ISA minimum deposit, needs clarification

galastur · 26 March at 11:48AM

Hello,

Just wanted some clafication regarding the "minimum" deposit.

I am looking into transfering my existing ISA into a two year fix. NOTE: I was going to use Cynergy bank but they appear to have removed theirs? so will go with Vanquis. Please correct me if wrong!

Image: https://us-noi.v-cdn.net/6031891/uploads/editor/yn/ssn4zs299cye.png

Both have a minimum deposit, and my question is, do I need to deposit that amount when I open the account? or can I just do the transfer of my existing ISA ? (is a larger amount that the minimum deposit)

Many thanks

masonic · 26 March at 11:53AM

The minimum deposit can usually be satisfied using monies from the transfer.

slinger2 · 26 March at 12:01PM

I requested a transfer to Vanquis yesterday. Didn't have to make a deposit first

PeskyBlunder · 26 March at 1:21PM

According to moneyfactscompare.co.uk and Cynergy themselves, the Cynergy ISA is still available. Transfers are usually good enough to meet the minimum deposit.