Virgin > Virgin ISA transfer

gele

Thanks. I didn't see an option transfer another in [or maybe I did but because issue 4 hadn't matured didn't think I could] I have sent a secure message through online banking so I'll see how quickly I get a reply. I'm probably just being too eager. 

DavidAC

gele said:

Thanks. I didn't see an option transfer another in [or maybe I did but because issue 4 hadn't matured didn't think I could] I have sent a secure message through online banking so I'll see how quickly I get a reply. I'm probably just being too eager. 

In my experience VM do no answer ISA related questions through secure messaging and provide you with a phone number to call instead.

gele

oh ok. I'll need to set aside 1/2 a day for that then  Thanks anyway

badger09

gele said:

oh ok. I'll need to set aside 1/2 a day for that then  Thanks anyway

Why don’t you just complete & post the xfer form? I’ll stick my neck out & say that is exactly what you’ll be told to do if you phone. 

soulsaver

gele said:

oh ok. I'll need to set aside 1/2 a day for that then  Thanks anyway

You can set up the VM transfer by phone, I've done it more than once. And if you phone early, you wont wait long.
Keep a note of the CS talked to, and the time and ask for the transfer reference. Calls are recorded but they sometimes make errors.

bioboybill

I have an Exclusive Fixed ISA 4 that I opened on 1st Feb 2023, and it matures matures on 1st February 2024. I also have an Exclusive Flexi ISA 2 that I opened in June 2023 and have been depositing into and withdrawing regularly. 

Am I able to open the Exclusive Flexi ISA 10 and transfer the money from my maturing Fixed ISA? I assumed that is ok so long as I don't put any more money into it. Then I could continue to deposit money into my Flexi ISA for the rest of this financial year, as that would be the only new money I put into Cash ISAs this financial year?

If that is ok can I open the new ISA and arrange the transfer in advance, or should I open the new ISA and wait until the maturing one finishes and then transfer it (within the 30 day limit of course)?

AmityNeon

bioboybill said:

I have an Exclusive Fixed ISA 4 that I opened on 1st Feb 2023, and it matures matures on 1st February 2024. I also have an Exclusive Flexi ISA 2 that I opened in June 2023 and have been depositing into and withdrawing regularly.

Am I able to open the Exclusive Flexi ISA 10 and transfer the money from my maturing Fixed ISA? I assumed that is ok so long as I don't put any more money into it. Then I could continue to deposit money into my Flexi ISA for the rest of this financial year, as that would be the only new money I put into Cash ISAs this financial year?

If that is ok can I open the new ISA and arrange the transfer in advance, or should I open the new ISA and wait until the maturing one finishes and then transfer it (within the 30 day limit of course)?

Virgin has a dedicated process for Issue 4 > Issue 10 transfers. You get to keep the same sort code and account number as well.

https://uk.virginmoney.com/vmforms/savings/isa-product-switch

While this application process includes an ISA Declaration, it will only be used if you choose to subscribe additional money to your new ISA. If you are only transferring money from your 1 Year Fixed Rate Cash ISA Exclusive Issue 4 you are free to subscribe to another cash ISA in this tax year.

badger09

AmityNeon said:

bioboybill said:

I have an Exclusive Fixed ISA 4 that I opened on 1st Feb 2023, and it matures matures on 1st February 2024. I also have an Exclusive Flexi ISA 2 that I opened in June 2023 and have been depositing into and withdrawing regularly.

Am I able to open the Exclusive Flexi ISA 10 and transfer the money from my maturing Fixed ISA? I assumed that is ok so long as I don't put any more money into it. Then I could continue to deposit money into my Flexi ISA for the rest of this financial year, as that would be the only new money I put into Cash ISAs this financial year?

If that is ok can I open the new ISA and arrange the transfer in advance, or should I open the new ISA and wait until the maturing one finishes and then transfer it (within the 30 day limit of course)?

Virgin has a dedicated process for Issue 4 > Issue 10 transfers. You get to keep the same sort code and account number as well.

https://uk.virginmoney.com/vmforms/savings/isa-product-switch

While this application process includes an ISA Declaration, it will only be used if you choose to subscribe additional money to your new ISA. If you are only transferring money from your 1 Year Fixed Rate Cash ISA Exclusive Issue 4 you are free to subscribe to another cash ISA in this tax year.

I got that email from VM today. I’ve already opened an issue 10 & xferred in a recently matured VM ISA. I also posted form to xfer in my issue 4 on maturity. 

I’m reluctant now to confuse VM by completing the process above and possibly end up with 2 issue 10s, depending which process they deal with first. Decisions decisions

boingy

I also have the Fixed ISA 4 maturing at the end of the month and today Virgin have told me it will automatically convert to an Easy Cash ISA 2, which is fine by me. I'm then free to transfer it to somewhere else if I want, or into a new Virgin Fixed ISA.

Bobblehat

badger09 said:.......

I got that email from VM today. I’ve already opened an issue 10 & xferred in a recently matured VM ISA. I also posted form to xfer in my issue 4 on maturity. 

I’m reluctant now to confuse VM by completing the process above and possibly end up with 2 issue 10s, depending which process they deal with first. Decisions decisions

I got that email too and also wondered if it's worth the hassle of contacting them to point out that I have requested a transfer to Issue 10 when Issue 4 matures. Will they have the sense to process that as a priority over the default maturity as mentioned in the email? Past experience makes me nervous!