transfering ISA quick question

pana37

hi all my wife need to open a ISA for 2007/08 i know the deadline is a day away could if she opens up an ISA one with her current bank then can she transfer to another bank e.g ICE SAVE after as she has missed the deadline for that?

thanks

earlgrey_3

You can tranfer a cash ISA whenever you want, subject to the notice conditions of the account you're in, to any provider that allows transfers in. Not all do and some only allow transfers in from previous years if you open the current year's ISA with them. A list of the top payers allowing inward transfers: http://www.moneyfacts.co.uk/savings/bestbuys/mini-cash-isas-accepting-transfers-in.aspx.

A few, not many, make a charge for transfers out and it can take up to 30 days to go through. Another option could be Abbey who are paying a decent rate and can be opened in a branch up to the last minute. As soon as they accept the application you're OK, i.e. cheque doesn't need to have cleared.