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How to use Icesave ISA certificate?
marancat
Posts: 17 Forumite
Hello.
My ISA certificate arrived today. The money is already in my bank account.
I am not sure what to do now - obviously I need to transfer the money into another ISA asap and want to do this online.
I don't really want to transfer the money into an existing ISA as I may be able to get a better rate elsewhere.
Has anyone done this and if so, could you please let me know how it works?
Thank you.
My ISA certificate arrived today. The money is already in my bank account.
I am not sure what to do now - obviously I need to transfer the money into another ISA asap and want to do this online.
I don't really want to transfer the money into an existing ISA as I may be able to get a better rate elsewhere.
Has anyone done this and if so, could you please let me know how it works?
Thank you.
0
Comments
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It will vary between ISA providers, but you essentially tell them you want to open an ISA to transfer your Icesave ISA into. Later on, you will have to write them a cheque for the money and give them your certificate.
Here's the HMRC's guidance note to ISA providers http://www.hmrc.gov.uk/ISA/bulletin6-2008.htm0 -
I had opened an ISA with RBS whilst waiting for the money and certificate. Received the money about two weeks ago, and the certificate on Monday. Transferred my money from a savings account to my RBS current account on Monday and posted the certificate, an ISA transfer form, and a covering letter to RBS same day. Money is in my RBS ISA account as of this morning. I am well impressed with how both, the FSCS and RBS, handled the matter.0
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What Im not sure of though is that I have applied for a new ISA account as I no longer have an ISA(previously my ICESAVE) to transfer from, just funds to transfer.However some people are saying transfer forms and other new a ISA.Im noty sure many of the banks are too sure either.0
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A new Cash ISA account, to receive the transferred funds, is opened as part of the transfer process - if you don't already have a suitable account into which the funds can be transferred.What Im not sure of though is that I have applied for a new ISA account as I no longer have an ISA(previously my ICESAVE) to transfer from, just funds to transfer.However some people are saying transfer forms and other new a ISA.Im noty sure many of the banks are too sure either.0 -
So I wouldve been correct in applying for a new ISA account then?0
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Yes, but make it clear you will be funding it via a transfer in from an existing ISA.0
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Icesave cash was received about 2 weeks ago & in the meantime i'd applied for new ISA's (me & OH).
i had confirmation last week that our Scottish Widows ISA's were open.
(some people had been told it was ok to fund them at the time of opening, but i'd been told to wait for the certificate. just part of the all too well known 'bank confusion' that seems abound at the moment!)
anyway, our certificates have come this morning so i've taken a copy for our records & the originals will be winging there way to SW with a covering letter -
"these are our 2 ISA a/c details, both to be funded with Icesave transfers, certificates enclosed, 1 bacs payment done today & 1 cheque enclosed".
hey presto - all done! (i'm hoping
) 0 -
Mine has just arrived as well and had a Halifax fixed account open awaiting it. I have just phoned them up and it was suggested that I take it into my local branch who would scan it in then could take the funds straight from my account....
Anybody else opened a Halifax fixed ISA and what process have you used ?"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts."
Bertrand Russell. British author, mathematician, & philosopher (1872 - 1970)0 -
Opened halifax fixed ISA @4% today in branch. Just took in my Icesave certificate and paid in a cheque for the amount. Wife has not received her certificate yet but was able to open her ISA at the current rate and just has to post the certificate when she gets it. ISA interest backdates to today when she applied.
Very straight forward process. Pity the rate are so cr*p!0 -
Just got my certificate today. I might try my hand at Halifax-Branch Lottery again tomorrow morning...0
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