Transfer Cash ISAs Discussion Area

innovate

sjberry87 wrote: »

Thank you, can I leave some of the money in Yorkshire or must I transfer it all? By transferring it all does that close the account?

Why would you want to keep any money in the account, or indeed keep the account, if - as you say - it pays an awful interest rate?

10_66

innovate wrote: »

You either close the ISA, or you transfer it. Can't have it both ways.

Yeah, but I understood that SallySunshine meant "transfer" immediately (as she said close and "transfer" immediately, as she later stated).

innovate

10_66 wrote: »

Yeah, but I understood that SallySunshine meant "transfer" immediately (as she said close and "transfer" immediately, as she later stated).

My post was in response to a post of sjberry87

10_66

innovate wrote: »

You either close the ISA, or you transfer it. Can't have it both ways.

10_66 wrote: »

Yeah, but I understood that SallySunshine meant "transfer" immediately (as she said close and "transfer" immediately, as she later stated).

innovate wrote: »

My post was in response to a post of sjberry87

In your post # 2666, you quoted my post (#2664), which was in response to SallySunshine's (# 2663). I wasn't referring to anything posted by sjberry87.

SallySunshine

I think this topic makes it hard to reply to posters because there are quite a few different threads without titles, hence me putting in my original title in again.

Possibly resulting in confusing replies.;)

The other way is quoting posts or post numbers, even more confusing.

DragonQ

I'm kinda thinking there's no point in me having my ISA any more. The best rates now are terrible and I can get more by just using Vantage accounts. I don't pay tax anyway and by the time I start paying tax most of my savings will be going towards a house/flat deposit (in maybe 2 years' time).

The only down side would be if a better-than-3% ISA that allows transfers in appears in the next couple of months.

EDIT: Hmm or maybe I can now transfer to my Flexclusive ISA and get 4.25%.

The_Enforcer

sjberry87 wrote: »

I currently have £6k sat in an old isa with Yorkshire building society I have had for years paying an awful rate as you can imagine, I am thinking of opening a new isa (before this tax year ends) with Coventry as their rate is better. If I transfer my current £6k can I then continue adding money to that isa or will the 6k I add take up my yearly allowance?

Warning - if the Coventry ISA you are referring to is their 2.8% notice account, then it's for new money only and doesn't accept transfers.

Kaplinski

Any help would be great!

I opened up a Cash isa for 2011/12 on April 4th, just before the end of that financial year, i put the full £5360. I haven't opened up an isa for this financial year yet 2012/13.

Am i able to transfer my 2011/12 ISA just before the end of this financial year, AND open up a new ISA for 2012/13??

Also as it went up to £5640 for this year, can i put £300 in my old ISA before transferring? Or will that not be possible if i open up a new ISA for 2012/13 and pay some money in to that one?

I went with the Santander, they paid my interest start of March, but i was supposed to get a bonus as well, will they pay that in April once the full year of it being open is up? I havent made an withdrawals.

I hope that all make's sense, just very confused.

Thanx :j

liamcov

Kaplinski wrote: »

Any help would be great!

I opened up a Cash isa for 2011/12 on April 4th, just before the end of that financial year, i put the full £5360. I haven't opened up an isa for this financial year yet 2012/13.

Am i able to transfer my 2011/12 ISA just before the end of this financial year, AND open up a new ISA for 2012/13??

Also as it went up to £5640 for this year, can i put £300 in my old ISA before transferring? Or will that not be possible if i open up a new ISA for 2012/13 and pay some money in to that one?

I went with the Santander, they paid my interest start of March, but i was supposed to get a bonus as well, will they pay that in April once the full year of it being open is up? I havent made an withdrawals.

I hope that all make's sense, just very confused.

Thanx :j

As long as the money goes in the old ISA before 4 Apr that is fine.

You can open a new ISA whenever you like, just make sure you do not pay any money into it until after 4 Apr.

I got my interest from San in March too, the rest will come in Apr or when you close/transfer the ISA.

Jevvers

Kaplinski wrote: »

Any help would be great!

Am i able to transfer my 2011/12 ISA just before the end of this financial year, AND open up a new ISA for 2012/13??

Also as it went up to £5640 for this year, can i put £300 in my old ISA before transferring? Or will that not be possible if i open up a new ISA for 2012/13 and pay some money in to that one?

Yes you can transfer and yes you can open up a 2012/13 ISA.

But you cannot pay £300 into the 2011/12 ISA.

Each year has its own ISA limit and once you reach that (or once that financial year ends) you cannot pay any more in. But you can move it around and keep accruing interest of course.