Tessa Only ISA transfer to Cash Mini ISA?

MiserlyMartin · 5 March 2006 at 9:52PM

Does anyone know if a Tessa Only ISA can be transferred into a Cash Mini ISA wrapper, or does it have to stay as a TESSA only ISA with a new provider?

alared · 6 March 2006 at 9:53AM

Some providers allow it and some don`t,you`ll just have to check with the one you choose.

isasmurf · 6 March 2006 at 10:15PM

TESSA only ISA are recognised by HMRC as cash ISAs and can therefore be transferred as any other Cash ISA can.

In fact, your TESSA only ISA lost its TESSA only status at the end of the tax year in which you opened it.

Any bank that accepts transfers into its Cash ISA should accept a transfer from a TESSA only ISA into its cash ISA.

Deemy · 8 March 2006 at 4:15AM

Yeh most providers will allow you to transfer your ISA, the ones that don't have thick staff that don't understand the banks products !

MiserlyMartin · 10 March 2006 at 8:42PM

Thats true. Today I spoke to a customer advisor at the Bedford Branch of Norwich & Peterborough Building Society. I asked if they allow partial transfers of an ISA to another provider. He advised me to come into the branch and withdraw the money via a cheque!!

Doh! After explaining that I would loose my tax free status he went and asked somebody. For those who are interested - they don't allow partial transfers.

Tessa Only ISA transfer to Cash Mini ISA?

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