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Top Cash ISAs Discussion Area

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  • jolly44_2
    jolly44_2 Posts: 5 Forumite
    Help please!

    I am asking this question again, hopefully explaining my problem a little clearer!

    Does any one out there know any Mini Cash ISA providers who allow partial transfers out?

    As well as a seperate account with this years ISA allowance in I also have a ISA account with B & B holding all my previous years allowances and I would like to transfer the whole amount OUT from them and then IN to a new provider who will allow me to transfer OUT part of the balance to another ISA provider giving me two smaller amounts. I know that you are allowed to hold ISA accounts with several providers as I have done so in the past- I dont know why I transferred then all together into one account as I am regretting it now!! and I am aware that I can only invest 3K in one a/c only each year.

    I was just about to fill in a transfer form for Icesave then gave them a ring regarding this question and their answer was no - so I am now looking around for a different provider

    I'm hoping there is another MSE member who has been able to do this or knows of where I can!

    Thanks Sue.
  • Lavendyr
    Lavendyr Posts: 2,610 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You can't subscribe to more than one ISA in one tax year, so you can't split one year's subscription into two accounts, it's da rulez unfortunately.
  • alastair_h
    alastair_h Posts: 548 Forumite
    acrobat wrote: »
    apologies if question stupid :o

    took out our first cash isa using the 3k limit but didnt take it out till may 07. going to take out another one before april 6th so as the first one in my name will do the second in hubby's... think this is right thing to do?
    just wondered though, how does the interest get paid? i understand its yearly but is that to april or the month you took out the isa. also can the interest stay in the isa or not??
    hope this makes sense, and thanks in advance :confused:

    Acrobat,
    Financial years for ISA's run 6th April to 5th April. You have used your own allowance for 2007/8 by depositing £3,000 in your name. If your husband hasn't used his allowance I think it would be a good idea to to open an account and deposit upto the £3,000 current limit (or his 2007/8 allowance is lost).

    Then from 6th April 2008 both you and your husband will be able to add further to your 2008/9 financial year contribution (which is going up to £3,600 each for Cash ISA).

    Next thing is to make sure you have a good interest rate and transfer if not (remember to transfer correctly, don't twithdraw money out or you will loose ISA for that tax year).

    Hope this helps.
    "Every Pounds A Prisoner "
    "Loyalty to the Best Interest Rate"
    :beer:
  • ali99
    ali99 Posts: 319 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Hi all

    My husband and I are both opening mini cash isas with alliance and leicester now - we currently have isas with national savings and investments but they are not now the best rate. I understand from martins article and from this thread that currently you can add £3000 each per year. We have already added £1000 to one isa this year and want to transfer this over to A and L and add the other £2000. I thought I understood correctly that this was absolutely fine, but then I got confused - when you open the isa with alliance and leicester, it makes you agree that you have NOT added to another isa within this tax year. So is what we are doing OK or not OK??
    Thanks
    Ali
  • bristolleedsfan
    bristolleedsfan Posts: 12,645 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ali99 wrote: »
    Hi all

    My husband and I are both opening mini cash isas with alliance and leicester now - we currently have isas with national savings and investments but they are not now the best rate. I understand from martins article and from this thread that currently you can add £3000 each per year. We have already added £1000 to one isa this year and want to transfer this over to A and L and add the other £2000. I thought I understood correctly that this was absolutely fine, but then I got confused - when you open the isa with alliance and leicester, it makes you agree that you have NOT added to another isa within this tax year. So is what we are doing OK or not OK??
    Thanks
    Ali

    Adding another ISA means opening 2 ISAS with two different providers, transferring your ISAS over to A+L and adding funds up to the annual limit is fine. ;)
  • bristolleedsfan
    bristolleedsfan Posts: 12,645 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lavendyr wrote: »
    You can't subscribe to more than one ISA in one tax year, so you can't split one year's subscription into two accounts, it's da rulez unfortunately.


    U can split one years subs into two ( or more) accounts as long as u not splitting the current tax years subs. ;)
  • bristolleedsfan
    bristolleedsfan Posts: 12,645 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    jolly44 wrote: »
    Help please!

    I am asking this question again, hopefully explaining my problem a little clearer!

    Does any one out there know any Mini Cash ISA providers who allow partial transfers out?

    As well as a seperate account with this years ISA allowance in I also have a ISA account with B & B holding all my previous years allowances and I would like to transfer the whole amount OUT from them and then IN to a new provider who will allow me to transfer OUT part of the balance to another ISA provider giving me two smaller amounts. I know that you are allowed to hold ISA accounts with several providers as I have done so in the past- I dont know why I transferred then all together into one account as I am regretting it now!! and I am aware that I can only invest 3K in one a/c only each year.

    I was just about to fill in a transfer form for Icesave then gave them a ring regarding this question and their answer was no - so I am now looking around for a different provider

    I'm hoping there is another MSE member who has been able to do this or knows of where I can!

    Thanks Sue.


    Here you go, if u click on BS name, visit their website and look at the ISA terms and conditions u will be able to find out, ( and post back) which ISA providers allow both partial transfers in and partial transfers out. ;)



    Nationwide


    Britannia


    Yorkshire


    Coventry


    Chelsea


    Skipton


    West Bromwich


    Leeds


    Derbyshire


    Principality


    Cheshire


    Newcastle


    Norwich & Peterborough


    Stroud & Swindon


    Dunfermline


    Nottingham


    Scarborough


    Kent Reliance


    Progressive


    Cumberland


    National Counties


    Furness


    Cambridge


    Leek United


    Saffron


    Hinckley & Rugby


    Manchester


    Darlington


    Newbury


    Monmouthshire


    Melton Mowbray


    Market Harborough


    Barnsley


    Ipswich


    Marsden


    Hanley


    Tipton & Coseley


    Teachers


    Loughborough


    Mansfield


    Dudley


    Vernon


    Chesham


    Scottish


    Bath


    Chorley & District


    Holmesdale


    Stafford Railway


    Harpenden


    Buckinghamshire


    Beverley


    Swansea


    Earl Shilton


    Shepshed


    Penrith


    Ecology


    Catholic


    City of Derry


    Century


    Heres some info that has been posted elsewhere. :beer:


    Barnsley Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Bath
    Beverley Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Britannia Transfers IN: Full YES Partial NO Transfers OUT: Full YES Partial NO
    Buckinghamshire Transfers IN: Full YES Partial Not known. Transfers OUT: Full YES Partial Not known
    Cambridge
    CatholicTransfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES *£30 Fee may apply for transfers out
    Century *No ISA products*
    Chelsea Transfers IN: Full NO Partial NO. Transfers OUT: Full YES Partial YES
    Chesham Transfers IN: Full NO Partial NO. Transfers OUT: Full YES Partial NO
    Cheshire Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Chorley
    City of Derry
    Coventry
    Cumberland
    Darlington
    Derbyshire Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Dudley
    Dunfermline
    Earl Shilton
    Ecology Transfers IN: Full YES Partial NO. Transfers OUT: Full YES Partial NO
    Furness
    Hanley Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES *At times The Hanley restricts transfers in
    Harpenden
    Hinckley & Rugby Transfers IN: Full NO Partial NO. Transfers OUT: Full YES Partial YES * £25 fee applies for transfers out
    Holmesdale Transfers IN: Full NO Partial NO. Transfers OUT: Full YES Partial NO
    Ipswich Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Kent Reliance Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial NO
    Leeds Transfers IN: Full YES Partial NO Transfers OUT: Full YES Partial YES
    Leek United Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Loughborough Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Manchester *No ISA products*
    Mansfield Transfers IN: Full NO Partial NO. Transfers OUT: Full YES Partial NO
    Market Harborough Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Marsden Transfers IN: Full NO Partial NO Transfers OUT: Full YES Partial NO
    Melton Mowbray Transfers IN: Full NO Partial NO Transfers OUT: Full YES Partial NO
    Monmouthshire Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    National Counties Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Nationwide Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Newbury
    Newcastle Transfers IN: Full YES Partial NO Transfers OUT: Full YES Partial NO
    Norwich & Peterborough Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Nottingham
    Penrith
    Principality Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Progressive Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial Not known
    Saffron Transfers IN: Full YES Partial YES Transfers OUT: Full YES Partial YES
    Scarborough Partial YES Transfers OUT: Full YES Partial Not known
    Scottish Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial NO *£30 Fee may apply for transfers out
    Shepshed Transfers IN: Full YES Partial NO Transfers OUT: Full YES Partial NO
    Skipton Transfers IN: Full YES Partial NO Transfers OUT: Full YES Partial NO
    Stafford Railway Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Stroud & Swindon Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial NO
    Swansea Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial NO
    Teachers Transfers IN: Full: Not known Partial : Not known Transfers OUT: Full YES Partial YES *£30 Fee applies for transfers out
    Tipton & Coseley Transfers IN: Full NO Partial NO. Transfers OUT: Full YES Partial NO
    Vernon Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    West Bromwich Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES
    Yorkshire Transfers IN: Full YES Partial YES. Transfers OUT: Full YES Partial YES



    Society
  • tabatha
    tabatha Posts: 10 Forumite
    Both myself and husband have opened new ISA's this year which now has the max in. Previous years are with another provider and just want to know if we can open new accounts with another provider and transfer the previous years' in? I'm not sure whether that is legal or not despite having read some info.
    :confused:
  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Yes you can.

    Previous years allowances are totally seperate from this years allowance, so you can open a second ISA purely for the purpose of a transfer as long as you don't put any new money into it.

    Personally I find it easier to manage with it all in one account.
    It means there are less transfers.
  • johncolescarr
    johncolescarr Posts: 294 Forumite
    Hi,

    Can anyone help me, I have a cash ISA with Egg at 6.05%. Interest is paid annually on the annaversary for the account opening, which is in August. If I transfer the ISA to a new, better paying ISA account, will I loose my interest I could earn if I hold onto the account til August. I understand that most ISA accounts pay interest annually. For clarification, I have held the account for less than 1 year

    Thanks

    John
    Mortgage £120K, monthly overpayment £600, 18 years and £100K saved
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