Mini cash ISA transfer

If you've invested in your mini cash ISA this year, you can't open a second one, it's become your mini cash ISA for this year.

It seems to transfer the Halifax expect you to open a New Mini ISA and transfer the previous years savings into it.

If you've invested in your mini cash ISA this year, you can't open a second one, it's become your mini cash ISA for this year.

It seems to transfer the Halifax expect you to open a New Mini ISA and transfer the previous years savings into it.

This doesn't make any sense to me.

I have recently transferred my ISA from one provider to another. The main change from the old days of TESSA transfers is that you no longer get a certificate to prove it was within a tax free account.

You first open your new account with your new provider (but do not close your old providers ISA account under any circumstances otherwise you lose the tax free status of the account) and then go to your old provider and instruct them to action the transfer to your new providers ISA account giving account no. details and leave the rest to them. Topping up above the 3k per annum is obviously disallowed but inter provider transfers are allowed.

Having said that...I don't know why you are going to the Halifax since they are offering 4.2% however you have to have a balance transfer of at least

The ISA Saver Direct with Halifax pays 5.0% .....

I think the problem is that you can't open two accounts in a year. I topped up my previous account, and so I have to wait until next year - now I'm trapped by low interest rates... :-(

I wonder whether the govenment's list of rules are posted somewhere? I haven't found it in google.

Think it's correct.......

From:

You have the right to transfer an ISA run by one manager to an ISA of the same type run by another manager. But ISA managers do not have to accept a transfer. Watch out for transfer charges."

I think this means you can transfer a previous tax year's ISA, but not the current tax year's

Jerry

Transferring shouldn't count, I think the bank staff must have been Mr A Cretin, who didn't know what he was doing, doubtless that means you will have to kick and scream until you get upgraded to dealing with Mr Half-a-brain-cell.

It will if the procedure is Open new account, THEN transfer. I have never seen a bank suggesting transfers be handled any other way.

I would be interested if Jeremy gets a definitive answer on this- I have been holding off investing in my ISA because

a) I intend to make a withdrawal, so money I never put in in the first place won't count b) I plan to transfer to Halifax, who are offering 5.1% on their direct ISA and about the biggest name in the cash ISA top 5.

Before I told them I had already invested in this year, they said that they could transfer it for me, if I gave them the details of my existing ISA.

I have transferred my ISA before, but that time I hadn't invested in that year. It also took about a month (thanks mainly to the incompetence of Lloyds TSB mostly who lost my cheques and identity checking documents), so I lost a fair chunk of interest. Halifax reckoned it would take a couple of weeks.

I paid the maximu, 3,000 into my Inteligent Finance cash ISA (now pays

I successfully transferred the whole ISA to Halifax ISA Saver Direct (paying

So no problem intransferring an ISA I had already contributed into this tax year, before the transfer.

Thanks for the helpful reply. I'll ring them up and ask for the transfer forms :-)