Transfer Cash ISAs Discussion Area

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blushingbride wrote: »

is it right that barclays have changed there golden isa rates?:9

I currently have:

2009 cash isa with barclays
2008 cash isa with barclays

Both full

am i best to combine them to a top rate isa? maybe M&S?:T

blushingbride wrote: »

Can i transfer this years and last years into a new one?

what would be best?

If you opened this tax year's Barclays Golden ISA before the 31 May 2009, would you not be better leaving that one as it's still earning 3.55% gross (3.61% AER), and just transferring last year's ISA elsewhere?

purplestar133

Does anyone know the best address to put down for Lloyds TSB on a transfer form? I'm never sure and, to save delays, surely the address needs to be for their ISA department, but I can't find the address. Can anyone help?

It's actually for my brother who I'm helping (from a long distance) to sort his ISAs out - so I don't have any paperwork to look at.

Thanks in advance!

Joe65_2

purplestar133 wrote: »

Does anyone know the best address to put down for Lloyds TSB on a transfer form? I'm never sure and, to save delays, surely the address needs to be for their ISA department, but I can't find the address. Can anyone help?

in case you haven't got it already:-

From the Fixed rate Cash ISA Ts & Cs, it says :-

4 WITHDRAWALS AND TRANSFERS
...............
2.
...............
If you wish to make a transfer to another ISA account with us you should write to us at Lloyds TSB Bank plc, BX1 1LT.
...........
If you wish to make a transfer to an ISA with another provider you must send a transfer application to that provider.

Their letterheads show that is a Bristol address,
and a Prepaid envelope I have for adding to a FRISA includes:-
'Savings Fulfillment Centre' ,
in that address.

Cheers,
Joe

Joe65_2

maurice1234 wrote: »

For those with a direct ISA with Abbey I would be very careful to check the Issue number. If you have an issue 2 or below they are not paying 3% they are paying .1 %. All you have to do is ring up and ask to transfer to issue 3 and you will get the current 3% but they will not do it automatically , I did ask and they say that they advertise the new rate. Very frsutrating as the promotions do not make it clear that old direct isa's are not paying 3%.

Trying to identify you account from all Abbey's different issue numbers can be a nightmare (not just their ISA's) & when they revise Ts&Cs they try to cover most accounts in the same document , and expect you to work out which ones apply to yours.

You could hardly design it to confuse & mislead more effectively.

Their delightful staff are just as confused and frequently answer queries with the wrong advice about what applies to your account.

While it's nice having them to chat to - Don't expect them to necessarily be any better informed about Your account, than you are yourself....

Casciana

Hello all,
I recently opened an ISA with Natwest with the intention of transferring in previous years ISAs as they were offering top rate, especially over £10,000
Before account could be opened you had to open savings account with them etc. etc. you can imagine the time it took to open this and the ISA and now I've come to transfer funds in I think the rate for the account I opened has dropped to 2.23% or there abouts, I'll check with them when they're open.
As I haven't paid anything in and have a seperate account for current year with Barclays, can I just open another one and just not put anything in Natwest and if so do I have to close it or does it just lie dormant?
Grateful for any advice

Baldur

Casciana wrote: »

As I haven't paid anything in and have a seperate account for current year with Barclays, can I just open another one and just not put anything in Natwest and if so do I have to close it or does it just lie dormant?
Grateful for any advice

If you have paid none of your 2009/10 allowance into the Natwest Cash ISA, you can simply forget it and apply to a different provider (that accepts ISA transfers) to transfer your previous tax years' ISA funds to them.

Casciana

Thanks, I'm paying this years allowance into Barclays Golden Isa.
Maths isn't my strong subject but what sort of percentage difference is generally worth opening new ISA for? For example want to put approx £18,000 of previous years ISAs into Natwest at 2.50% or open M&S at 3.01% - what would be the gain if I were to leave it in until April 2010?

Baldur

Casciana wrote: »

Thanks, I'm paying this years allowance into Barclays Golden Isa.
Maths isn't my strong subject but what sort of percentage difference is generally worth opening new ISA for? For example want to put approx £18,000 of previous years ISAs into Natwest at 2.50% or open M&S at 3.01% - what would be the gain if I were to leave it in until April 2010?

As both of the accounts are variable, rather than fixed-rate ISAs, the rates could well change between now and April 2010 (as you've already seen with the Natwest one).

Assuming that the rates didn't change, there would be a full year difference of £91.80

The gain between now and next April (why next April? You can transfer them out again at any time) depends on intangibles, such as how long the transfer takes to your selected provider, etc.

Casciana

Perhaps fixed rate is the way to go with previous years ISAs for me.
I've been looking on compare sites, does Fixed Rate Bond mean the same thing as a Fixed Rate cash ISA?

purplestar133

Casciana wrote: »

Perhaps fixed rate is the way to go with previous years ISAs for me.
I've been looking on compare sites, does Fixed Rate Bond mean the same thing as a Fixed Rate cash ISA?

No, it's crucial to look for 'ISA' in the title. Fixed Rate ISA bond is different from Fixed Rate Bond.