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New Direct ISA with A&L

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  • hansi
    hansi Posts: 3,001 Forumite
    Part of the Furniture 1,000 Posts
    That is correct!
  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Exactly. Withdrawing is easy - you close the account, they send you a cheque.

    Transferring out is a bit more hassle for them - you close the account, they send the money to another institution with associated paperwork confirming that it's from another ISA account. So they charge more (£25 instead of nothing).
  • Paul_Herring
    Paul_Herring Posts: 7,482 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    MarkyMarkD wrote:
    Transferring out is a bit more hassle for them - you close the account, they send the money to another institution with associated paperwork confirming that it's from another ISA account. So they charge more (£25 instead of nothing).
    This sounds suspiciously like the £25 that CC companies charge for going over limts/missing payments to cover "paperwork."

    Though thankfully, not all ISA providers are like all CC providers - not all ISA's attract a fees for certain circumstances.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
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