Fixed rate cash ISA transfer 8 March at 1:37PM in ISAs & tax-free savings 3 replies 230 views

verona12

I want to transfer an existing fixed rate cash ISA from one provider to another. To do this I need to first open a cash ISA with the new provider. But I have already opened a cash ISA this year, so does this break the ISA rules? If so, how can I make the transfer?

jak22

You can only subscribe = add new money to one in a tax year so you can open another with the intention of only transferring in funds that you added to another ISA in a previous year. Often there is the option to set up a transfer during the application for the new ISA - just dont pay any new money in to it

If the old ISA was subscribed this year then you must transfer it entirely 

There is often a interest penalty to transfer a fixed rate ISA before maturity

Albermarle

verona12 said:

I want to transfer an existing fixed rate cash ISA from one provider to another. To do this I need to first open a cash ISA with the new provider. But I have already opened a cash ISA this year, so does this break the ISA rules? If so, how can I make the transfer?

If you read through the forum, you will see the answer to this and many other Isa Questions.

Ocelot

I've transferred 5 ISAs in the current tax year. No limit for existing funds.