Transfer Cash ISAs Discussion Area

Cannons

Please Help...i have just tranferred my ISA into a higher rate payer which was completed in early March 2009. I have only put in £2930.00 of this years allowance, so have a further £670.00 remaining. My question is this..Can i deposit the remainder of this years allowance into the new ISA (before the April deadline), then open another ISA in April for the 09/10 tax year and pay all 09/10 allownce into that account and leave the transferred one alone??

ta

Lokolo

Cannons wrote: »

Please Help...i have just tranferred my ISA into a higher rate payer which was completed in early March 2009. I have only put in £2930.00 of this years allowance, so have a further £670.00 remaining. My question is this..Can i deposit the remainder of this years allowance into the new ISA (before the April deadline), then open another ISA in April for the 09/10 tax year and pay all 09/10 allownce into that account and leave the transferred one alone??

ta

Yes you can do that

Dustykitten

Sorry if this has been posted already but I was just reading another ISA thread and Cottager had posted this:

Marks & Spencer Money Advantage ISA
(with bonus rate till 21 Apr 2010)

Don't know that it's worth adding anything to your entry in the first post, Kazza, but just for info there was a flyer enclosed with my M&S quarterly points statement which came today. For M&S card holders they're offering 2000 M&S loyalty points to open or transfer into this account (equal to £20).

Part of the small print:
Bonus points offer applies to new deposits and amounts transferred from other ISA providers to us between 3 February and 5 April 2009, into the Advantage Cash ISA option only, by new and existing M&S Cash ISA customers who are also M&S Credit Card or Chargecard holders. Offer excludes switches from the Fixed Rate Savings option of the M&S Cash ISA to the Advantage Cash (ISA option. To obtain the bonus points you must complete the application form(s) contained in the bonus points application pack. Bonus points offer not available for online deposits. Your points will be added no later than 30 April 2009 and converted to reward vouchers for your next or subsequent quarterly loyalty mailing.

2000 points would be nice but I've filled my sub this year and the offer ends on 5 April.

Also, in the main blurb:
Call now for a bonus points application pack, quoting ID09, 0808 004 4444.

That ID number above doesn't look like it's individual to me, just printed like the rest of the text, but I'm really not sure so if anyone uses it and M&SFS think you're me, my apologies




I quite fancy £20 M&S vouchers so think I might try this for my transfer.

Anyone have any experience of M&S transfers?

dipakchauhan

By refusing to give exisithing customers the opportunity to beneift from hi paying accounts? I am surprised at how difficult the banks are making it to transfer the ISA funds to better earning accounts in the same bank. Should this not be regulated.......

Baldur

dipakchauhan wrote: »

By refusing to give exisithing customers the opportunity to beneift from hi paying accounts? I am surprised at how difficult the banks are making it to transfer the ISA funds to better earning accounts in the same bank. Should this not be regulated.......

Banks & other institutions are free to choose whether they wish to accept an application for an account or a transfer, whether it's internal or external, just as customers are free to vote with their feet and transfer their funds elsewhere.

Dagobert

I opened a cash ISA with Lloyds TSB in March 2008 transferring in previous years' ISAs. In 2008/09, I paid in £3600.

I would like to transfer this ISA to a new provider now.

FirstDirect cash eISA online application and T&Cs state that a minimum opening amount of £1 is required. As I cannot add any further money, I phoned FirstDirect to clarify this. I was told that one cannot open an ISA if one has already subscribed for the year and that I need to wait till next year.

I am sure this is incorrect. I did exactly this last year and replies to similar questions on this forum confirm my thoughts. I had similar problems convincing the TSB advisor last year.

Has anyone who is fully subscribed for this year tried transferring in to FirstDirect?

Baldur

Dagobert wrote: »

I opened a cash ISA with Lloyds TSB in March 2008 transferring in previous years' ISAs. In 2008/09, I paid in £3600.

I would like to transfer this ISA to a new provider now.

FirstDirect cash eISA online application and T&Cs state that a minimum opening amount of £1 is required. As I cannot add any further money, I phoned FirstDirect to clarify this. I was told that one cannot open an ISA if one has already subscribed for the year and that I need to wait till next year.

I am sure this is incorrect. I did exactly this last year and replies to similar questions on this forum confirm my thoughts. I had similar problems convincing the TSB advisor last year.

Has anyone who is fully subscribed for this year tried transferring in to FirstDirect?

See http://www.firstdirect.com/savings/cash-eisa-overview.shtml

transfer any ISA balances to us, held with other providers, from previous or current tax years. (Transfers from existing first direct ISAs are not permitted).

Dagobert

Baldur wrote: »

See http://www.firstdirect.com/savings/cash-eisa-overview.shtml

transfer any ISA balances to us, held with other providers, from previous or current tax years...

Second phone-call and again, I was told I could not open another ISA this year. But this time I insisted this was incorrect and so I was passed on to the ISA team.

They confirmed to me that when transferring in no min. initial funding was required.

s100_2

so have you opened one on-line? did it show up straight away?

I applied for one yesterday, but still not showing on my accounts page yet....

Dagobert

s100 wrote: »

so have you opened one on-line? did it show up straight away?

Yes and No.
I was told they send out documents first.