Transfer Cash ISAs Discussion Area

purplestar133

shanson wrote: »

I want to transfer my Barclays ISA Issue 2 (last years) to a new Halifax Direct Reward 3% ISA.

I also want to open a new ISA with Barclays Issue 3.

So my question is.. to open a new Halifax ISA I must deposit a min of £1. Does that minimum amount count as paying into a new ISA this tax year? I only want to transfer my existing funds.

The minimum opening balance is accounted for by the amount you're transferring, so you don't need to pay any new money into it.

robin58

Just a question. All that I have read is how to consolidate your Isa Cash transfers into 1. Is it possible to the opposite and brake down a large isa into smaller accounts?

Lokolo_2

robin58 wrote: »

Just a question. All that I have read is how to consolidate your Isa Cash transfers into 1. Is it possible to the opposite and brake down a large isa into smaller accounts?

Yes, so long as you are transfering previous year's ISA's you can transfer them in part to multiple ISA providers. The only restriction is with the current tax year's ISA allowance which may only be transfered in full.

WhiteSpace

robin58 wrote: »

Just a question. .... Is it possible to .... brake down a large isa into smaller accounts?

Just curious as to why you might want to do this?

Baldur

WhiteSpace wrote: »

Just curious as to why you might want to do this?

One reason that springs to mind would be if, as many of us who have held Cash ISAs since their introduction (as well as the former TESSA) your ISA 'pot' is well in excess of £60,000, you may want to allocate some of that 'pot' to fixed rate ISA accounts and other portion(s) to easy access ISA accounts.

DopeyDylan

Hi All,

Quick question for you...
I'm moving my ISA money from Birmingham Midshires to Halifax Direct ISA. I've printed off the ISA transfer form from the Halifax site, and it requires an account number and a sort code for my previous ISA, however, looking at the documentation I have from Birmingham Midshires, I only have an account number.

Is this one of those Bank vs Building Society things? Any idea's what I do to enable Halifax to transfer my ISA?

Thanks in advance MSE friends!
Dylan

stevieS_2

Does anyone know if you transfer your cash isa to another supplier if it should be without penalty. Nationwide want to charge 60 days loss of interest if I transfer the cash. Although they say I can withdraw without penalty if I take the cash. Is this in the rules.

Thanks

StevieS

VNX

Hi,

I am transfering my BM isa to HBOS too. My paperwork when I opened my ISA with BM has the sort code as

20-97-78

Hope this helps.?

DopeyDylan wrote: »

Hi All,

Quick question for you...
I'm moving my ISA money from Birmingham Midshires to Halifax Direct ISA. I've printed off the ISA transfer form from the Halifax site, and it requires an account number and a sort code for my previous ISA, however, looking at the documentation I have from Birmingham Midshires, I only have an account number.

Is this one of those Bank vs Building Society things? Any idea's what I do to enable Halifax to transfer my ISA?

Thanks in advance MSE friends!
Dylan

Baldur

DopeyDylan wrote: »

Hi All,

Quick question for you...
I'm moving my ISA money from Birmingham Midshires to Halifax Direct ISA. I've printed off the ISA transfer form from the Halifax site, and it requires an account number and a sort code for my previous ISA, however, looking at the documentation I have from Birmingham Midshires, I only have an account number.

Is this one of those Bank vs Building Society things? Any idea's what I do to enable Halifax to transfer my ISA?

In the process of transferring a Britannia FRISA to Halifax Direct ISA Reward - that only had an account number (no Sort Code).

I just gave the a/c number on the transfer form handed to Halifax and have heard from Britannia to the effect that the transfer will take place on the date which I specified, obviously as a result of contact from Halifax, so there should be no problem - especially as BM are part of the HBoS group.

DopeyDylan

Baldur wrote: »

In the process of transferring a Britannia FRISA to Halifax Direct ISA Reward - that only had an account number (no Sort Code).

I just gave the a/c number on the transfer form handed to Halifax and have heard from Britannia to the effect that the transfer will take place on the date which I specified, obviously as a result of contact from Halifax, so there should be no problem - especially as BM are part of the HBoS group.

Thanks Baldur... will take your advice!