Transfer Cash ISAs Discussion Area

innovate

If you wish to transfer an existing Santander cash ISA to another Santander cash ISA simply:

• Visit any Santander branch or call 0845 600 0181.
• You might be asked to provide a Cash ISA Internal Transfer Form

Source: http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1237836201044&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA1

lolly1963

Thankyou

leaphaze

savinghard4family wrote: »

I have about £19k in my current ISA. My 3.1% deal runs out on 31 Oct 2013 and will then drop to a pathetic 1%.

I can't work out if it is worth leaving the money in this ISA and paying in next year's allowance too, or if I should transfer the lot to one of the best deals currently available that will get me through the next tax year at a lower % (eg. 2.25%). I guess a third option is to just start a new ISA for next year's savings and leave the £19k where it is.

Just ask yourself where you can generate the most interest while retaining the most flexibility as far as your attitude towards future transfers/withdrawals are concerned.

If 3.1% is the best available then next year's allowance should go in there on April 6th; the decision you make on 31 Oct 2013 can be left until then.

I wouldn't transfer to a lower rate.

givememoney

I am now retired and do not have the facility of adding savings.

However I do have two Barclays ISA's one current and one from a previous year.

My question is this, can I transfer both ISAs into a new ISA?

Ta

ceejayblue

Yes you can, find a provider that gives you the best interest, open a new ISA and ask for transfer forms (don't take the money out of your existing ISAs, they will organise it)

neenaww

Can you help...

I have agreed verbally (over the phone) to transfer my old ISA to a new one with the same provider. I have now received the paperwork confirming changes etc. My question is, do I have a "cooling off" period? Can I cancel in writing, as I now see other banks are offering higher rates than I have been offered on the new ISA and I have locked away some savings!

boobbby

neenaww wrote: »

Can you help...

I have agreed verbally (over the phone) to transfer my old ISA to a new one with the same provider. I have now received the paperwork confirming changes etc. My question is, do I have a "cooling off" period? Can I cancel in writing, as I now see other banks are offering higher rates than I have been offered on the new ISA and I have locked away some savings!

You can always transfer an ISA to a new provider at anytime providing they accept transfers. So no need to cancel. Your only problem would be if the new ISA with the original provider is a for a fixed term, then there would be a penalty which is usually a lose of interest.

neenaww

Thanks for that. I split the ISA so some of it is fixed for 2yrs and the other is instant access.

So are you saying that I don't have a cooling off period? DAMN!!

boobbby

neenaww wrote: »

Thanks for that. I split the ISA so some of it is fixed for 2yrs and the other is instant access.

So are you saying that I don't have a cooling off period? DAMN!!

That's interesting so I assume that your old ISA was made up of previous ISA's and part of it was 2012/13. If it was all of this years ISA you would not have been able to split it !

innovate

boobbby wrote: »

That's interesting so I assume that your old ISA was made up of previous ISA's and part of it was 2012/13. If it was all of this years ISA you would not have been able to split it !

True for most providers, but Nationwide would allow you to hold your current year's deposits across more than one of their ISA offerings.

neenaww - - if you haven't yet signed a transfer form, you haven't yet committed to the transfer. Just trash the form and instead go to the better provider.