Transfer Cash ISAs Discussion Area

scrooge11

Hi - I'm a newbie!
I'm having great difficulty transferring an old Isa from Ing to a Halifax Isa a/c. Halifax told me to set up a money transfer but Ing will only allow you to transfer to a current account - presumably, if I transfer to a current account then I will lose the tax free status? How on earth do you do it?

10_66

scrooge11 wrote: »

Hi - I'm a newbie!
I'm having great difficulty transferring an old Isa from Ing to a Halifax Isa a/c. Halifax told me to set up a money transfer but Ing will only allow you to transfer to a current account - presumably, if I transfer to a current account then I will lose the tax free status? How on earth do you do it?

If you're transferring ISA's you usually have to complete a transfer in form issued by the ISA provider that you're moving to (in your case Halifax). You send this to the new provider (Halifax), who will send it to ING, requesting that your ISA is transferred from ING to Halifax. DO NOT try moving the money yourself by transferring into a bank account and then into a new ISA.

10_66

unhealthyman wrote: »

This is kind of a stupid/obvious question, but my bonus period on my A&L ISA has run out, but the interest won't be paid till the end of the year. How do I get the Interest if I transfer it? Do they just add it on if I ask to transfer the full amount or will it get paid to this ISA account at the end of the year?

Not sure what your terms and conditions are for this ISA, but usually if you want to transfer out (and therefore closing the account) any interest that is due on the account will be added to the account on its transfer (closure). Just check your t&c's (ie like with the example in post #2123 relating to a Halifax ISA, where you're best leaving £1 in the account to satisfy any bonus payments etc).

Vortigern

scrooge11 wrote: »

Hi - I'm a newbie!
I'm having great difficulty transferring an old Isa from Ing to a Halifax Isa a/c. Halifax told me to set up a money transfer but Ing will only allow you to transfer to a current account - presumably, if I transfer to a current account then I will lose the tax free status? How on earth do you do it?

Sounds like the person you spoke to at Halifax was a newbie too!

10_66 wrote: »

If you're transferring ISA's you usually have to complete a transfer in form issued by the ISA provider that you're moving to (in your case Halifax). You send this to the new provider (Halifax), who will send it to ING, requesting that your ISA is transferred from ING to Halifax. DO NOT try moving the money yourself by transferring into a bank account and then into a new ISA.

Good answer from 10_66. Download the Halifax transfer form from the link below and post it to the address on the form.
Do not take it to your branch.

http://www.halifax.co.uk/savings/forms/HX_ISATF.pdf

HTH

calypso_rhapsody

Hi - i don't really follow cash ISAs as i use the full ISA allowance into S&S ISAs but i have one cash ISA that derives from an old TESSA account (remember them?)

That ISA was a fixed term product and matures in a month or so. The terms being offered by the current provider are not market leading so i will be transferring and would probably choose a two year fix i think.

The best such account at present appears to be Chelsea at 3.7%. But i am wondering if there is a trend that rates tend to increase around the tax year end? If so, it might be that i should transfer initially to an instant access account and then to a fix in March?

Or i might decide it's too much hassle!

leaphaze

calypso_rhapsody wrote: »

Hi - i don't really follow cash ISAs as i use the full ISA allowance into S&S ISAs but i have one cash ISA that derives from an old TESSA account (remember them?)

That ISA was a fixed term product and matures in a month or so. The terms being offered by the current provider are not market leading so i will be transferring and would probably choose a two year fix i think.

The best such account at present appears to be Chelsea at 3.7%. But i am wondering if there is a trend that rates tend to increase around the tax year end? If so, it might be that i should transfer initially to an instant access account and then to a fix in March?

Or i might decide it's too much hassle!

Rates do tend to go up towards the end of the tax year, but they tend to be for new cash only, not transfers.

StevieJ

I have just had confirmation that my ISA transfer has completed, originally actioned the end of March, Santander to The Halifax. Should it really take four months? TGF the Halifax transfer guarantee.

nutty_girl_2001

This is going to sound like such a basic, daft question:

I have a 2010/11 ISA, and a 2011/12 on the go with company A. When I 'transfer' these ISAs to company B, do they lump them all in one pot and call it 'Company B 2011/12 ISA', or do they both get separately transferred and called' Company B 2010/11 ISA' and 'Company B 2011/12' ISA?

Lokolo

nutty_girl_2001 wrote: »

This is going to sound like such a basic, daft question:

I have a 2010/11 ISA, and a 2011/12 on the go with company A. When I 'transfer' these ISAs to company B, do they lump them all in one pot and call it 'Company B 2011/12 ISA', or do they both get separately transferred and called' Company B 2010/11 ISA' and 'Company B 2011/12' ISA?

They can do either, depending on how you do the process. Although the likelyhood is that you will open 1 account, fill in 2 transfer forms, in which case, they will lump it together in one account.

joanne198031

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