Transfer Cash ISAs Discussion Area

PhylPho

Some clarification over MSE's advice would be appreciated!

Looks like we're going to apply for the A&L Direct Issue 6 offering transfers in and 2.75% on balances over £9,000 / 2.0% on balances below £9,000.

(Thanks to Kazza242's thread http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

What's *slightly* worrying in that thread is the following wording where A&L is concerned:

Minimum deposit: £9,000+ (to qualify for the higher rate).

Am I correct in thinking that if the initial deposit -- i.e., the opening subscription -- is less than £9,000, that's still no bar to receiving the 2.75% interest rate once the total amount held in that ISA (including funds transferred in) passes beyond £9,000?

Thanks.

Rose_Crow

Nice one Lokolo - I didn't realise I could dump last years money in an account that accept transfers (albeit with a low rate) and then start a new ISA with my new money at a higher rate - thanks

Lokolo

Benny130 wrote: »

One more question

For Isa`s that exept transfers in can you transfer in from multiple existing isa`s??

Thanks in advance

Yes but its a pain in the **** if its a fixed ISA.

Lokolo

PhylPho wrote: »

Some clarification over MSE's advice would be appreciated!

Looks like we're going to apply for the A&L Direct Issue 6 offering transfers in and 2.75% on balances over £9,000 / 2.0% on balances below £9,000.

(Thanks to Kazza242's thread http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

What's *slightly* worrying in that thread is the following wording where A&L is concerned:

Minimum deposit: £9,000+ (to qualify for the higher rate).

Am I correct in thinking that if the initial deposit -- i.e., the opening subscription -- is less than £9,000, that's still no bar to receiving the 2.75% interest rate once the total amount held in that ISA (including funds transferred in) passes beyond £9,000?

Thanks.

That is what I have found from other providers.

Rose_Crow

Lokolo - Can I borrow your brain for a moment - I'm thinking of opening an A&L Flexible ISA and start adding new money to it, and also transfer my old money to another ISA such as the Nationwide ISA - does this sound do-able? I had it drummed into my head that you couldn't open more than one ISA per year so trying to re-wire my brain.

Lokolo

grn.w.nv wrote: »

Lokolo - Can I borrow your brain for a moment - I'm thinking of opening an A&L Flexible ISA and start adding new money to it, and also transfer my old money to another ISA such as the Nationwide ISA - does this sound do-able? I had it drummed into my head that you couldn't open more than one ISA per year so trying to re-wire my brain.

Yeh you can do that.

http://www.nationwide.co.uk/savings/ISA/C115A_ISA_transfer_in.pdf

You will need to fill that form in to transfer.

Rose_Crow

Cracking - thanks!

davidm_uk

Having read some recent posts on here I'm confused, perhaps someone could clarify.

I want to transer an existing ISA with Halifax (which I haven't paid into this tax year, or to any other ISA) to a new Santander ISA at 2.75%. In addition I want to put this years allowance into another new Santander ISA at 3.5%. (btw I'm an exisiting Santander customer).

While completing the online application for the 2.75% ISA, as well as specifying the transfer it asks for an initial deposit (min £1), then later under the T&Cs bit it asks me to tick a box to agree that I won't subscribe to any other cash ISAs this year, seemingly prohibiting me from opening the 3.5% ISA with this years allowance.

How do I get around this?

Edit - update.

Finally got through on the phone (their ISA sales number is freephone - thank heavens) and they did both applications for me via the phone. Took a while, but seems they'd had lots of people trying to apply online with the same problem.

headrush_2

Hi, I currently have a First Direct ISA opened last year and containing older years allowance. The interest is going to drop to 0.2% at the end of the month so obviously I want to transfer.

I understand that I can open a new ISA (First Direct's new one is competitive) and also transfer my existing one to a new provider as long as I do not pay into that one this tax year (First Direct do not allow transfers in from an existing First Direct ISA).

My question is this: can I open a First Direct ISA to pay into this tax year. Open another ISA with another provider and transfer my existing ISA to this. Then transfer my money back to the First Direct ISA that I open this year.

I understand that this would tie up my money for about 60 days but with an interest rate so low its not an issue!

Thanks

bandana999

Please could someone tell me the correct Lloyds TSB ISA manager address to put on the ISA transfer form I'm filling in ATM.
I've looked through all the letters they sent me and have a choice of four.

Thanks.