From: "Wilson" 
Newsgroups: uk.finance
Subject: Re: How to transfer money from one ISA to another?
Date: 25 Mar 2005 07:11:03 -0800
   posting-account=Fx6I8A0AAABwL32yCTr888uQZRlA8urB


Ronald Raygun wrote:
> It also lists RBS's "Instant Access ISA" at 3.7% (eek)(*), but,
> interestingly enough, shows "Transfer In" as "No".  But "transfer
> out" is still "no penalty", and this means (unless moneysupermarket
> have got it wrong) that a transfer from RBS to Halifax should be
> possible, but not the other way round (which you wouldn't want to
> do anyway as RBS's rate is so bad).
>
> (*) Actually the 3.7% is for =A31 up.  This actually rises to 5.1% at
> =A315k, but below =A312k is still only 4.75%, whereas Halifax is 5.15%
> even for small balances.

That's why I'm switching, the RBS rates are bad even if you're on the
biggest interest tier for a large balance. It's actually a 60 day ISA,
so the rates are a little better, but if I can get more I would like
that.

I'm not sure I fully understand why banks would let you transfer your
ISA balance out like this voluntarily actually. I know you can, but if
they didn't have to, why would they want to make it easy for you to
send all your tax free saving to another bank?