Sparx, the Barclays golden Isa does not accept transfers while the Natwest E-ISA requires you subscribe to their ISA before transferring your money. Therefore you can't subscribe to Barclays and transfer your old ISA to Natwest at the same time.

I believe you wanted to do this to maximise the interest as Barclays is offering the most competitive rate at the moment (3.61). However, you should take into account that if you put everything in one pot with Natwest and the total is >10K, the rate you get is higher (AER 3.51%). This was my case and I moved everything to Natwest as all the other combinations (Barclays golden ISA + old ISA somewhere else) appeared to be less appealing.


K

Not all ISAs will accept transfers, so be careful

Yes. You can either start a new ISA with NatWest or with Barclays this year, but not both. You can usually transfer your existing ISA money into any ISA that you have - new or old.

Yes. What your intending is fine.

You may only open one ISA account in any financial year is my understanding.

Best of luck

If you open a Natwest e-isa and fill out the online transfer form the transfer will all be taken care of for you. The funds will be sent from your current ISA provider to Natwest.

Having paid into the old isa in this tax year will make no difference and any remaining subscription should remain unaffected.

It worries me that you have said "can I now transfer the balance to a Nat West e- ISA and open a new Barclays Golden cash ISA?" You cannot operate 2 Isa's in any one tax year. Had you not have paid into your old ISA this tax year then yes, you would have been able to

However, as the subscription has already been started and would be included in your transfer balance it would not be permitted to have another ISA account.

Thanks for your help. I do not already have a Nat West ISA opened so I presume that that I will have to keep the money where it is for this financial year. Is it ok to open a new Barclays Golden ISA

Yes. As long as you already have a NatWest ISA and as long as they will do the transfer.

I paid into my existing Alliance & leicester cash ISA on 5th April this year, can I now transfer the balance to a Nat West e- ISA and open a new Barclays Golden cash ISA?