Thank you both very much,

Yes - I'd noticed that little "pitfall" with the Natwest account as well and wondered if I'd actually read it correctly.

Ok - so get the bank to transfer the old ISA into the new then, and watch out for the small print. That's fantastic advice and I'm certainly glad I came to this site for help. I'll certainly be hanging around and learning (and helping with other topics if I can).

Dave.

Remember, also, that some ISA providers do not allow transfers in so choose your new provider carefully.

Also, be careful if choosing NATWEST as they have accounts that pay only the advertised interest rate after holding your money for 4-6 weeks. This effectively reduces the advertised rate by about 10% from the day you hand over your money. It is underhand and I think Natwest is the only provider that cheats this way. However, they do tell you in the small print, so beware.

Yes you can open a new I.S.A. in April & when youwant to reinvest the existing I.S.A.at a later date ie transfer the money that`s ok too.

P.s don`t forget to let your chosen provider transfer the money you can`t do it yourself

Hi everyone, I'm new here - please be gentle :)

I have a question which is puzzling me slightly. Let me explain the situation.

In the current tax year (2011-2012), I opened my first ISA. I actually did this in September when I received a sum of money from a grandparent's will. I got a rate of around 3%, which I know expires at the end of the year, and I used the full allowance for cash ISAs of £5340.

In the NEXT tax year (2012-2013), I'm planning on investing the full allowance again and this will be into a different bank's ISA as the introductory rate on last years will expire.

So my question is, can I open the new ISA in April, with next years allowance, and then once paid the yearly interest on my existing account, can that be transferred in some 5 months after the new one was opened, or does it all have to be done at the time of opening (in which case I may miss the best deals for the new financial year)?

Sorry if I'm being stupid, but I'd rather ask than lose out!

Cheers everyone.

Dave.