Transfer Cash ISAs Discussion Area

A question about : Transfer Cash ISAs Discussion Area

Just like to point out a problem with your Icesave's top paying ISA. Looks like the interest has to be drawn iether monthly or yearly, so if this being the case anyone transfering a large ISA and having to draw the interest and not being allowed to compound would mean the yearly ISA allowance plus compounded interest would be drastically reduced!

Best answers:

• Just like to point out a problem with your Icesave's top paying ISA. Looks like the interest has to be drawn iether monthly or yearly, so if this being the case anyone transfering a large ISA and having to draw the interest and not being allowed to compound would mean the yearly ISA allowance plus compounded interest would be drastically reduced!
• I'd like to point out another problem with transferring to Icesave's top paying ISA.
  You can only transfer current ISA's from the following companies - NatWest, Halifax, HSBC, LloydsTSB, Barclays or Nationwide.
  If your ISA isn't with one of these companies you can forget it!
  They also have to be variable rate ISA's or the same applies.
  We have ISA's with Bradford & Bingley so we can't take advantage of this offer. Are there any other Banks out there we can transfer these to for a higher rate of interest?
• Hiya, can anyone tells me what happens to your interest when you transfer out of an account? My ISA currently only pays the interest at the end of the financial year, would this be recalculated and paid out as part of the transfer?
  Can I just check that you can transfer out this financial year, or should I wait until April and just do it next year?
  Thanks,
• I had the feeling that I had to keep my current isa's until the end of the tax year to qualify for a whole year's interest. But looking at my pass book, it says interest is added 30th November. I want to transfer them from Northern Rock to Icesave (I also have a savings acc. with Icesave) and have noted the tips on the best way of doing this. But just to clarify, should I send the passbook to NR for them to update the interest and am I correct in thinking that I can transfer now without losing any interest?
• I have a Platinum Plus ISA from CIS. I pay in Ј30 a month but just found out it is only paying interest of 2.5%. I rang them today and they said I could not transfer it only cash it in. Is this right?:confused:
• I have just been looking into transfering my ISA from the Halifax to Icesave but I can only find information about fixed rate ISA Saver account charges.
  I quote "
  Although it's best to leave a fixed rate Halifax ISA Saver open until the end of the fixed term, you can close your account or transfer out to another ISA Manager. However, you will lose an amount equal to 180 days' interest, calculated on the rate at which interest is paid on your account."
  Any ideas? Or has anyone else transfered from Halifax?
  Jon
• To the question:
  Who can open an Easy Access ISA? it says:
  To open an Icesave Easy Access ISA you must:
  - Have not contributed to, or opened another, Mini Cash ISA or Maxi ISA during this tax year
  I imagine many people will have already contributed to an ISA this tax year so will not be eligible to open an Icesave ISA?
• The FAQs on the website answer many of these questions:
• Do you accept transfers in from other providers into the Easy Access ISA? Yes you can transfer in Mini Cash ISAs held with other providers into the Icesave Easy Access ISA. You can choose to make a transfer in as part of your application or, once your account is open, simply log in and select the option to make a transfer-in to your Easy Access ISA.
  Transfers in from other providers do not count towards your annual subscription limit. There is no restriction to the number of providers you can transfer-in from.
• I opened my first ISA with NSI in July 07 with the full 3k allowed. Can I transfer this 3k, plus interest, into the higher rate Icesave ISA now, and then on April 5th 2008 put another Ј3,600 into the same ISA? :confused:
• I have tried to do a transfer in registration, as I already have an ISA this year and an ISA with a third bank from 2 and 3 years ago. I answered the question have you registered an ISA this year as yes, and would I like to transfer an ISA from another bank as yes.
  At the end of the registration before it is complete I am asked to agree to this:
  I declare that
• I have not subscribed, and will not subscribe, to a maxi ISA or to another cash mini ISA in the same year that I subscribe to this mini ISA

I cannot declare that, as I have already opened another ISA this year. I thought you could open another ISA in the same year if it is funded not through new cash, but through previous years contributions. However they are asking me to make this declaration on a transfer-in ISA too. Has anyone else been getting this?

• Teh other thing I noticed during the application is that you are subscribing for this year, and future years unless cancelled. In future years, do you have to put money in to this one, or can you keep it open and invest in another ISA elswhere?