Transfer Cash ISAs Discussion Area

Lokolo

Oh right makes sense. Sorry just a lot of people come on here wanting to move their ISAs to savings accounts then losing the allownace etc. without realising, but obviously you do know

You could just open a Natwest one, not bother with the Barclays one. If they say no, then yeh obviously go for it, open barclays then transfer back. But I can't see why Natwest would say no to opening a new ISA with the better rate (if they don't, they're b*****ds)

dekkard

I have a cash ISA with A&L. It consists of some previous years' ISAs plus this year's money - not yet paid in the full £3,600 for this year yet.

Can anyone advise whether I can move the whole lot into the NatWest cash ISA recommended in Martin's last email? Or can I only move the previous years' money to NatWest and not current year money?

Cheers.

freeasabird

Baldur wrote: »

These 'very sensible administrative reasons' have never applied to any of the (many) other institutions with whom I have ever opened a Cash ISA since the scheme began - none of whom has made such a stipulation.

I have to say this is a concern for me too. I want a streamlined banking service rather than opening accounts just for the sake of an ISA. I want to transfer from Barclay's ISA and found a good rate at the Newcastle Building Society (Newcastle secure ISA 6.20%) but it isn't mentioned on Martin's list of top transfer ISAs. Does anyone know if Newcastle's ISA is ok?

PeterPHayes

tallutd wrote: »

I have a Platinum Plus ISA from CIS. I pay in £30 a month but just found out it is only paying interest of 2.5%. I rang them today and they said I could not transfer it only cash it in. Is this right?

I work for CIS and the Plat Plus ISA is a life assurance product and so you must surrender the policy if you wish to end this ISA, they cannot be transferred. Hope this helps.

mcspanna

I have 4 years worth of ISAs held with Intelligent Finance. Can anyone tell me if IF (!) is part of the same company as NatWest? I'd get a much better rate by transferring to NatWest but spotted the small print about not within the same company - I know that IF are part of Halifax but with the takeover recently I'm confused about who else they're now part of!

Thanks in advance :-)

Synonymous

dekkard wrote: »

I have a cash ISA with A&L. It consists of some previous years' ISAs plus this year's money - not yet paid in the full £3,600 for this year yet.

Can anyone advise whether I can move the whole lot into the NatWest cash ISA recommended in Martin's last email? Or can I only move the previous years' money to NatWest and not current year money?

Cheers.

For the benefit of people in this position, I thought I'd let you know what I've been told when looking into this.

I have one ISA which I have been paying into since Oct 2004, I have £1400 allowance left to put in this ISA in this tax year. It is with Halifax and only at 5%.

I rang Natwest and the person I spoke to confirmed (after I checked and rechecked with him several times!) that I could transfer the whole lot, past years and present, and I would then still be able to pay in the remaining £1400.

He also stated I would have to open another account so that if I ever accidentally overpaid my ISA (i.e. tried to put more than the remaining £1400 left into it), the surpluss money would bounce into this other account.

I am now waiting for application forms from them through the post, he also said it was better to bring them into my nearest branch, as this avoids the risk of sending original ID documents through the post, as they do not take copies.

I then rang and double checked any penalties Halifax might have for transferring, they stated there are no penalties as this is a Cash instant access ISA.

Of course there is always a chance that the person I spoke to didn't know what they were on about, but I'm going ahead with it at the minute, and might have put full allowance into my Halifax ISA by the time it all goes through anyway!

(PS. I also found a local number for both banks on 'saynoto0870'!)

Hope this helps!

dekkard

Synonymous wrote: »

I rang Natwest and the person I spoke to confirmed (after I checked and rechecked with him several times!) that I could transfer the whole lot, past years and present, and I would then still be able to pay in the remaining £1400.

He also stated I would have to open another account so that if I ever accidentally overpaid my ISA (i.e. tried to put more than the remaining £1400 left into it), the surpluss money would bounce into this other account.

Thanks Synonymous. I went into a NatWest branch this morning and the person I spoke to said the same thing.

mcspanna

Me too - rang NatWest and arranged it all over the phone this morning, thought the customer service was good overall too which would be a bonus! Thanks.

dupuytren

Hi all

I've literally just opened my first ever Cash ISA account with Egg last week or so, only to find out several days later about the great Natwest interest rate of 6.67% for transfers in (I have put £3600 into the Egg Cash ISA). Seeing that I've only just opened this Egg cash ISA account for a week, can I still transfer to Natwest so quickly? I feel a bit guilty for doing this to Egg
Btw I have my graduate and savings account with Natwest already (taking advantage of the £50 cashback e-savings at the moment, hope that works!)
This could be an obvious yes to some, but those who have done this before please let me know as I need some form of reassurance, and that the hassle of filling up a few more forms and going to the branch would be worth it...or those who think it's not worth the hassle transferring pls let me know!
Thanks !!

Lokolo

You can do, but it will take hopefully around 4 weeks to transfer and for the 0.5% difference I can't see the point. If Egg drop the rate then I would do that though.

However upto you.

If you do though, you have to fill in an ISA transfer form with Natwest, you can't just 'transfer it' across like you can usually with money.