Transfer Cash ISAs Discussion Area

Baldur

determined_new_ms wrote: »

cool thanks I have done that! So what I have done this financial year is:
1. upgraded current Halifax isa to the above Isa (but not to pay cash into)
2. opened a regular saver with first direct for with an interest rate of 8%
3. opened a santander Isa to pay in available cash above the reg saver

are these the best things to have done?

The 'best' is what suits you and your particular circumstances.

Sounds OK to me, the proceeds of your maturing FD regular saver will then be available to be subscribed to your 2012/13 ISA allowance next April/May, if you so wish.

determined_new_ms

thanks Baldur! Its a bit confusing really!

belttightener

Ist time adult saver son opened a Nationwide e-isa giving 2.75 % just a week before it upped the rate to 3.1% on the run up to the end of the tax year.

Naturally he wanted the better rate but calls to customer service brought no joy, according to the operative, nothing we could do .... an hour long visit in branch, forms completed still didn't get the 2010/11 isa upgraded to 3.1%. Unwilling to give in and live with it, we used MSE's how to complain guide. By persevering, knowing what we wanted should be achievable, we got the old rate isa a/c closed and the balance transferred to the newer rate 2010/11 and a happy holiday saver.

Moral of the tale don't give up!

black_taxi_2

whats best cash isa or stocks & shares isa?

VoucherMan

black_taxi wrote: »

whats best cash isa or stocks & shares isa?

Do you like gambling?

From my own limited experience a cash ISA gives a small, but guaranteed return (either fixed or variable).

The value of a S&S ISA depends on the performance of the shares it's invested in.
Prior to 2008 I had a 'low risk' S&S ISA from the Halifax giving a return of up to 20% some years. When the stockmarket took a dive so did my ISA.


Personally I'll stick to cash ISAs. It'll be a long time before I have enough spare cash to use up my yearly allowance. And, for now, I'm not willing to take the risk.

leaphaze

black_taxi wrote: »

whats best cash isa or stocks & shares isa?

Depends on your aims, attude to risk and period of investment. Also you have to consider whether to invest in bonds, stocks or funds in your SS ISA.

deed02392

The Aldemere fixed rate ISA has dropped 0.16%! I was going to set it up yesterday but thought I'd leave it till today to avoid the fuss of finding my passport! Very annoying.

lolat332

can someone give me some advice on this one. i have used up my 2011-12 allowance with Barclays . I also have several ISAs i want to transfer from previous years, Barclays dont allow transfers in.

are there any providers that will just allow transfers in, without any fresh cash.

Baldur

lolat332 wrote: »

can someone give me some advice on this one. i have used up my 2011-12 allowance with Barclays . I also have several ISAs i want to transfer from previous years, Barclays dont allow transfers in.

are there any providers that will just allow transfers in, without any fresh cash.

Yes, read through this post which lists current Cash ISA 'best buys' and includes those that accept ISA transfers. Just select one that suits you and complete the ISA transfer form for that account.

I have recently transferred two previous years' Cash ISAs to the Halifax ISA Direct Reward, which nominally requires a £1 deposit to open but, as your transferred funds will (presumably) exceed £1, no new money has to be subscribed.

No ISA to which I have transferred ISA funds since the scheme started has required that new funds must be deposited in addition to the transferred funds.

melviamoney

My elderly mother has some Nationwide cash ISA's which have a really low rate (.25%) and I would like to help her transfer them, but she really doesn't want the hassle of transferring every year. She doesn't want to tie her money long-term in case she needs it. Any suggestions for a sensible interest rate which doesn't involve switching at the end of each year please? She doesn't use the internet so branch/phone-based would be best. Thanks