Transfer Cash ISAs Discussion Area

Zebra

I'm sure that this question has been asked and answered a hundred times before, but here goes!

I've already opened an ISA this year - the First Direct regular saver - but can I open another one (ie Manchester BS 3.26%) for the sole purpose of transfering a previous years allowance, provided I don't deposit any further funds?

Lokolo

Zebra wrote: »

I'm sure that this question has been asked and answered a hundred times before, but here goes!

I've already opened an ISA this year - the First Direct regular saver - but can I open another one (ie Manchester BS 3.26%) for the sole purpose of transfering a previous years allowance, provided I don't deposit any further funds?

Yes open it with £0 and fill in an ISA transfer form

Zebra

Thank you - 101 and counting!

antispam246

Would like some confirmation on this. I'm helping my other half transfer her ISA. She has a cash ISA with Nationwide and we're going to move it to Newcastle BS Reward ISA. I've done this myself before but I forget the details, so just need confirmation.

I can open the Newcastle Reward ISA online, so I open it online.

I then fill in a ISA transfer form and send it to nationwide? It's that way round right, I don't send this to the new ISA provider?

Then I wait for it to transfer? Have I missed anything? Many thanks

rb10

antispam246 wrote: »

Would like some confirmation on this. I'm helping my other half transfer her ISA. She has a cash ISA with Nationwide and we're going to move it to Newcastle BS Reward ISA. I've done this myself before but I forget the details, so just need confirmation.

I can open the Newcastle Reward ISA online, so I open it online.

I then fill in a ISA transfer form and send it to nationwide? It's that way round right, I don't send this to the new ISA provider?

Then I wait for it to transfer? Have I missed anything? Many thanks

Newcastle BS explain how to do this on their website, click on the 'Transfer your ISA' tab at the bottom.

You fill in their ISA transfer form, and send it to Newcastle BS. They will then write to Nationwide requesting the money to be transferred.

antispam246

rb10 wrote: »

Newcastle BS explain how to do this on their website, click on the 'Transfer your ISA' tab at the bottom.

You fill in their ISA transfer form, and send it to Newcastle BS. They will then write to Nationwide requesting the money to be transferred.

I still need to actually open the ISA with Newcastle BS as well right? I'm going through the online process and I'm at the end but it says

"Approximately how much money will you be transferring?
(Min £500 Max £3,600)"

Thing is, I'll be transferring over 7k from my current ISA and I don't won't to make a further deposit yet, so.. I'm kinda stuck.

rb10

Yeah, need to open the ISA with Newcastle before transferring. I'd probably just put in £3600 to that box, then send in the transfer form instead of the money. It does only say 'approximately', so it's not a commitment to pay in that amount.

antispam246

rb10 wrote: »

Yeah, need to open the ISA with Newcastle before transferring. I'd probably just put in £3600 to that box, then send in the transfer form instead of the money. It does only say 'approximately', so it's not a commitment to pay in that amount.

Yeh that's exactly what I did. It's not a commitment so it shouldn't matter right now. anyway, thank you both, app is complete and got form filled in for transfer ready to send.

antispam246

Need a hand with a couple of queries. i'm transferring from Nationwide to Newcastle BS ISA. When i log into my nationwide account the account number is blanked out. According to my documentation I have both a bank account number and an account number/reference, the former being 8 digits and the latter being 4 and 9 digits like ****/*********

I've e-mailed nationwide and wait on a response but which is the "account number" I have to fill in on the transfer form.

Also on the Newcastle BS transfer form is has

"to newcastle Building Society's ********************************* Account"

Do I fill in the Newcastle ISA account number in that space?

Just trying to verify before I mess it up, thanks.

WhiteSpace

antispam246 wrote: »

...but which is the "account number" I have to fill in on the transfer form.

I would be 99.9% sure it was the 8 digit account number. Any longer and it probably wouldn't fit on most transfer request forms! UK account numbers are usually 8 digits, although sometimes the banks prefix/postfix them (with a sort-code may be) which might make them appear longer.

antispam246 wrote: »

"to newcastle Building Society's ********************************* Account"

Do I fill in the Newcastle ISA account number in that space?

It would seem so, although to be honest I don't recall ever having to fill in the recipient account number when completing a transfer request, but I've never transferred to Newcastle before.