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New A&L Isa rate - 5.2% variable
tosh
Posts: 19 Forumite
Noted in another thread (Thanks Milarki)
A&L Direct ISA Issue 2 rates
£1+ Annual Gross:5.20% (variable)††
Rates effective from 09/01/06. †† Includes 0.70% bonus fixed until 30/04/07
30
Details Here
A&L Direct ISA Issue 2 rates
£1+ Annual Gross:5.20% (variable)††
Rates effective from 09/01/06. †† Includes 0.70% bonus fixed until 30/04/07
30
Details Here
0
Comments
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can someone please clarify this? is this an instant access isa which you have on line? what is bonus for? how do you get money out? do you have passbook etc?0
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You can find all answers here: Direct ISA and Direct ISA User Guide .
As usually, bonus is to attract new customers in the hope that most of them don't switch when offer expires ...0 -
I have £3,000 on 5% Halifax ISA account. Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA (I opened it just in case few minutes ago) or should I keep money where they are and use the new account for the next year allowance?
Thanks.0 -
3,000 x .002 = £6 more/year with A&L (assuming both rates stay the same for a year).angelica wrote:I have £3,000 on 5% Halifax ISA account. Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA (I opened it just in case few minutes ago) or should I keep money where they are and use the new account for the next year allowance?0 -
Transferring ISA is in fact very simple. Probably it is worth waiting till March when competition gets more tense ...angelica wrote:... Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA ...
:think: Why - if you have not decided yet?(I opened it just in case few minutes ago)
http://www.hmrc.gov.uk/leaflets/isa-factsheet.htm:Remember- you cannot open more than one Mini cash ISA, or more than one Mini stocks and shares ISA in the same tax year
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Wouldn't Angelica then have the opportunity of open another one in April'06? Or do you have to top one up with the £3000 before proceeding to the next one?
Taratataaaan!!!??0 -
As grumbler stated a person can have only one ISA account in the same tax year :rolleyes: , my understanding is that next April a new account can be opened if required/wanted.
In April I can transfer the existing savings to a completely new account, or leave this year savings where they are now and start new year savings from scratch using the new account, or can even switch to maxi ISA and buy shares for the whole allowance. A lot of choices
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angelica wrote:I have £3,000 on 5% Halifax ISA account. Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA (I opened it just in case few minutes ago) or should I keep money where they are and use the new account for the next year allowance?
Thanks.
No
1. They charge £25 for the transfer out (or used to?)
2. They are slow at transfering out.0
Probably because unconsciously I made a decision 
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