Cash ISA help - transferring money from Halifax ISA to BOS ISA

Sniperwombat

In April 2025 my husband opened a new fixed cash ISA with Bank of Scotland as it had a good rate (I think it was either 4.5% or 5./5%) and the plan was to put £18k in there.

The reason we wanted another cash ISA was a) as the money needed to be kept separate b) to benefit from the good interest rate.

By mistake though he didn't put money in there, and instead put it into an existing Halifax low interest cash ISA which had ca £10,318 in it. We have only found this out today, Sat 04th April 2026. Really frustrating as we have lost out on a lot of interest…..Total balance in that Halifax one is £29,151

The Bank of Scotland fixed cash ISA with £0 balance has now changed to a 0.75% "ISA saver"

The Halifax one is a 0.9% "Instant ISA saver"

So now I want to

a) separate the £18K from the rest of the balance - have it fixed for 1 year at reasonable rate

b) keep the remaining in existing Halifax ISA (but may well then move it to better rate at some point)

How do I move £18k from the Halifax ISA to the BOS ISA and ensure that the transfer is done correctly? Can I still do that within tax year 25/26?

Placitasgirl

I don’t think it’ll be possible for you to move the funds in the Halifax ISA across to a BOS ISA in this tax year as it ends tomorrow, and the timescale is compounded by it being the weekend. In order to keep the tax free status of the funds they must be moved as an ISA transfer which you’ll need to request from the new ISA provider and which doesn’t happen immediately.

Whatever you do don’t be tempted to transfer the funds manually; you will lose the tax free benefit and the transaction date would likely already show as Tuesday 7 April anyway.

As tomorrow is the last day of this tax year, I can’t see any way this could be done in time. Monday is also a Bank Holiday, so I think you’re already out of time.

35har1old

https://forums.moneysavingexpert.com/discussion/6662699/cash-isa-help-transferring-money-from-halifax-isa-to-bos-isa

You don't need it to be in 25/26

MUST BE A CURRENT ACCOUNT HOLDER for the ISA below

HSBC currently offering 1 yr fix 4.5% top it up to £20000 receive £150 bonus.one drawback is application via app Online application can take up to 5 working days to process

When opening on app have the details of the ISA that you want to transfer ready to be added ask for a partial transfer

35har1old

Why would you want to move it a lower rate and it is possible that it would not except any transfer

There is a good possibility that it changed to the lower rate when no money was added in the 30 day funding window most other providers would simply have closed and inform you of the closure thus drawing you attention to the error made by husband reducing the period of loss interest

flaneurs_lobster

Why do you want to move funds to an ISA paying 0.75%?

If these funds are currently in an ISA then there is no urgency about transferring in the current financial year (ie before tomorrow).

Sniperwombat

My intention was to move the funds to the BOS ISA saver at 0.75% and then straight away "renew the acount" to convert it to a BOS cash ISA at 3.8%

35har1old

https://forums.moneysavingexpert.com/discussion/comment/81949950#Comment_81949950

Only see the rate of 3.7% for a 1yr BOS

Could get a instant excess paying more than that

If you want to stick to a big name Nationwide 4.35 1yr fix

Difference on £18000 £117