Transfer Cash ISAs Discussion Area

wige

Hi, just checking that my interpretation of the deals and the restrictions they have is correct.

I have £3220 in this year's ISA with A&L.

Is it best for me to open an A&L Flexible Saver after April 5th with a new savings injection of £5100 so I can start earning 3.5% interest on that...

...and since you can't transfer into the one above...

Transfer my £3220 from 09/10 year into the Birmingham Midshires ISA Extra to earn 2.7% from that (assuming this is the best deal for transferred money sub-£9,000 for non current account holders of this institution).

From what I understand this is the best use of my money following the ISA route. Have I undestood correctly?

ardamo

Hi I opened my first ISA at RBS (instant access isa) this 09/10 year with the full £3600 i did have to take some money out so its now £3300. I am pretty sure it pays something terrible like 0.1%. Should I transfer it to a better account now and then after 5/4/10 put more in or wait to find a better one later and then transfer the money across? Sorry i dont really know a lot about these?

Dustykitten

I'd say transfer now, you could wait and wait for a better rate. You might want to transfer to an easy access one so that if a decent rate comes along you can transfer again. If you go for fixed rate then check the t&c if you might want to withdraw anymore funds as this is not always an option hth.

ardamo

Thank you, will look at instant access ones again, what else should I be looking for? (sorry told you I was very clueless when it comes to this!

robbieroy

I have build up around £30k in cash ISAs with Barclays in different ISA accounts, two of which earn 0.1% AER and one of which earns 2.5% AER.

My intention is to transfer alll these to the Nationwide 3-year Fixed Term Cash ISA at 4.4% AER
For 2010/11 I will take out one of the better Cash ISA interest rate deals and invest my full £5100 allocation into that, transferring it once the bonus %age is withdrawn after the first year.
Is this the correct thing to do or am I missing something?
Thanks in anticipation
RR

Lokolo

robbieroy wrote: »

I have build up around £30k in cash ISAs with Barclays in different ISA accounts, two of which earn 0.1% AER and one of which earns 2.5% AER.

My intention is to transfer alll these to the Nationwide 3-year Fixed Term Cash ISA at 4.4% AER
For 2010/11 I will take out one of the better Cash ISA interest rate deals and invest my full £5100 allocation into that, transferring it once the bonus %age is withdrawn after the first year.
Is this the correct thing to do or am I missing something?
Thanks in anticipation
RR

That is best thing to do yes.

robbieroy

Phew! - thanks for the conformation Lokolo
RR

10_66

robbieroy wrote: »

My intention is to transfer alll these to the Nationwide 3-year Fixed Term Cash ISA at 4.4% AER

This was withdrawn yesterday.

robbieroy

10_66 wrote: »

This was withdrawn yesterday.

I sent the tranfer application off last Monday, 22nd March. As it was signed and dated 20th March, I am hoping, given your information, that they received it before yesterday and will honour the application date.
RR

10_66

robbieroy wrote: »

I sent the tranfer application off last Monday, 22nd March. As it was signed and dated 20th March, I am hoping, given your information, that they received it before yesterday and will honour the application date.
RR

Might be worth ringing them to make sure, 0800 30 20 10.