ISA transfer question

I think the latter, but check with them. I've opened an ISA with the explicit aim of transferring in ISAs from elsewhere, and they new ISA provider has been happy to wait for the incoming transfers (and held the rates too!)

You should be able just to transfer the money in from B without investing any new money. When did you last invest in your existing ISA? If you have invested *this* Tax Year (i.e. since 6th April) you won't be able to put any new money into your new ISA, but you can still transfer the existing money. If it all relates to previous Tax Years, there's no problem - you can transfer *and* add new money if you wish.

It's entirely up to the provider. The Revenue rules allow it but the providers have their own product rules as well. Plus, make sure the provider that you are leaving also allows it and doesn't penalise you for doing so. Some do.

have their own product rules as well. Plus, make sure the provider that you are leaving also allows it and doesn't penalise you for doing so. Some do.

Not all providers allow transfers in. But of those which do, I haven't come across one which doesn't allow *just* a transfer without investing new money at the same time. Indeed, if you made the transfer in a year in which you had *already* invested in Provider B's ISA and included that latest investment in the transfer, you wouldn't be allowed by IR to invest in Provider A's ISA in the same year.

If you transfer your current year's investments, you can keep paying into the NEW provider's ISA in the same year (but not the old provider anymore)

you can only invest one provider per ISA type, but if you transfer the current year's investments they have to be transferred in full and it is as though you had always invested with the new provider.

As stated, it's OK with HMRC to open an ISA (and maybe even ISAs) and transfer 'old' money in from an existing ISA or ISAs (provided they are the same type of ISA, ie 'cash' or 'share'). This is completely independent from starting a new ISA with new money, or adding new money to an existing ongoing ISA (within the limits for the current tax year).

What I can't understand why any bank would want NOT to allow transfers-in, either from a different supplier or from its own ISA(s). Essentially, they are saying "No, we don't want your money. Take it to one of our competitors instead". To me, that seems a very strange way of doing business!

Because they have a loss leader interest rate for the first year?

In message , Ian Jackson writes

Nationwide allow transfers in to their 3.1% ISA, but not into the 4.25% ISA which is only available to Flexaccount customers with a certain monthly input to the Flexaccount.

I suppose it's some kind of 'loyalty' reward. ;-)

NatWest have been and still are offering a bonus on ISA transfers in, compared to new ISA cash, on their 2 and 3 year fixed rate ISA.