, it looks like Kent Reliance is postal only.

However, I've looked around, and Yorkshire Building Society now looks a good option at 6.05%, with no transfer in/out charges.

So, what I need to know, is can I transfer my money (including the £1000 I've already deposited this tax year) and then deposit the remaining £2000 of my allowance as and when I have it to hand?

masonic

Yes you can.

YBS is also bringing out a 1 year fixed rate account paying 6.5% on Monday. It's not clear yet whether that accepts transfers in, but it could be another option.