ISA Transfer

simpleguy_blr

My previous ISA (07/08) is held with HSBC, can I transfer this to another provider and open the new e-ISA with HSBC for the current years allowance?

Are there Banks which accept transfer of only previous years ISA monies?
or do I have to transfer the old one and along with it deposit the new money ?

Many Thanks for your kind help.

debbie42

simpleguy_blr wrote: »

Are there Banks which accept transfer of only previous years ISA monies?
or do I have to transfer the old one and along with it deposit the new money ?

Some providers will accept transfers without new funds. I'm not sure why you'd want to do this and still open a new one with your current provider though? Unless it's because you don't want 35K+ with one bank?

simpleguy_blr

Hi Debbie,

Thanks for the reply.

HSBC has a new e-ISA which pays 6% but they will not transfer any old funds held with them into the new Account and the interest on the old account is not so good.

I still would prefer if HSBC allowed me to merge the previous 3k with the new fund.

debbie42

I see what you mean: it's annoying when that happens.

Icesave definitely allow transfers in and are paying 6.10% with a rate guarantee at the moment.

10_66

Nationwide is offering a 1 year fixed rate @ 6.15% which permits transfers in of existing ISA's without having to add this year's contribution.

http://www.nationwide.co.uk/savings/rates.htm

mac12

simpleguy_blr wrote: »

My previous ISA (07/08) is held with HSBC, can I transfer this to another provider and open the new e-ISA with HSBC for the current years allowance?

Are there Banks which accept transfer of only previous years ISA monies?
or do I have to transfer the old one and along with it deposit the new money ?

Many Thanks for your kind help.

This was discussed a little bit this morning

http://forums.moneysavingexpert.com/showthread.html?t=843075

I think you are not allowed to combine the old with the new. There is a response from HSBC in there too that someone got.

simpleguy_blr

Hi

Does anyone know if A&L - Direct ISA Issue 4 accept transfers without needing to deposit new funds (08/09)?

Many Thanks