Transfer Cash ISAs Discussion Area

alkip

Thanks Baldur, I will.

alkip

Originally Posted by alkip
I recently took advantage of a 3.15% fixed rate mini cash ISA with the Skipton which was offered to existing customers who had a 6.something% fixed rate one with them last year.

Was this a simple transfer of the balance of your 2008/9 FRISA to another FRISA with Skipton or were additional funds involved?

Simple transfer, no additional funs involved

When I went in today to have my book updated I also took in my Skipton variable rate mini cash ISA book (currently running at 2%) to have that updated too and was thinking of transferring that amount which is approx £3500, in to the fixed rate ISA but 2 assistants advised me not to if I have funds elsewhere. I do have funds elsewhere but they are earning 2.33% gross.

I feel that it is in my best financial interests at this time to transfer my mini cash ISA to the fixed rate one, am I missing something?

Does the 3.15% FRISA permit additional deposits/ISA transfers?

It does up to such time as they close it i.e. end of May

I was also told that if I transfer in the money I could not open another mini cash ISA either with them or elsewhere for this tax year, I stated that afaik transfers didn't affect your allowance but they were insistent that they were right, were they?

Correctly conducted ISA transfers (i.e. by completing the new provider's transfer form and leaving them to arrange the transfer) do not affect your annual ISA allowance.

It was all done internally, I received some literature through the post but lost that, after ringing them they told me to go in to a local branch and have one of the assistants write out a transfer request and I signed it

Lastly I asked whether or not I would still have my allowances of £3600 which I could put in as well, seeing as I had done transfers with the other monies, before the end of May which is when they are looking at closing the offer, but was told no, why?

See above - you'd need to ask Skipton why....

I shall, thankyou kindly

JP1980_2

Lokolo wrote: »

Nope not at all.

Excellent! Many thanks Lokolo.

JP

BEA238

Hi, I have a mini cash ISA and have been using it as a regular saving account. I don't know whether to leave it where it is at a very poor rate and wait for the rate to go up or transfer it? Is it easy? Do I need to open up a new one and get my new Bank to arrange for the transfer rather than closing it down and starting again?

toots44

nooneshuffle wrote: »

Hi - having received contradictory advice from 3 Barclays advisors I wanted to get some clarification on the following:

I opened a Barclays Golden Isa for 2009/10 yesterday.

I also have an ISA with Barclays from last year, which is now receiving negligible interest.

I went into the bank a couple of weeks ago to get advice on how to make the most with my ISA allowance and was told to wait until this tax year, open a Golden ISA, transfer last year's in and put an extra £3600 as 2009/10's allowance.

Yesterday I was told that I couldn't do this, and following opening the Golden for 2009/10 was told there is nothing I can do with the 2008/9 sum other than close the account down and put the money into a savings account.

Is this true? Can I not transfer to another ISA because it was last year's allowance? I was also told that I couldn't transfer last year either.

If this is not the case then I wonder if I could kick up a fuss due to bad advice and stick my money elsewhere?

Any help would be greatly appreciated.

I have just asked the same question elsewhere, ie can I transfer last year's Tax Haven ISA to the Golden ISA or do I have to start searching for a higher interest payer to transfer to. As you say the interest is negligible.

KTF

The Golden ISA does not allow transfers in so you can only put this years allowance in it.

If you have opened the ISA and not put any money in to it then you can open another ISA and put money in that instead (you can open as many ISAs as you want but only put new money in to one of them).

Little_Chicken

Morning all.:D Please can someone advise me on what to do with the following ISAs:
A&L - £1200 (2006)
Egg - £3200 (2007)
HSBC - £3000 (2008)

I haven't put any of this year's allowance in yet, but will probably put the whole £3600 into a new ISA over the next 2-3months.:j

I was looking at the First Direct one, but you can only put £300 in a month and can't transfer any ISAs across until next year I think

Ideally I'd like to consolidate the ISAs into one single account if that's the best thing to do.

PS - ignore the debt on my sig, it's on 0% and I'm going to pay it off by the end of the year. Promise. :A LCx

boobbby

Little_Chicken wrote: »

Morning all.:D Please can someone advise me on what to do with the following ISAs:
A&L - £1200 (2006)
Egg - £3200 (2007)
HSBC - £3000 (2008)

I haven't put any of this year's allowance in yet, but will probably put the whole £3600 into a new ISA over the next 2-3months.:j

I was looking at the First Direct one, but you can only put £300 in a month and can't transfer any ISAs across until next year I think

Ideally I'd like to consolidate the ISAs into one single account if that's the best thing to do.

PS - ignore the debt on my sig, it's on 0% and I'm going to pay it off by the end of the year. Promise. :A LCx

I would have thought the e-ISA from Nat West is a good place to stick all your money and once it goes above £10000 you get a rate of 3.51%. You can transfer in and also add this years allowance. On the minus side and because it is a variable ISA you may have to move it if the rate goes too low. One of the best fixed rates is Lloyds at 3% on amounts over £9000

AbbieCadabra

Little_Chicken wrote: »

snip...

I was looking at the First Direct one, but you can only put £300 in a month and can't transfer any ISAs across until next year I think

...snip

this is the first direct isa i've been looking at, doesn't say any of that? are you looking at a different one?

far too much choice for me, just wish there were 2-3 to choose from!

Little_Chicken

AbbieCadabra wrote: »

this is the first direct isa i've been looking at, doesn't say any of that? are you looking at a different one?

far too much choice for me, just wish there were 2-3 to choose from!

Hi Abbie, I think the one I was looking at was only if you had a first plus current account Think I might try the lloyds fixed rate one and bump it up with some extra money. At least then I can forget about it until the rates improve again.:beer: