Top Cash ISAs Discussion Area

whu

So, what can I do with my £6600 to earn more interest and when. Can I transfer to another ISA within this tax year or do I have to wait for next tax year. Would I still have next years allowance regardless?

Having a nice but Dim day.....[/quote]
You can transfer within this tax year - you don't have to wait - you will get next years allowance aswell - have a look at moneysupermarket.com for best current rates

leaphaze

davt41 wrote: »

Hi,

I would like to transfer my ISA as I am not getting the best rate. I do not have any penalties for doing this now, but will I loose all the interest I would have got if I transfer all my money. What will happen if I leave say £10 in the ISA I have at the moment.

Thanks

Not sure if I understand but hopefully this may help. If you transfer your ISA your provider should close your a/c; your transfered value will included the interest earned. If this is your current ISA, i.e. for this tax year, you won't be allowed to leave £10 behind since that would mean having more than one provider for the current tax year, which is against ISA rules.

debtworrier

Hi everyone.

I'm confused about what to do for next year's ISA (i.e. financial year 2009/2010). I currently have a cash ISA with Smile, which is paying virtually nothing in interest. So I should switch to a different provider for next year, right? But what's to stop the provider I choose from waiting until say, April 5 and then whacking its rate right down, knowing that I can't move to another provider for a whole year?

My ISA is my emergency fund, so I can't go fixed-rate and lock it away long-term.

Any comments appreciated.

Lokolo

You can transfer your ISA money as many times as you like at anytime you like (via ISA transfer)

debtworrier

Lokolo wrote: »

You can transfer your ISA money as many times as you like at anytime you like (via ISA transfer)

Oh, I see - I thought "can only have one ISA provider in any one tax year" meant I had to keep the account for a year.

Smile (the bank) - you're toast.

Thanks!

Lokolo

You can only contribute new money to an ISA each tax year. You can move the existing money around whenever you like. However you must do it by ISA rules;

Step 1: Go to new provider
Step 2: Tell them you want to open an ISA and transfer existing ISA funds in - do not deposit any new money in
Step 3: Fill in the form they give you
Step 4: Wait

deckard_2

Hello all you clever people out there,

I am going to transfer my sum of 1,800 from nationwide to somewhere else but was wondering is it best to wait till after april - the next tax year as at the moment the best offer I can find is natwest at 3.51% which is no great shakes. Would you say it's more likely lots of better offers will appear after april this year? (am not bothered about losing this year's allowance)

Cheers!
Deckard

brindles01

Hello MSErs, I hope one of you kind people can help with any advice for me please.

I have £6500 in the above that is obviously well past its sell by date!! Can you point me in the right direction to transfer this to another ISA with as little financial pain as is possible please?

vegasbride96

Just found out that Barclays has this morning released a new cash isa for 3.61 % .

Sorry id this isn't the right place to post this but i cannot work out how to post info on the website.

Pam

leaphaze

vegasbride96 wrote: »

Just found out that Barclays has this morning released a new cash isa for 3.61 % .

Sorry id this isn't the right place to post this but i cannot work out how to post info on the website.

Pam

Really. I think that must be the highest rate for lump sum investment. I think maybe the last few posters might be interested in this.