How do I change from one ISA to another?

MrsX_2

I started paying £100 a month into a smile account ISA last year. It currently has about £800 in it.

I'd like to change to something with a higher rate but I am aware that you are only allowed one ISA so wondered how I would go about transferring the funds?

If anyone can recommend a new account I would be gratefull, I'd like to continue paying £100 a month in, but would like to access the cash if neceserry.

Thank you.

BenL

There is a post in this forum with the details of the best available ISA's which is updated regularly - this will help you find what you need.

Split into section for accounts that allow transfers in.

Martin has an article on Cash ISA's and transfering cash ISA's so this will be a good start point.

The articles are accessed from the tabs at the top of the page - these are in the savings section.

When you have selected a new ISA provider, open the account with them and ask them for a transfer form.

The new provider will then request the money from the old one and that can be closed.

Never withdraw the money yourself as you will lose the tax free status.

Hope this gets you started

Ben

MrsX_2

BenL wrote: »

There is a post in this forum with the details of the best available ISA's which is updated regularly - this will help you find what you need.

Split into section for accounts that allow transfers in.

Martin has an article on Cash ISA's and transfering cash ISA's so this will be a good start point.

The articles are accessed from the tabs at the top of the page - these are in the savings section.

When you have selected a new ISA provider, open the account with them and ask them for a transfer form.

The new provider will then request the money from the old one and that can be closed.

Never withdraw the money yourself as you will lose the tax free status.

Hope this gets you started

Ben

Thanks Ben, thats very helpful :beer: