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Transferring Cash ISA Balance
johncolescarr
Posts: 294 Forumite
Can anyone help me?
I have an existing cash ISA and want to transfer the balance to the A&L direct ISA (6.25%). When I go to apply, the application form states that I need to open a Direct ISA before I can previous cash ISAs in.
However, the application form also states that I must not open an A&L direct ISA if I have contributed to another ISA in the same tax year, which I have since I opened my current ISA account in this tax year.
Does this mean that I cannot open the account until the next tax year (ie next week?). If this is the case, if I open an A&L in the next tax year does this mean I cannot open another cash ISA in that same tax year (say Barklays ISA at 6.5% [which will not allow balance transfers]).
I'd be really greatful if someone could help me on this one as I'm pretty confused about it
I have an existing cash ISA and want to transfer the balance to the A&L direct ISA (6.25%). When I go to apply, the application form states that I need to open a Direct ISA before I can previous cash ISAs in.
However, the application form also states that I must not open an A&L direct ISA if I have contributed to another ISA in the same tax year, which I have since I opened my current ISA account in this tax year.
Does this mean that I cannot open the account until the next tax year (ie next week?). If this is the case, if I open an A&L in the next tax year does this mean I cannot open another cash ISA in that same tax year (say Barklays ISA at 6.5% [which will not allow balance transfers]).
I'd be really greatful if someone could help me on this one as I'm pretty confused about it
Mortgage £120K, monthly overpayment £600, 18 years and £100K saved
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