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Just need some straightforward ISA advice
karen_newcastle
Posts: 466 Forumite
I received some very poor financial advice 8 years ago and since then I have been paying £40 a month into a Pearl ISA (to help my daughter through uni) I have 2 years left.
This savings plan has been extremely poor and I need to move it. The balance currently stands at £3885. I have decided that the best thing it to put it into another ISA but I am unsure how.
Do I cash in the Pearl ISA and then open another ISA with the £3880 as a n opening balance? Or do I open another with £1 and transfer the Pearl on into it?
I am not bothered about getting the very best rate - I want a good solid perfoming ISA that I can trust - maybe one fixed for 2 years. Any ideas????
Sorry for coming across really thick but it seems very complicated to me.
This savings plan has been extremely poor and I need to move it. The balance currently stands at £3885. I have decided that the best thing it to put it into another ISA but I am unsure how.
Do I cash in the Pearl ISA and then open another ISA with the £3880 as a n opening balance? Or do I open another with £1 and transfer the Pearl on into it?
I am not bothered about getting the very best rate - I want a good solid perfoming ISA that I can trust - maybe one fixed for 2 years. Any ideas????
Sorry for coming across really thick but it seems very complicated to me.
It all works out good in the end.
If it's not good, it's not the end!
0
Comments
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Toon Army!!:TSince when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
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Thanks Proliant but I know even less about football than I do about ISAs lol!It all works out good in the end.If it's not good, it's not the end!0
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Say you go to the Halifax on Tuesday and you open an ISA with £1, call or visit Perl and close the ISA the same day, ask for a bankers draft or cheque for the balance of the closed account and then pay it into the Halifax...for example.
Hope this helps
Regards
RobSince when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
I assume this is a S&S ISA? The Pearl ISA has been mentioned on here before and if I remember had some exit penalties but I can't remember over what period.
Found the thread - is it this ISA?
http://forums.moneysavingexpert.com/showthread.html?t=166663
Whatever you do don't cash it in - you will lose the ISA status.0 -
Say you go to the Halifax on Tuesday and you open an ISA with £1, call or visit Perl and close the ISA the same day, ask for a bankers draft or cheque for the balance of the closed account and then pay it into the Halifax...for example.
Hope this helps
Regards
Rob
Sorry but that would be the worst thing to do. You will lose the ISA status and possibly incur exit fees.0
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