Transfer Cash ISAs Discussion Area

feydakin77

Hi,

is it possible to transfer an old ISA to a new one that offers a better interest ( and allows transfers) within the same provider? What is the usual way to do so, just open the new one and request a transfer ( in the same way that it is done with current/savings accounts? Providers only seem to have forms to tranfer from a different provider. I am looking to tranfer my old Halifax ISAs to the new product.

Any help would be much appreciated

10_66

feydakin77 wrote: »

Hi,

is it possible to transfer an old ISA to a new one that offers a better interest ( and allows transfers) within the same provider? What is the usual way to do so, just open the new one and request a transfer ( in the same way that it is done with current/savings accounts? Providers only seem to have forms to tranfer from a different provider. I am looking to tranfer my old Halifax ISAs to the new product...

If it's the Direct Reward ISA you're referring to, take a look at THIS thread. If you want to redesignate from the Direct Reward ISA 3 to 4, the thread tells you to call 08457 26 36 46.

rb10

10_66 wrote: »

If it's the Direct Reward ISA you're referring to, take a look at THIS thread. If you want to redesignate from the Direct Reward ISA 3 to 4, the thread tells you to call 08457 26 36 46.

Or, in fact, from any Halifax ISA to the ISA Direct Reward 4, it's the same number.

Takes about 5 minutes.

Doshwaster

feydakin77 wrote: »

Hi,

is it possible to transfer an old ISA to a new one that offers a better interest ( and allows transfers) within the same provider? What is the usual way to do so, just open the new one and request a transfer ( in the same way that it is done with current/savings accounts? Providers only seem to have forms to tranfer from a different provider. I am looking to tranfer my old Halifax ISAs to the new product.

Any help would be much appreciated

It depends on who the provider is. Some allow it, others don't.

Fortunately, Halifax do allow internal transfers. There's a form here: http://www.halifax.co.uk/savings/forms/HX_ISATF.pdf

rb10

Doshwaster wrote: »

It depends on who the provider is. Some allow it, others don't.

Fortunately, Halifax do allow internal transfers. There's a form here: http://www.halifax.co.uk/savings/forms/HX_ISATF.pdf

That form is for external transfers - to transfer internally you do not need a form at all; just phone up and they'll do it straight away.

rhyski

does anyone have ANY idea how the rates might vary later on in the year?
- As my current Santander ISA rate drops in October (after the 12 months bonus expires)
Not sure if I should hold out til then or switch now? Or could I switch again later on in the year?

leaphaze

rhyspaulburton wrote: »

does anyone have ANY idea how the rates might vary later on in the year?

In a word, No.

koala2106

Hi,

Probably not the right place for this but I hope someone can put me straight on this.

I have an ISA with A&L which they have just paid the interest on so I am guessing my rate has finished so obviously am looking for a new deal.

The new Santander rate looks good (as will increase with the base rate which I fully expect to go up soon) but does not allow transfers. Therefore, could I transfer my existing ISA now to Halifax and start a new ISA with Santander in the new tax year (6th April 2011) to get the best of both??

My understanding is that I can only have 1 ISA per year so technically does that mean I could have 5 different ISA's after 5 years??

Also what happens in 12 months time? would I be able to transfer both ISA's into a new ISA or would they have to stay seperate??

Any help or advice would be much appreciated.

Thank you in advance,

Adrian

Middle_Sister

As you say the Santander ISA is for new money only so you could start a new ISA with them and transfer your other ISA/ISAs into the Halifax. You could open a new ISA every year with a different provider but really all you need to do is what you have already suggested. After the year with Santander you could lump that in with your other ISA/ISAs and transfer them all again and look for a new money ISA again OR if you get a good rate for transfers AND new money you could put them on in that. Complicated I know.

koala2106

Definately complicated but probably worth it. Thanks for the info