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OLD ISA TRANFER TO NEW PROVIDER

Under ISA rules am I allowed to transfer old money to a new provider ( who accepts transfers in)  having used my full isa allowance for the current year or am I supposed to open a new isa with the new provider of  even £1 to be able to transfer the old  money to them , which I cant do because I have used years full allowance ?- confused 

Comments

  • eskbanker
    eskbanker Posts: 37,455 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It'll generally be possible to fund a new ISA exclusively with old money transferred from another provider, but there are sometimes products which require the depositing of new money, so check the terms carefully.
  • Beddie
    Beddie Posts: 1,018 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Most ISA providers allow you to open an account without any new money. Once you are at the "funding" section of the application you can usually choose - deposit, transfer or both.

    As eskbanker says above, not all allow this, but most of them do.
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