Transfer Cash ISAs Discussion Area

ahunter

Nationwide BS is now allowing transfers in to all existing Cash ISAs (except Regular Saver and Save to Buy).


This means that it offers 1.5% on the Flexclusive ISA which I think is the best rate for any easy access account accepting transfers in, better than the Post Office ones in the MSE article.


Although if you don't have one of these already, your main current account has to be with them too.

Archi_Bald

ahunter wrote: »

....... the Flexclusive ISA which I think is the best rate for any easy access account accepting transfers in

It's not actually the very best, and 1.5% instant access with transfers in is available from various providers

https://forums.moneysavingexpert.com/discussion/401374

ahunter

Archi_Bald wrote: »

It's not actually the very best, and 1.5% instant access with transfers in is available from various providers


Fair enough - thanks for the link.


I wanted to stick with NW and this account wasn't allowing transfers in a week ago. Hopefully it helps someone in the same position.. (but possibly not!)

Liverpoolfclondon

Hi,

Has anyone else noticed the 2% deal from a bank called Al rayan, formerly the Islamic Bank of Britain.

You get 2% interest, transfers allowed and all you have to do is give 120 days notice before withdrawing your money.

Has anyone tried this yet or signed up for this deal? Everything, I've seen so far, suggests that Al rayan is legit.

Cheers

colsten

It's a sharia-compliant ISA, so there is no interest rate, just a guesstimate on what they may be able to pay.

osiangwynedd

bowlhead99 wrote: »

There is an HMRC restriction that current year cash ISA allowance should be with the same provider but no such restriction on what you do with your accumulated reserve from previous years.

Could you clarify that? I always understood that you can only deposit new money into one account, but you've phrased it differently in that the current year's allowance can only be with one provider. Does that mean that if I have used up all the current year's allowance with one provider then I can't transfer it to another provider until the next year?

badger09

osiangwynedd wrote: »

Could you clarify that? I always understood that you can only deposit new money into one account, but you've phrased it differently in that the current year's allowance can only be with one provider. Does that mean that if I have used up all the current year's allowance with one provider then I can't transfer it to another provider until the next year?

No, it doesn't. If you want to move your current year cash ISA subscription to another provider (and both providers allow it, and you use the new provider's transfer process ) you can do so.

What it means is that all your current year cash ISA subscription must stay together. They can be with any one provider at any one time, so transferring from provider A to provider B is fine

beerleo

Hello all, I am planning to transfer in my previous years ISAs to Leeds 2yr fixed rate ISA @ 2.1% which strangely isnt listed as one of Martin's best buys. It suits me as one can withdraw 25% without penalty. It states min. investment as £100. I just want to clarify please that I can just transfer in and still put this 15/16 tax yr's into another cash ISA elsewhere, i.e., Coventry's 2.25% fix. Thanks in anticipation.

Archi_Bald

Unless you have the Leeds ISA already, it's not much use as it's no longer available to new applicants.

Generally speaking, transfers can be made into ISA A. As long as there is no new (non-ISA) money deposited into ISA A, you can deposit new money into cash ISA B (and also into S&S ISA C).

beerleo

Archi_Bald wrote: »

Unless you have the Leeds ISA already, it's not much use as it's no longer available to new applicants.

Generally speaking, transfers can be made into ISA A. As long as there is no new (non-ISA) money deposited into ISA A, you can deposit new money into cash ISA B (and also into S&S ISA C).

Thanks for the reply.

It looks like I've scraped in just in time as I received the transfer in form yesterday with the new account # on it.