Baest way forward for my existing Cash ISA

knights

Hi all,

Would appreciate some thoughts.

I have £47k with YBS - which was in their ISA 90 day notice account which has just 'matured' and has now been relocated to their ISA Privilege Plus at 5.4% Variable.

I have used my 2008/09 allowance - £7200, stocks & shares.

I am looking for the best home for this money, an account which accepts transfers in but does not need 08/09 money, possible two homes if I do not want to exceed the £35k 'safety barrier'.

Thanks in anticipation

Baldur

knights wrote: »

I am looking for the best home for this money, an account which accepts transfers in but does not need 08/09 money, possible two homes if I do not want to exceed the £35k 'safety barrier'.

See this post (scroll down for those variable & fixed-rate accounts which accept inward transfers) and here for variable rate Cash ISAs which accept transfers.

knights

Thanks for the links Baldur.

It seems that apart for Chorley Red Rose Mini Cash ISA they all require a minimum deposit, even if it is only £1. As I have used my 08/09 allowance up then I am not allowed to put any more in even if it is just a £1 to open an account, am I?

regards

Baldur

No, you cannot pay in any new money, if you've used your current tax year's allowance.

I have transferred many Cash ISAs over the years and have never had to pay any new money into the new account, unless I chose to do so - you are transferring more than £1 presumably?

You are not 'opening a new Cash ISA' (which involves paying in new money), you are making an ISA transfer.

I transferred a significant sum from two previous ISA managers to LTSB's 6.5% FRISA in March, with no new money being required, a friend also transferred from two previous ISA managers to Nationwide's 6.15% FRISA Bond in April, again with no new money being required.

knights

Baldur wrote: »

- you are transferring more than £1 presumably?

Yes - as my initial post I have about £47k to move, assuming I can better YBS.

regards

Baldur

knights wrote: »

Yes - as my initial post I have about £47k to move, assuming I can better YBS.

It was a rhetorical question......