Can I Transfer NatWest Cash ISA into ex-Sainsbury's Cash ISA

scm

Hi,

I have a cash ISA with NatWest and recently my Sainsbury's cash ISA was transferred into NatWest. So when I look at my NatWest accounts I have 2 separate ISAs listed.
The old NatWest account has a lower interest rate than the ex-Sainsbury one (under 3% vs over 4%!).
I want to keep these investments with NatWest because they gain me a premier bank account.
Does anyone know if I can transfer the old NatWest ISA into the ex-Sainsburys ISA to benefit from the higher interest rate?

eskbanker

scm said:

Hi,

I have a cash ISA with NatWest and recently my Sainsbury's cash ISA was transferred into NatWest. So when I look at my NatWest accounts I have 2 separate ISAs listed.
The old NatWest account has a lower interest rate than the ex-Sainsbury one (under 3% vs over 4%!).
I want to keep these investments with NatWest because they gain me a premier bank account.
Does anyone know if I can transfer the old NatWest ISA into the ex-Sainsburys ISA to benefit from the higher interest rate?

Yes, NatWest will know.  Most ISA providers will allow money to be transferred between their products, but it'll depend on the Ts & Cs of the Sainsburys product, e.g. is it a fixed term product not accepting funding after an initial window?

clairec666

If the Sainsbury's one is still offering over 4%, sounds to me like it might be fixed rate? In which case, you're unlikely to be able to make further deposits/transfers into it.

scm

The ex - Sainsburys account accepts transfers and is variable rate.

Ch1ll1Phlakes

scm said:

The ex - Sainsburys account accepts transfers and is variable rate.

Then you should be able to transfer but it will depend on the T&Cs of the products and it's probably best to contact NatWest about this.

Also, is the Natwest ISA a fixed rate ISA? As this would surely prevent as transfer as well. Again, speak to NatWest. You said looking at your accounts, so I'm assuming you have access to internet/app banking. You can use their chat service to ask these questions and if the bot won't give you an answer force a request to speak to an advisor/customer service agent (whatever title Natwest use).