VMax:

Transfer your ISA to Abbey they are currently offering 3% also its part of the Santander group so it should be safe.

Just make sure you go through the transfer process with Abbey, dont just withdraw the cash or you will lose the isa account.

Feedback on this site says that Abbey are often a nightmare at managing the administration around ISAs. Although the feedback is not uniformly bad, it was enough to put me off the product.

Transfer your ISA to Abbey they are currently offering 3% also its part of the Santander group so it should be safe.

Just make sure you go through the transfer process with Abbey, dont just withdraw the cash or you will lose the isa account.

If you are happy with First Direct, you should stay with them. Trying to get a few extra pounds by doing something complicated is likely to work against you.

So in summary:

I have to find a provider that's offering transfers in, and stay with them at least a year, before I can go back to my preferred provider (First Direct).

Is that the long and short of it?

laertes:

I am wondering if I can transfer my existing holdings to a new supplier, closing my current ISA, and then transfer it back in as if I was a new ISA customer.

I doubt that you could do that and still only open one ISA in the year, even if the provider was happy with what you were doing. Remember too that It's quite possible that the promotion that's advertised today wont be on offer in a couple of months when you'd be wanting to put the money back in.

I am in a similar position. You can transfer your ISA to another supplier with a better rate, as long as that ISA allows transfers and you do it via their transfer process rather than by closing your ISA first.

The 3.10% rate is not open to existing ISA holders with firstdirect. But you can transfer from an ISA held with another supplier. I am wondering if I can transfer my existing holdings to a new supplier, closing my current ISA, and then transfer it back in as if I was a new ISA customer.

If you close the ISA you will lose the tax free status and you can only put £3600 into a cash ISA each year. However, as your £11k is already inside an ISA you can transfer it to any other ISA that is taking tranafers. The "money" tab at the top will help compare what is on offer. You should arrange the transfer through the recieving bank to avoid any misunderstandings that could lead to the money coming out of an ISA.

Hi, I currently have a First Direct cash e-ISA, which is unsurprisingly performing crap these days. (0.2%). It's got about 11k in it, but I havn't anything into it for this financial year.

Can I get a better deal? Am I allowed to? I know there are rules as to how much you can invest and how many ISAs you have etc.

I ideally want to keep all my money in the same place (i.e. with First Direct), as I look to see all my cash in their respective accounts (I also bank with FD, and have my tracker offset mortgage with them, as they are generally a very good bank).

I notice that First Direct are offering "3.10% AER (3.06% tax-free) fixed until 31 May 2010 then 0.20% AER (0.20% tax-free) variable thereafter".

Am I precluded from this because I already have a cash ISA? Are there any tricks? (move the money to my savings account, close the ISA,open a new one????)

I am conscious that this is a very large amount of money thats under performing, and I want it to do more for me...

Thanks in advance for any advice...