ISA transfer

wobler

I have a cash isa which exceeds the dreaded £35000.00 figure.is it possible to transfer part of the money to open another cash isa bank account ,without loss.

maypole

wobler wrote: »

I have a cash isa which exceeds the dreaded £35000.00 figure.is it possible to transfer part of the money to open another cash isa bank account ,without loss.

Most institutions allow partial transfers.

wobler

:T maypole

snarffie

You just go into the bank that has the isa product you want to make a partial transfer into. Fill in the forms with the details of the bank that has the £35k, and tick the box for 'partial transfer'. Another box will allow you to state how much of the £35 you wish to transfer.

You could do this online/over the phone depending on the bank, of course. However, you will, at some point have to put down your signature against the transfer request, so I like to do it all in the bank, if possible (Went with Lloyds' 6.5% fixed rate this year).