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ISA - Transfer into new ISA, how does this work? re Yearly Limit

4 replies

JeMeSouviens · 25/04/2009 22:36

So imagine I have 6k in an ISA and they are paying a measly 0.5% interest this year. I have deposited 1k so far this year leaving me 2.6k of my allowance to go.

If I transfer my account to another bank is my allowance used up, or do they take into acct only the 1k I've saved this year, enabling me to still put the remaining 2.6k into it?

TIA

OP posts:
ChasingSquirrels · 25/04/2009 22:39

you can transfer the ISA and get the full annual limit (ie you can put the remaining 2.6k in).

You can't just open another ISA and put the remaining £2.6k in that.

ChasingSquirrels · 25/04/2009 22:40

but try calling and asking if you are on the best possible rate they have.

JeMeSouviens · 25/04/2009 22:42

Thanks chasing, I will contact my current bank too as according to money supermarket they're offering 3%!

OP posts:
ChasingSquirrels · 25/04/2009 22:43

my abbey one was shite, I called them and they transfered it to their best one.

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