Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I know that you can only have one ISA per year, I've currently got some crap paying ISA with Standard Life which will soon be transferred to Barclays apparently (they bought their savings arm).
Been looking on the MSE website and I think I will be opening an ISA with Virgin/Northern Rock, a fixed term one for 1 year.
I don't know how much money I have in my old ISA (probably a few quid as I took a large chunk at least a year ago and forgot all about it), how exactly does this all work again.
1. Do I have to transfer my old ISA into a new one, and then open another ISA next month?
2. Can I just close my old ISA and open a new one today?
3. OR should I just close the old one and wait until April before opening the new one?
I'm assuming option 3 is best? 
[Edited on 26-03-2012 by Sam]
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Transfers between ISAs can be done whenever, it doesn't affect your ISA allowance.
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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So if I opened an account up today for example, would the interest rate only apply for the next few days (and then I'd have to open a new account somewhere else) or is it guaranteed for the next 12 months?
I'm going for a fixed rate ISA by the way not variable.
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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Have you paid anything into your ISA at all this year?
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by Sam
So if I opened an account up today for example, would the interest rate only apply for the next few days (and then I'd have to open a new account somewhere else) or is it guaranteed for the next 12 months?
I'm going for a fixed rate ISA by the way not variable.
I see what you mean.
Pretty sure those offers go on calendar years rather than financial years.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Calendar years, not financial years (unless stated otherwise)
[Edited on 26-03-2012 by AndyKent]
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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quote:
Originally posted by LiVe LeE
Have you paid anything into your ISA at all this year?
No I haven't paid anything into it this year.
quote:
Originally posted by James
Pretty sure those offers go on calendar years rather than financial years.
quote:
Originally posted by AndyKent
Calendar years, not financial years (unless started otherwise)
Thanks guys, will get it set up today then in that case! 
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