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
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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.
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And some cash ISA's do not allow a transfer from a stacks and shares ISA0
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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
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P3 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
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