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Transfer Cash ISAs Discussion Area

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Comments

  • wige
    wige Posts: 2 Newbie
    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?
  • 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
    Dustykitten Posts: 16,507 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    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.
    The birds of sadness may fly overhead but don't let them nest in your hair
  • 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
    robbieroy Posts: 102 Forumite
    Part of the Furniture Combo Breaker
    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Cash ISA interest rate deals and invest my full £5100 allocation into that, transferring it once the bonus %age is withdrawn after the first year.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
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    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
    robbieroy Posts: 102 Forumite
    Part of the Furniture Combo Breaker
    Phew! - thanks for the conformation Lokolo
    RR
  • 10_66
    10_66 Posts: 3,462 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    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
    robbieroy Posts: 102 Forumite
    Part of the Furniture Combo Breaker
    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
    10_66 Posts: 3,462 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    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.
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