Transfer Cash ISAs Discussion Area

neenaww

Thank you :-)
I will move the instant access one & see what I can do re the fixed one ... Or hope the next 2 years go fast and see if I think it was worth it!

bfc1882uk

Hi, I opened a barclays loyalty reward cash isa in September 2012. The rate for the first year is 3.05% but in September will drop. The best cash isa current seems to be paying about 2.55%. I'm thinking about opening a new cash isa for 2013. My question is can I/should i keep my old cash in barclays (not making any more deposits) until september then transfer in to the new isa when the barclays rate drops?

myth123

I think I'm doing this correctly but I just want to check because I've never actually transferred an ISA before!

I have the Flexclusive issue 1 with nationwide which pays 4.25% until the end of this October that I opened last year. I am intending on paying into this ISA for this year's 'new money' ISA too. I am thinking of opening the Online bonus with Leeds Building Society and transferring £1 from my Flexclusive ISA money that I paid in last year, so that I have an account open to transfer the whole of the Flexclusive ISA balance come the end of October...

Am I doing anything wrong here? My thinking is at least I have somewhere with a higher rate than the flexclusive come October and because I am transferring am I right in thinking if something else better (doubtful?) comes along that also allows transfers, I can just open and transfer into that instead?

badger09

myth123 wrote: »

I think I'm doing this correctly but I just want to check because I've never actually transferred an ISA before!

I have the Flexclusive issue 1 with nationwide which pays 4.25% until the end of this October that I opened last year. I am intending on paying into this ISA for this year's 'new money' ISA too. I am thinking of opening the Online bonus with Leeds Building Society and transferring £1 from my Flexclusive ISA money that I paid in last year, so that I have an account open to transfer the whole of the Flexclusive ISA balance come the end of October...

Am I doing anything wrong here? My thinking is at least I have somewhere with a higher rate than the flexclusive come October and because I am transferring am I right in thinking if something else better (doubtful?) comes along that also allows transfers, I can just open and transfer into that instead?

You're not doing anything wrong - in fact its a good plan and I'll probably do the same but with say £100 so it doesn't look like I'm taking the pi**

Don't forget to ask Leeds to do the xfer though, don't try to do it yourself!

badger09

bfc1882uk wrote: »

Hi, I opened a barclays loyalty reward cash isa in September 2012. The rate for the first year is 3.05% but in September will drop. The best cash isa current seems to be paying about 2.55%. I'm thinking about opening a new cash isa for 2013. My question is can I/should i keep my old cash in barclays (not making any more deposits) until september then transfer in to the new isa when the barclays rate drops?

If you can add this year's allowance to your Barclay's ISA, you'd be better doing that, then follow myth123's cunning plan

katies_mum

We opened Santander Major ISA`s 3% and completed transfer forms so our ISA`s with Lloyds could be transferred in when they matured on 29th March (I appreciate this was Easter weekend) We have received letters from Santander dated the 27th March acknowleding the transfer forms, saying they are progressing with the transers.

I`m wondering if anyone knows about how long this should take as nothing is yet showing in our Santander ISA`s and they have had 4 working days to deal with it.

Many thanks

ColdIron

Anything up to 15 days

liver-bird

innovate wrote: »

You cannot do that transfer yourself. You must ask Halifax to do it for you.

No, sorry, I meant it wouldn't let me open the ISA online.

It's ok though. I thought the Halifax 3yr FR 3% ISA was only available until last night but I see it's there today too so I have opened one online and can now complete the form to transfer my old ISA into it on maturity.

Just need to find one for new money now but not much around that's decent!

veryintrigued

badger09 wrote: »

You're not doing anything wrong - in fact its a good plan and I'll probably do the same but with say £100 so it doesn't look like I'm taking the pi**

Don't forget to ask Leeds to do the xfer though, don't try to do it yourself!

This looks like my plan of attack too.

Question (and its a daft one) though. When transferring the money (beit £1 or £100) how do the ISA police know its from last years allowance and not the 13/14 allowance you've just filled up with Nationwide.

You see - am thinking far, far too much!!

rb10

veryintrigued wrote: »

This looks like my plan of attack too.

Question (and its a daft one) though. When transferring the money (beit £1 or £100) how do the ISA police know its from last years allowance and not the 13/14 allowance you've just filled up with Nationwide.

You see - am thinking far, far too much!!

When you fill in the ISA transfer form, there will be a box to tick to say whether you are transferring funds from the current tax year or from previous tax years.