Transfer Cash ISAs Discussion Area

stillburning

Thanks Baldur, had another look round and First Direct account do seem to have the best instant access rate.

I'm now completing the ISA transfer forms, I've telephoned Nat West twice to check if there are any penaltys if I transfer my ISA with the 2% bonus before the end of the 12 month bonus period (the ISAS were opened on 24/10/08 and 27/10/08). The first lady told me I would lose my 2% bonus on the entire 12 month period, the second did not really know but suggested anyway I didnt send in my transfer forms until after the 12 month period just in case.

I'm filling in the forms ticking the boxes to serve the full notice period (if there is one) but if anyone does know whether or not there may be a penalty on the Nat West cash ISA with 2% bonus could they please let me know.
thanks

Simon

G_M

I have a cash isa with £42,900 and my wife another with £38,200, in Nat West where our 2% bonus from last year is about to expire and we will go down to 1.75%.

My Natwest 2% bonus is also ending soon. I'm transferring it to Chelsea BS (3.25%). Instant access, but it's an over-50s account.

stillburning

Went into my local branch today and they confirmed our accounts are instant access.

lolly1963

Hii,
My hubby has a fixed rate isa maturing on 8th November with M&S.
Can he open a First Direct e cash isa today with a pound, and transfer into it later with the M&S isa. He hasnt used any of this years isa so also want to pay £5100 into the new First Direct later on this year (over 50)

Does this make sense, only he doesnt want to open First Direct and then be told he cannot transfer into it after?

So the plan is, open FD today with a pound and in a couple of weeks transfer his M&S isa into the new FD.....
Thanks
Lorraine

Baldur

lolly1963 wrote: »

My hubby has a fixed rate isa maturing on 8th November with M&S.
Can he open a First Direct e cash isa today with a pound, and transfer into it later with the M&S isa. He hasnt used any of this years isa so also want to pay £5100 into the new First Direct later on this year (over 50)

Does this make sense, only he doesnt want to open First Direct and then be told he cannot transfer into it after?

So the plan is, open FD today with a pound and in a couple of weeks transfer his M&S isa into the new FD.....

Yes.

When the application pack arrives by post, tick the box that says that you want them to send you an ISA transfer form. Complete the transfer form fully straight away and put the date the transfer is required as 8th November or 'on maturity' and FD will arrange the transfer on that date with M&S.

lolly1963

Hi Baldur,
Thanks very much, put my mind at rest, will press on with the application.
Cheers
Lorrains

teknomage

Hi,

I have a question about transfers and whether or not I can open a new cash ISA this year.

Earlier this year I transferred my existing cash ISA from NS & I to the Northern Rock 1 year fixed rate cash ISA but I did not use my entitlment for this year. I am now interested in the Chelsea Building Society 1 year fixed rate cash ISA. I understand that I am locked into the Northern Rock cash ISA but I was wondering if I could use my tax-free entitlement to invest in the Chelsea cash ISA? Or can I only invest into the Northern Rock cash ISA (which I believe has now closed)?

Thanks

Baldur

teknomage wrote: »

Earlier this year I transferred my existing cash ISA from NS & I to the Northern Rock 1 year fixed rate cash ISA but I did not use my entitlment for this year. I am now interested in the Chelsea Building Society 1 year fixed rate cash ISA. I understand that I am locked into the Northern Rock cash ISA but I was wondering if I could use my tax-free entitlement to invest in the Chelsea cash ISA? Or can I only invest into the Northern Rock cash ISA (which I believe has now closed)?

If you have not subscribed any new money to a Cash ISA since 6th April 2009, you can open and fund a new 2009/10 Cash ISA with any provider that you like.

Hemel_Saint

Hello all

A quick question on Transfers.
I am looking at setting up a new ISA for this current year with Northern Rock (1 year fixed rate).
I see they allow Transfers-in, but was looking at their T&Cs and it says you can transfer-out to another Northern Rock account.

I quote....
<<<3.6.5 Transfer to another Northern Rock account
You can authorise us to transfer funds to another account with
us.>>>
http://www.northernrock.co.uk/downloads/savings_products_tandc.pdf

Does that mean they will NOT allow me to transfer to different companies at a later stage and I will have to close the account?

Thanks for any help/clarity...

Baldur

Hemel_Saint wrote: »

I am looking at setting up a new ISA for this current year with Northern Rock (1 year fixed rate).
I see they allow Transfers-in, but was looking at their T&Cs and it says you can transfer-out to another Northern Rock account.

I quote....
<<<3.6.5 Transfer to another Northern Rock account
You can authorise us to transfer funds to another account with
us.>>>
http://www.northernrock.co.uk/downloads/savings_products_tandc.pdf

Does that mean they will NOT allow me to transfer to different companies at a later stage and I will have to close the account?

No - that section is not referring to ISA transfers but to transferring funds from the ISA to a non-ISA account held with NR.

For example, you could be a pensioner who requires the interest to be paid into a non-ISA account in order to supplement your income (see section 9.7 et seq).