Consolidating ISA's, how?

Stavros_3

I have just opened up a fixed rate ISA with Nationwide for 2008/9. I am in the process of transferring my previous years ISA from the B & B to the Nationwide.......BUT, it goes into a seperate Nationwide fixed rate ISA, so I now have 2 seperate isa's within the Nationwide, so when can I get it all lumped into one ISA as I don't want to get to next April and have yet 3 different ISA's, how the hell do I get it all grouped into one ISA, ta

Baldur

Looking at the FRISA Bond Ts & Cs, I suspect that you will not be able to consolidate these funds until both bonds mature, you will then be able to consolidate them into your chosen 2009/10 ISA by transferring them (assuming that that ISA does not have similar opening restrictions to the NW one, i.e.only one lump sum payment permitted).

10_66

Stavros wrote: »

how the hell do I get it all grouped into one ISA, ta

If next year you opted for aother fixed rate ISA where the provider did not permit additions, some providers (Halifax for example) get around this by transferring all of your previous years' ISAs into an instant access ISA first and when all of the transfers in are accumulated, they then transfer this into their fixed rate ISA.

Milarky

Stavros wrote: »

how the hell do I get it all grouped into one ISA, ta

Provided that you can get the same rate - regardless of balance - in different accounts is that really a problem for you? It's the rate that you are after I'd imagine.

The (irritating) thing about NW ISAs is that regardless of when you open then they pay interest on 31st March each year. So even with a 12 month fixed rate you will get two chunks of interest. Now for some people (such as myself) You'd like to know that when you put (say) £10000 into a 'bond' @ 6.15% it will pay you exactly £615 on maturity. With NW it will be that and a few pennies - because they will pay interest between today and 31st March next year and then a small addition for 1st April to today's anniversary - which includes interest on the interest added of course...