Transferring ISA

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Comments

  • elkiedee
    elkiedee Posts: 81 Forumite
    First Post First Anniversary Combo Breaker
    There are several questions here and it may be that there was confusion in the questions asked or answers given. You can't open a brand new cash ISA with new money, but you should be able to transfer savings in an old cash ISA to a new one using transfer procedures. However, not all cash ISAs accept transfers in from other ISAs/other providers, you need to check that the provider and particular account that you want to transfer in will accept transfers and then apply using the transfer procedure - I think to the new provider/account - to maintain the tax benefits. 
  • cybernurse
    cybernurse Posts: 21 Forumite
    First Anniversary First Post Combo Breaker
    I would like to thank everyone for their input to this topic. I will now be perfectly happy to transfer my "old money isa" next month without fear of falling foul of HMRC. Just one thing - the Virgin idea is great since they are offering 5.25%. HOWEVER it comes to term ay the end of January 2025 regardless of when you open it so at this point it will not prove quite so fruitful.
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