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Transfer Cash ISAs Discussion Area
Comments
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Hi,
I had a Santander ISA opened and wanted to transfer it to a new provider there is a balance from last year & about £500 contributed this year. I was under the impression I could transfer the whole amount and make any remaining contributions to the new provider. However the new provider has only transferred last year’s balance & left this years, now I’m not sure which one I am supposed to contribute to!!
Anyone any advice?
EmilyMortgage @ 01.06.10 £165,999Mortgage @ 31.10.13 £14,6640 -
Whilst this year's money still sits with your old ISA provider, you can only make further contributions there (assuming they are still allowing further contributions).
On a transfer form you usually have to tick a box if you want the current year's money transferred. Can you remember, did you tick that box? If you did, complain to your new provider that they have not executed your instructions properly. If you didn't, you can always ask for another transfer.0 -
Started praying that the Coventry Reward ISA at 2.50% is still open in October when my Nationwide ISA rate drops as I have an old fixed isa I renew each year with them. Doesn't look as if I will be able to transfer to the Leeds BS ISA I opened with £100 as other posts suggest they are not allowing anymore transfers in."Look after your pennies and your pounds will look after themselves"0
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Clarification required if possible please:
I currently have my Natwest ISA, with ~£7000 sitting in it at a rubbish rate. Can I open a Halifax 2 year fixed rate ISA and transfer ~£6000 into it, and then also open a new Tesco Instant Access ISA for the remaining £1000?
In my mind I think I can, as the Halifax ISA will simply replace the Natwest ISA, and the Tesco ISA will be my 'new' ISA for the tax year.
Have I made the above up in my financially scrambled mind, or can I do this?0 -
carltonpalmeratemydonkey wrote: »Clarification required if possible please:
I currently have my Natwest ISA, with ~£7000 sitting in it at a rubbish rate. Can I open a Halifax 2 year fixed rate ISA and transfer ~£6000 into it, and then also open a new Tesco Instant Access ISA for the remaining £1000?
In my mind I think I can, as the Halifax ISA will simply replace the Natwest ISA, and the Tesco ISA will be my 'new' ISA for the tax year.
Have I made the above up in my financially scrambled mind, or can I do this?
How much have you deposited this year? This years deposits need to stay together. So if you have deposited £2000 you can't really do the £6000/1000 as this years money would technically be part of the £6k and it will be in a fixed term and therefore cannot be added to, losing the rest of your allowance.0 -
I've deposited bits and pieces as I go along (I hate having odd numbers in my current account so always transfer them across at the end of each day!), so I've got £5422.35 left this year, is that all I can take across to Halifax this tax year? And if so can I continue putting anything further into the Natwst account after the transfer?0
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As the Halifax ISA is a fixed rate ISA you cannot pay any more money into it once it is opened. Therefore, you should only transfer previous years isas savings to the Halifax. Tick the box on the transfer form only for previous years isa.
Transfer this year's isa savings (2013-2014 tax year) to Tesco easy access and you will be able to top it up to the maximum allowance of £5760."Look after your pennies and your pounds will look after themselves"0 -
Good evening ppl
Need some advice.
Currently have a Santander ISA with around £40k in it which has just matured so rate has plummeted.
Looking for the best transfer in but dont want to fix as we may move house later this year.
Can someone recommend the best ISA for transfers in please? - I've seen First Direct but I don't bank with them although I did think about opening up an account and leaving £1k in there - I think this would qualify me to get the 3% rate - please correct me if I am wrong.
Otherwise I saw that Ulster Bank were offering 2.25% variable.
Just wondering if this is the next best and am I missing something about this as I couldn't see it in Martins guide.
Cheers
WJUK0 -
As has been covered on the MSE forums countless times, you do not need to keep £1K in the FD current account. All of £1 in an esaver will be enough to eliminate charges. All listed on the FD website, just needs a bit of searching.0
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Hi all looking to make my money work for me, never done a ISA ! wages go one account to pay bills no intrest0
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