can I transfer existings ISAs

by , 3 months agoOpen Question

Answers (2)

Hi,

Yes.

You have to transfer your current tax year's ISA(s) in full but previous tax years' ISAs can be transferred in part or whole to any number of providers. Just make sure you transfer and don't close and re-open as the latter will invalidate the tax privileges.

by G-Man, 3 months ago

Hello Neil I have just looked into this for my mother. My understanding is this:
1 speak to your existing provider. They usually allow you to transfer your existing ISA pot however it may may not be the best rate they offer.
2 check out the ISAs avail using the Internet. Now is the best time. In Jan banks made their first offers. Now they are making better offers because it is getting nearer the end of year. It also takes a few weeks to transfer so don't leave til too late.
3 the other answer is right Do NOT close your account. If you find a better deal with another provider tell them you want to transfer in an existing ISA. They then do everything for you.
4 in my experience you do not have to transfer all your existing ISA and you certainly don't have to deposit next years ISA in one lump sum.
God luck

by pmscot93, 3 months ago

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