We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Is this allow?
P3
Posts: 169 Forumite
I have regular saver ISA which only allow put in £500 per month. So £6000 a year. No top up allowed.
I know the cash ISA rate is terrible but I just want to know if this is allowed.
Open SSISA, put in the rest of the allowance, with the pure intention of transfer it to away to cash ISA.
I know the cash ISA rate is terrible but I just want to know if this is allowed.
Open SSISA, put in the rest of the allowance, with the pure intention of transfer it to away to cash ISA.
0
Comments
-
Yes you can use the rest of your allowance in another type of ISA, such as a S&S ISA, then transfer to a cash ISA after the end of the tax year. Note that some S&S ISA providers have charges for transfers.
0 -
And some cash ISA's do not allow a transfer from a stacks and shares ISA0
-
Why on earth would you want to do this? You already know the rates are terrible, and there are better options outside of ISAs for cash savings.1
-
Can you explain your rationale for wanting to do this? If it's short term money then get the best rate regardless of the type of account. If it's long term money then S&S ISA or pension would be the better option anywayP3 said:I have regular saver ISA which only allow put in £500 per month. So £6000 a year. No top up allowed.
I know the cash ISA rate is terrible but I just want to know if this is allowed.
Open SSISA, put in the rest of the allowance, with the pure intention of transfer it to away to cash ISA.Remember the saying: if it looks too good to be true it almost certainly is.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards

