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Anyone sticking with NatWest e-ISA (acc opened before 14 May 09)
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my guess is that it will reduce some time soon, ours are in the process of transferring to M&S 4%. Suggest its worth keeping a close watch on the NW eISA rate.
Thanks
but that means for this tax year 2010/11
Ill continue my Natwest e-isa until the rate drops
However as I would have subscribed effectively to this ISA for this year
I shouldntt really stop it? as it will affect my interest for this tax year? no?
If Natwest decide to drop the rate? WIll i not have already contributed to this years ISA?? SO i cant open another??
HELP lol0 -
Thanks
but that means for this tax year 2010/11
Ill continue my Natwest e-isa until the rate drops
However as I would have subscribed effectively to this ISA for this year
I shouldntt really stop it? as it will affect my interest for this tax year? no?
If Natwest decide to drop the rate? WIll i not have already contributed to this years ISA?? SO i cant open another??
HELP lol
If Natwest drop the rate after you have contributed this tax year, you will still be able to open another ISA and transfer your NatWest money into it (if the new ISA provider allows transfers in). The only restriction is that your total contributions cannot be above £5100 in a tax year (but this does not include transferred funds).0 -
If Natwest drop the rate after you have contributed this tax year, you will still be able to open another ISA and transfer your NatWest money into it (if the new ISA provider allows transfers in). The only restriction is that your total contributions cannot be above £5100 in a tax year (but this does not include transferred funds).[/QUOTE
brilliant
you learn somethign new (isa-wise) every day lol
wasnt aware a provider change can be done whilst contributing to one. etc0 -
If Natwest drop the rate after you have contributed this tax year, you will still be able to open another ISA and transfer your NatWest money into it (if the new ISA provider allows transfers in). The only restriction is that your total contributions cannot be above £5100 in a tax year (but this does not include transferred funds).
I don't think that's strictly true.
I thought that you could only subscribe to one Cash ISA per year. Therefore if you were to transfer to another ISA, and this years contributions to the NatWest ISA had been less that £5100, you wouldn't be able to add any further new funds, until the next year, regardless of the fact you haven't reached your limit (that's my understanding of it at least)...0 -
What mtc95 said is correct, as long as you:
(1) Transfer ALL the contributions made in the current tax year from Natwest to the new provider, and THEN
(2) Add in any amount, up to your annual allowance, into the new ISA.0 -
I'm sticking with my Nat West ISA and transferring in some other low-yielding ISAs from other providers although my 2010/11 ISA is being placed elsewhere. I spoke to Nat West and they directed me to their website where the transfer form can be filled in on screen and then printed and posted to them - shame it can't actually be submitted online. My query however is there is nowhere on the form (NWB45254) to give the details of your existing 2009/10 ISA account number so how do they link the funds tranferring in, to you. I went to my local branch as well as made a call to them and they both agreed that you do not have to show you existing Nat West ISA account number. When I asked how they connect it all, they didn't really have an answer but assumed it was done using the name and National Insurance number. This seems a rather "loose" arrangement and I only hope it works. Does anyone else have experience of this?0
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Yes, I had exactly the same question in the branch - and the same reply! Although to make sure they were connected the cashier suggested I wrote my account number and sort code at the top of the form.
We will see what happens, but the NI number is personal so its pretty easy to match up the accounts in this way.BTW, I am not a "lazysaver" anymore - bit of a daft username really
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My query however is there is nowhere on the form (NWB45254) to give the details of your existing 2009/10 ISA account number so how do they link the funds tranferring in, to you.
Does anyone else have experience of this?
Yes (around this time last year) , and I got the same answer. I must admit I didn't trust them and wrote my ISA account number in a bit of blank space on the form to be on the safe side before I posted it off. I can confirm that the transferred funds did successfully reach the account.0 -
Hi I'm hoping someone can confirm my logic, or at least let me know if they'll be sticking (and re-subscribing) with their NatWest e-ISAs.
The old NatWest e-ISA (opened on or before 14 May 2009) seems to still pay pretty good rates of
£0-9,999 - 2.75%
£10,0000-29,999 - 3.01%
> £30,000 - 3.26%
(Source)
Is anyone planning to use their (above pre 14 May 09) e-ISA to pay this years allowance into?
I'm sticking with my NatWest e-Isa opened before 14May09 for now. In fact I've also just transferred in a matured Nationwide Fixed Rate Isa as they could only offer 2.75% to fix for another year, and I don't want to fix for any longer in the present financial climate. By combining all my old ISA funds into the Natwest e-Isa I reach the 3.26% tier. Due to a change in personal circumstances I'm not able to subscribe anything for the 2010/11 yet, but if I had any spare money I would probably just stick with NatWest for now.
Several people have mentioned that the introductory bonus has expired or is about to, but I don't recall there being any mention of a bonus when I opened the account. It was just a variable rate with tiered interest based upon the amount in the account. For those of us opening accounts before 14May09 I think the rate has just dropped the once - in December 09.
Torchie/lazysaver - don't worry that the isa transfer form doesn't ask for your e-Isa account number - I've now transferred 3 times into this account, the most recent in the last month, and all the funds have transferred ok. The most recent from Nationwide to Natwest has taken exactly a month.0 -
As far as im aware theres no introductory rate which is about to expire...
Already added my 5100 to it for this year...0
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