Is a 'deposit' a 'subscription' when opening a fixed rate ISA?

purplestar133

I've opened a Nationwide fixed rate ISA and transferred my 06/07 funds from Kent Reliance. (I'm sure my application is still sitting on their desk, but I've applied at least.)

My next question (:rolleyes: ) is: seeing as Nationwide's fixed rate ISA only allows one deposit, can I make a second transfer of my 07/08 funds from my Egg ISA into it. By deposits, do they mean, subscriptions i.e paying £3600 by cheque from your current account - do they count transfers from other ISA's as 'deposits'?

daveonline

I've done similar transfers with Nationwide, you wont be able to add to your 06/07 transferred ISA but you can open a new fixed rate ISA (More forms and new account number) for the 07/08 Egg transfer.

Lokolo

Depends how you did it. If you transferred your 06/07 ISA using an ISA transfer form thats fine. If you did it by bacs, or by cheque or whatever, then that would count as your subscription.

purplestar133

daveonline wrote: »

I've done similar transfers with Nationwide, you wont be able to add to your 06/07 transferred ISA but you can open a new fixed rate ISA (More forms and new account number) for the 07/08 Egg transfer.

So open two fixed rate ISAs with Nationwide - is that what you mean?

10_66

Yes, if you want to transfer another previous year's ISA to N'wide fixed rated ISA, they'll have to open another fixed rate ISA account.