Transfer Cash ISAs Discussion Area

MarkyMarkD

How on earth do Halifax know that you have already opened another ISA this tax year? Surely they don't unless you've told them? And they are wrong, so unless they are actually preventing you from (quite legitimately) opening an ISA then simply do so.

Halifax COULD insist that you cannot open a new ISA without subscribing this year, and that would mean you wouldn't be eligible. But I don't think that's what happening here.

vicky79

MarkyMarkD wrote: »

How on earth do Halifax know that you have already opened another ISA this tax year? Surely they don't unless you've told them?.

I did - maybe that was my mistake!!
On their application form there is a yes / no tick box for have you already opened a cash isa this year, however I did also tell them that I was only going to transfer old isa money into their ISA.

JS477

We've just completed an ISA transfer from the A&L (now Santander) to the Nationwide and was amazed at how primitive the whole procedure is in these days of electronic transfers etc. It would seem that the A&L placed our money into one of their holding accounts for a several days and then issued a cheque of all things to the Nationwide.

Presumably the banks are as usual making money out their customers by keeping our money for as long as possible in their holding accounts but how and why are they getting away with issuing cheques that have to be sent by snail mail. Surely in these days of electronic money transfers the issuing of cheques is wholly inappropriate.

kiera123_2

Hi, I was hoping someone could answer this question for me please

Would I need to complete an ISA transfer form to transfer one LloydsTSB ISA (last years) to another LloydsTSB ISA (this years) or is there a quicker way of doing this since it's not technically a different provider? I've asked in my local branch, but they didn't seem to know.

10_66

kiera123 wrote: »

...Would I need to complete an ISA transfer form to transfer one LloydsTSB ISA (last years) to another LloydsTSB ISA (this years) or is there a quicker way of doing this since it's not technically a different provider? I've asked in my local branch, but they didn't seem to know.

If it's a different product you'll have to fill in a new application, and therefore, a transfer form as well.

kiera123_2

10_66 wrote: »

If it's a different product you'll have to fill in a new application, and therefore, a transfer form as well.

Thank you very much

thesaint76

Hi,

Apologies if this has been asked a billion times before, but I've had a quick skim through some of the pages and can't find an answer to my question.

I have a Nationwide Cash ISA that I want to transfer to another provider to get a better deal. I've paid money in this year (nowhere near the allowance though).

So can I open another account with another provider, pay in more money this tax year and transfer my Nationwide balance in?

When I spoke to someone in Santander they said I could. I was going to open an account with them but then saw the Halifax deal. I tried to apply on line but it said as I've already paid into an ISA this year I can't open another account. So who's right?

Cheers in advance.

boobbby

thesaint76 wrote: »

Hi,

Apologies if this has been asked a billion times before, but I've had a quick skim through some of the pages and can't find an answer to my question.

I have a Nationwide Cash ISA that I want to transfer to another provider to get a better deal. I've paid money in this year (nowhere near the allowance though).

So can I open another account with another provider, pay in more money this tax year and transfer my Nationwide balance in?

When I spoke to someone in Santander they said I could. I was going to open an account with them but then saw the Halifax deal. I tried to apply on line but it said as I've already paid into an ISA this year I can't open another account. So who's right?

Cheers in advance.

Your method is wrong.. you can open another ISA and transfer the money from your previous ISA, if the new provider allows transfers, and then pay in the money up to this years allowance of £5100. You can also transfer any money from older ISA's if the new provider allows transfers.

rb10

thesaint76 wrote: »

Hi,

Apologies if this has been asked a billion times before, but I've had a quick skim through some of the pages and can't find an answer to my question.

I have a Nationwide Cash ISA that I want to transfer to another provider to get a better deal. I've paid money in this year (nowhere near the allowance though).

So can I open another account with another provider, pay in more money this tax year and transfer my Nationwide balance in?

When I spoke to someone in Santander they said I could. I was going to open an account with them but then saw the Halifax deal. I tried to apply on line but it said as I've already paid into an ISA this year I can't open another account. So who's right?

Cheers in advance.

You can either:

(1) Fill up the Nationwide ISA to the limit, and then transfer it elsewhere; or

(2) Transfer it elsewhere, and then use the remainder of your allowance for this year.

The Halifax online application for this ISA is strange - although what I have suggested above is permitted, to get through the Halifax application you have to say 'No' to 'have you subscribed to an ISA this year'. Or open it in branch or over the phone.

Jimbob98

HI
I think i know the answer already but just wanted to double check pls...
If im looking to open an isa with intention to transfer in from an old isa (current yr ive already started to add money in), i know to put in 0 'new money' and fill transfer form. However new isa provider say min amount is $1, can this pound can be made up from my transfer as i wont be adding any money in?
thanks