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Cash ISA transfer question?
If I have a few cash ISA accounts from previous years and this financial year, can I transfer all of these sums of money into a different cash ISA account this financial year or do I have to wait until 5th April 2011 to open a new ISA and THEN transfer the existing ISA cash into this account? The reason for asking is that as I have used up this year's allowance, I'm not sure if I can transfer my existing ISA cash into a new account this financial year that would pay a much better rate of interest.
3 Answers
- !Lv 71 decade agoFavorite Answer
You can normally transfer, but check the terms and conditions of the ISAs you have already to see if there are any restrictions.
- ?Lv 44 years ago
definite offered that the completed does no longer circulate over the ISA each year allowance. in certainty he would be able to maintain the entire allowance much less £a million. The transferred ISA does no longer determine in the each year allowance.
- Steve BLv 71 decade ago
EDIT - It appears you CAN transfer during the year - you have to ask you existing provider to transfer the funds direct to the new one.
Source(s): http://www.hmrc.gov.uk/ISA/faqs.htm#6
