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Transferring in
Martyn_H
Posts: 520 Forumite
Why is it some banks etc won't allow transfers in?
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Comments
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It limits the amount they have to pay interest on. It's similar to the bank setting a minimum or maximum account balance.
They also may just not be technically set up for it...1 -
context?Martyn_H said:Why is it some banks etc won't allow transfers in?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Maybe there's a thought that someone who transfers-in is likely to understand the transfer process and so more likely to transfer-out than someone depositing cash.
Of course there are plenty that do allow transfers in.0 -
context?
Cash ISA accounts - certain providers (Marcus is one) don't permit transfers in.
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