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Transfer limits

Indout96
Posts: 2,371 Forumite


Tried searching but did not find what I was looking for so here goes.
(Background) I have used this years ISA amount but have another 12 month ISA coming due in Jan 2024, I am presuming that they will drop the interest as soon as the 12 months is up so I will be looking to transfer this to a new provider.
(Question) looking at Martins top buys for 12 month / 24 month fixes they all have a minimum amount e.g. Charter Savings bank is a minimum of £5k initial opening amount but as this will be a transfer rather than new money how do you open it without the minimum being paid in (the transfer will be well over the £5k)
hope that makes sense
thanks in advance
(Background) I have used this years ISA amount but have another 12 month ISA coming due in Jan 2024, I am presuming that they will drop the interest as soon as the 12 months is up so I will be looking to transfer this to a new provider.
(Question) looking at Martins top buys for 12 month / 24 month fixes they all have a minimum amount e.g. Charter Savings bank is a minimum of £5k initial opening amount but as this will be a transfer rather than new money how do you open it without the minimum being paid in (the transfer will be well over the £5k)
hope that makes sense
thanks in advance
Totally Debt Free & Mortgage Free Semi retired and happy
0
Comments
-
Hi,from Charter:You can indicate if you wish to ‘transfer in’ from
another ISA provider when you open your Cash ISA
with us. Alternatively you can download a transfer
form from our website.1 -
Indout96 said:Tried searching but did not find what I was looking for so here goes.
(Background) I have used this years ISA amount but have another 12 month ISA coming due in Jan 2024, I am presuming that they will drop the interest as soon as the 12 months is up so I will be looking to transfer this to a new provider.
(Question) looking at Martins top buys for 12 month / 24 month fixes they all have a minimum amount e.g. Charter Savings bank is a minimum of £5k initial opening amount but as this will be a transfer rather than new money how do you open it without the minimum being paid in (the transfer will be well over the £5k)
hope that makes sense
thanks in advance1 -
Indout96 said:(Question) looking at Martins top buys for 12 month / 24 month fixes they all have a minimum amount e.g. Charter Savings bank is a minimum of £5k initial opening amount but as this will be a transfer rather than new money how do you open it without the minimum being paid in (the transfer will be well over the £5k)
The only cash ISAs that I'm aware of where a cash deposit (new subscription) is mandatory are from those providers who don't accept transfers in, for example - Marcus and Zopa.1 -
Thanks everyone, been a while since we have needed to get things in to ISAs with the rates lately but we have been caught out a bit so trying to get as much as possible in to minimise tax. thought I was trying to over think it and seems I was right LOLTotally Debt Free & Mortgage Free Semi retired and happy0
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