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Moving part of ISA for better rate

Tarquinius
Posts: 60 Forumite


Hi
I wonder if anyone could offer me advice about moving my ISA to another provider please?
A few months ago (during this current tax year) I opened a Cash ISA with the Post Office and put the cash into 3 different ISA products - Easy Access, 1 year fix and 2 year fix.
However the Easy Access part is now underperforming market rates (its paying 4.4%, but market leaders are paying 5%).
So I am wondering whether it is possible to move the Easy Access balance across to a different ISA provider, whilst leaving the fixed rate ISA products with the Post Office?
Or am I effectively stuck with the Post Office because I am committed to the fixed rate products I have with them?
Thank you in advance
I wonder if anyone could offer me advice about moving my ISA to another provider please?
A few months ago (during this current tax year) I opened a Cash ISA with the Post Office and put the cash into 3 different ISA products - Easy Access, 1 year fix and 2 year fix.
However the Easy Access part is now underperforming market rates (its paying 4.4%, but market leaders are paying 5%).
So I am wondering whether it is possible to move the Easy Access balance across to a different ISA provider, whilst leaving the fixed rate ISA products with the Post Office?
Or am I effectively stuck with the Post Office because I am committed to the fixed rate products I have with them?
Thank you in advance
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Comments
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Hi,does Post Office allow a partial transfer, then you need to find a provider that accepts a partial transfer.0
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It's not a partial transfer problem, the problem would be that the OP would have subscribed to more than 1 ISA Manager for an ISA of the same type in the financial year
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Hi,ColdIron said:It's not a partial transfer problem, the problem would be that the OP would have subscribed to more than 1 ISA Manager for an ISA of the same type in the financial year0
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The Post Office does seem to offer a 'portfolio' approach whereby you can spread the current tax year's allowance over different types of cash ISA, so I guess the question is - can the OP transfer the Easy Access ISA portion away to an alternative provider, while leaving the fixed rate ISAs with the Post Office, when the current year's ISA allowance is spread among them ?
As the latest issue of the Post Office's Easy Access ISA is paying 4.90% (which isn't too far under the best available elsewhere) then I suspect the easiest option would be to arrange an internal transfer to that one, as this would ensure that the current tax year's allowance remains together in the same place (with the one provider).
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frugalmacdugal said:Hi,ColdIron said:It's not a partial transfer problem, the problem would be that the OP would have subscribed to more than 1 ISA Manager for an ISA of the same type in the financial year
It's definitely an interesting question and one I've not seen debated on here before.1 -
frugalmacdugal said:Hi,ColdIron said:It's not a partial transfer problem, the problem would be that the OP would have subscribed to more than 1 ISA Manager for an ISA of the same type in the financial yearIt is new moneyTarquinius said:A few months ago (during this current tax year) I opened a Cash ISA with the Post Office and put the cash into 3 different ISA products - Easy Access, 1 year fix and 2 year fix.
It has been discussed here a few times in the past and not allowed, although it will be from April 20242 -
Wait until April 6th 2024 and you can do a partial ISA transfer. Before then, the only partial ISA transfer you can do, I presume, is from one Post Office ISA to another one.Reed0
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