Transfering An Isa

[kloofnek]

I want to transfer my ISA from one Building Society to another.

On looking at the website of the one I wish to transfer to .

When it says "from one provider to another" this does mean another BS or Bank to the one I now want my ISA to be with?

I know this makes me sound a bit stupid but some of the jargon can confuse one.

[VHG]

You need to check with the bank if they will accept transfers IN from other banks ISAs, some do some don't.

The wording above sounds like they WILL, but maybe only for specific ISAs or at specific times of the year or specific amounts of money.

Whatever you do DONT take the money out the other ISA yourself, let the bank organize it.

If YOU take it out then it loses the ISA "protection" and will country towards THIS YEARS ISA allowance.

If the bank transfer it then it keeps its "ISA protection" and counts towards your previous years ISA.

[pixie373]

Yes and yes, they don't make it straightforward in their explanation. I went to the bank i wanted to transfer mine to and they sorted it out from there.

[pixie373]

VHG is right. Make sure it is transferred directly. Not withdrawn and then paid in somewhere else.

[SlackAlice]

I would read that as from your existing ISA Holder to a new ISA Holder. Your looking at 'Transfers In' I assume?

[kloofnek]

Yes ,transfers in,I this to Nationwide by the way.