Transfer Cash ISAs Discussion Area

10_66

zargarf wrote: »

Hi

I opened an ISA with Scottish Widows to put in my Icesave money that the fsca gave back to me. Unfortunately the application was lost in the post and as such I have lost my Icesave ISA certificate. I contacted the FSCA, but they said I needed to talk to Ernst and Young (The Administrators of Icesave), but have no idea who to contact.

Does anybody have any idea? I don't want to lose the tax-free status of the cash

Cheers

Faisal

I know THIS person was involved in either the Kaupthing or Icesave administration (can't remember which, might have been both). She should be able to advise you.

antispam246

Still looking forward to what to do with my current ISA balance and next allowance. I'll have over £10 with new allowance and I'm currently with Barclays Tax Haven ISA so I'm looking to transfer elsewhere and top up in April. Best bets seem to be Natwest and possibly ING if it allows transfers, need to check, it was a promotional offer of 3.5% offered by post.

I've seen various people mention the best bets are actually moving away from ISA's altogether and splitting existing and new allowance between regular savers or other savings accounts which could potentially work out more interest even after tax than any ISA offering on the table.

Other than that I can wait it out abit longer too see if any new offers do come about.

boobbby

shinyfeet wrote: »

I have a monthly saver ISA opened this tax year (which also means I am tied to that one for tax year 09-10) this new one does not accept transfers in.

I have another old ISA now getting a rubbish rate of interest. As I have already opened one ISA this tax year can I still open a new one with a transfer from the older one or is it that you can only open one new ISA account per tax year?

Dodgy word to use "open" as you can only open one ISA per tax year. Better word is "transfer" which you can use as many times as you wish. So in your case go to the new provider and ask to transfer in your older ISA.

boobbby

antispam246 wrote: »

Still looking forward to what to do with my current ISA balance and next allowance. I'll have over £10 with new allowance and I'm currently with Barclays Tax Haven ISA so I'm looking to transfer elsewhere and top up in April. Best bets seem to be Natwest and possibly ING if it allows transfers, need to check, it was a promotional offer of 3.5% offered by post.

I've seen various people mention the best bets are actually moving away from ISA's altogether and splitting existing and new allowance between regular savers or other savings accounts which could potentially work out more interest even after tax than any ISA offering on the table.

Other than that I can wait it out abit longer too see if any new offers do come about.

Bit of a catch 22. Your right there are better rates than those with existing ISA's but he problem is once you have moved to the present better rate of interest you will have lost the tax free status that now exist with your fund. Could be in the future ISA's will again be the way to save and you wont have any substantail fund to invest in tax free accounts!!

geet

hi, posted this in barclays golden but reposting this here as this thread may know the answer -
can i close my 2008-09 isa with egg and "open", not transfer, that to Barclays golden - i know all this has to be done by april 5th - but is that allowed? I mean closing and opening to avoid transferring?
THANKS.

rb10

I believe the rules are that you can only fund one cash ISA per tax year, so even if the amount in your Egg ISA is less than £1800, you wouldn't be permitted to do this. Just transfer it, which can be done at any time, either before or after April 5th.

geet

thanks rb10, i have 3K in egg for 08-09 and barclays golden does not accept transfer, so was wondering if i could close egg and start for same 08-09 in barclays - looks like i can't:-( so have to look elsewhere.

purple_mara

I have a NatWest "Cash Isa - Tessa funds" account paying 0.29%. I want to transfer this to the NatWest E-ISA.

Branch staff told me I needed to open an E-ISA online paying in a nominal £1 and then fill in the "transfer from another provider" form. However, online system won't let me do this as I already have an ISA with them.

Phoned the help line on an annoyingly expensive 0845 number who said I can't do that because you are not allowed 2 ISAs at once and my best option was to transfer it to one of their ordinary savings accounts!

Can anyone advise me of my best option (and if either of their conflicting statements have been true).

Lokolo

I would go into branch and arrange an appointment with one of their staff.

State you want that ISA and you want to transfer in and say you cannot open the E-ISA because you have already subscribed to an ISA so therefore cannot deposit the £1 to open it.

If they refuse then ask them to do it, and again, and again, until they do open it

purple_mara

Lokolo wrote: »

I would go into branch and arrange an appointment with one of their staff.

State you want that ISA and you want to transfer in and say you cannot open the E-ISA because you have already subscribed to an ISA so therefore cannot deposit the £1 to open it.

If they refuse then ask them to do it, and again, and again, until they do open it

Unfortunately I think this may just take up a lot of my time and get me nowhere. I made them go and fetch a manager this morning in the branch and that was their answer.

I haven't paid into an ISA during tax year 2008/2009. My ISA with them being a TESSA only funds one means I haven't been able to pay anything into it since it became an ISA. So I really can't see why I can't have 2 ISAs at once, but given the quality of advice from the helpline staff, I can't see how i'm going to get any joy.

But definitely want to do something better with my pennies.