Transfering a Cash ISA

dreamybee

Hi guys, just needed a bit of advice on something.I currently have £14K in my mini cash isa with halifax and I only get something like 3.2% interest - I havent yet put any money in for the 08/09 isa - I normally fill up my isa by paying in monthly.I wanted to transfer all this money into the barclay isa which is offering 6.5% interest - however upon reading the small print it states that you cannot transfer in - so which is the best isa for me to transfer the whole amount but will also let me pay in monthly? And I think I would like to transfer the money to a known bank or building society.And also where there be a transfer fee? Am I allowed to transfer now since the new financial year has already started?I look forward to hearing your replies.

Bogof_Babe

You will probably get more replies if you post this on the ISA forum.

http://forums.moneysavingexpert.com/forumdisplay.html?s=&daysprune=&f=18

Hungerdunger

Nationwide are currently offering 5.95% on their one or two year ISA Bonds with monthly paid interest. They do accept transfers in. No transfer fee. You can transfer whenever you like as long as you aren't restricted by the rules and regs of your existing ISA.

savingpennies

I'm currently looking to transfer my previous ISA's and the Alliance and Leicester looks best at 6.25% variable and instant access, though Scarborough are also doing one at 6.3% but with 30 daya notice. I transfer nearly every year to find the best rate and I have never been charged a transfer fee.

davidlee

dreamybee wrote: »

Am I allowed to transfer now since the new financial year has already started?

Yes, you are.

whu

Lloyds is doing a fixed ISA for 12 months for 6.5% if you transfer in 9K - not sure about their rules concerning paying in this years ISA monthly.

whu

Check out other posts on the Lloyds ISA as it seems some people are being told the offer might close on Friday.

Mr._H_2

whu wrote: »

Lloyds is doing a fixed ISA for 12 months for 6.5% if you transfer in 9K - not sure about their rules concerning paying in this years ISA monthly.

There's a minimum opening deposit of £3000 (i.e., that's got to be new money all at once, not a transfer).

The interest rate payable is on a sliding scale and pays 6.5% (fixed for a year) on balances over £9000.

If you haven't used this tax year's (2008/9, started April 6 2008) allowance of £3600, this seems like the best ISA out there if you've got £3600 handy and at least £5400 to transfer in from previous years' ISAs.

earlgrey_3

Mr._H wrote: »

There's a minimum opening deposit of £3000 (i.e., that's got to be new money all at once, not a transfer).

I opened the Lloyds ISA on Monday by transferring money in only, no new money, without any problems. As it's a fixed rate I'd assume you won't be allowed to make additions of any kind once the offer is closed.

Mr._H_2

earlgrey wrote: »

I opened the Lloyds ISA on Monday by transferring money in only, no new money, without any problems. As it's a fixed rate I'd assume you won't be allowed to make additions of any kind once the offer is closed.

Hmmm, that's interesting.

It says quite clearly £3000 minimum opening deposit. How did you get around that? (A transfer is not usually considered an opening deposit, because the account has to be opened and then the transfer procedure followed, which can take quite a while).

funkyhitman

Stoopish wrote: »

Only problem with A&L is they want you to have a current account too and interest is only paid on 1 January. I think the best for transfers in is National Counties

That's for the ISA issue 2 which offers 10%. The ISA issue 4 is the one to go for because it can be opened on it's own.