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Aldermore 3.2% 1 Year Fixed Rate ISA?
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# 1
BulletCraig
Old 05-02-2012, 10:38 PM
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Question Aldermore 3.2% 1 Year Fixed Rate ISA?

Is there a reason the Aldermore 1 Year Fixed Rate ISA is included in the Transfer Old ISA section but not the Top Cash ISA section? I'm looking to transfer a partial balance from my current ISA account (the amount being transferred all being from previous tax years) into the Aldermore 1 Year Fixed Rate account and then at the start of the next tax year transfer the remaining balance to the Virgin 2.85% ISA and use that as my 2012/2013 ISA. Just got a bit confused when looking at the Cash/Transfer pages and noticed the Aldermore one only appeared on one.
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# 2
BulletCraig
Old 05-02-2012, 11:08 PM
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Also having a bit of trouble during the application process. I seem to be right at the final stage and it hasn't even mentioned any option to transfer old ISA's. Instead it's presented me with the following:

Quote:
Declarations

I apply to subscribe for a Cash ISA for the tax year 2011/2012 and each subsequent tax years. This declaration does not lock you in to a Cash ISA with Aldermore. You have the choice to place your subsequent years' Cash ISA subscriptions with us without making a further declaration, or alternatively, you can place them with another provider.
I authorise Aldermore:
  1. To hold my cash subscription, ISA investments, interest, dividends and any other rights or proceeds in respect of those investments and any other cash.
  2. To make on my behalf any claims to relief from tax in respect of ISA investments.
I declare that:
  1. All subscriptions made, and to be made, belong to me.
  2. I am 18 years of age or older.
  3. I have not subscribed, and will not subscribe, more than the overall subscription limit in total to a cash ISA and Stocks and Shares ISA in the same tax year;
  4. I have not subscribed and will not subscribe more than the cash ISA subscription limit to one cash ISA.
  5. I have not subscribed, and will not subscribe, to another Cash ISA in the same tax year that I subscribe to this Cash ISA; and
  6. I am resident and ordinarily resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or I am married to, or in a civil partnership with, a person who performs such duties. I will inform Aldermore if I cease to be so.
  7. I declare that this application form has been completed to the best of my knowledge and belief.
Now obviously I already have an ISA that I've been using this year so I don't want to (and can't) open a new one. I only want to open this one to transfer some of the previous years balance into it so I don't want to click the "accept" button in case is causes problems.

Any advice anyone?
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# 3
blueberrypie
Old 06-02-2012, 6:41 AM
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Quote:
Originally Posted by BulletCraig View Post
Now obviously I already have an ISA that I've been using this year so I don't want to (and can't) open a new one. I only want to open this one to transfer some of the previous years balance into it so I don't want to click the "accept" button in case is causes problems.

Any advice anyone?
If you aren't putting any new funds into this ISA, you're not "subscribing" to it - "subscribing" means adding new funds (i.e. funds not already in an ISA). So go ahead and agree to these terms - there's no problem. (It's standard wording, by the way - this question comes up regularly.)
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# 4
Aldermore - Michelle
Old 06-02-2012, 10:05 AM
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Hi Bullet Craig

If you would like to transfer your current ISA from another provider to us then you are OK to proceed with submitting your application by clicking the "accept" button.

You will also need to send us a completed ISA transfer form for each ISA you wish to transfer to Aldermore. You will find this form within the Literature & Downloads section of our Savings website and send these to us at the following address:

Freepost RSAZ-AXXH-LHAX, Aldermore, PO Box 762, Wallsend, NE28 5DH.

If we can be of any further help please contact us on 0845 604 2678 or service@aldermoresavings.co.uk and we will be happy to help you.

Kind regards,
Michelle
Aldermore Customer Services Team
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# 5
foreversummer
Old 06-02-2012, 4:19 PM
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Hi Michelle.

I wonder if I can ask a question as I've been looking at your ISA.

If I transfer a balance from another ISA now, will I be able to add my allowance for 2012/2013 to it in April? Your terms seem to say that once you've made your initial deposit no further funds can be added.

Would much appreciate your clarification.

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# 6
Aldermore - Michelle
Old 06-02-2012, 4:48 PM
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Hi Foreversummer

If you was to open one of our Fixed Rate ISA's today and fund this by transferring an ISA from another provider you wouldn’t be able to add money to this account in the new tax year. Our Fixed Rate ISA’s permit one deposit at the point of account opening. However if you apply for the Fixed Rate ISA in the new tax year you could then deposit your allowance for that year and provided you gave us your ISA transfer requests at the same time using our ISA transfer forms we would be able to deposit all of these amounts into the same account for you.

Another option would be our 30 Day ISA, this account allows you to pay in as many deposits as and when you like.

I hope this helps, however if you have any further questions then we will be only too happy to help. You can contact us on 0845 604 2678 or at service@aldermoresavings.co.uk

Kind regards, Michelle
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# 7
Gordon the Moron
Old 06-02-2012, 5:02 PM
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Alternatively you could wait until April and transfer both this current tax year's ISA plus next year's allowance into one fixed rate ISA (the Aldermore one if it still available or another top pick)

Rather than going for the 30 day notice cash ISA paying 2.65% you could go for the Virgin Money one paying 2.85% with instant access.
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# 8
foreversummer
Old 06-02-2012, 5:14 PM
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Thank you both for your replies.

Obviously looking for the best rates possible. Current ISAs already in Barclays Golden ISA paying 3.20% until April. Might wait and see what becomes available nearer the time.

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# 9
BulletCraig
Old 11-02-2012, 4:30 PM
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Quote:
Originally Posted by Aldermore - Michelle View Post
Hi Bullet Craig

If you would like to transfer your current ISA from another provider to us then you are OK to proceed with submitting your application by clicking the "accept" button.

You will also need to send us a completed ISA transfer form for each ISA you wish to transfer to Aldermore. You will find this form within the Literature & Downloads section of our Savings website and send these to us at the following address:

Freepost RSAZ-AXXH-LHAX, Aldermore, PO Box 762, Wallsend, NE28 5DH.

If we can be of any further help please contact us on 0845 604 2678 or service@aldermoresavings.co.uk and we will be happy to help you.

Kind regards,
Michelle
Aldermore Customer Services Team
Hi,

Thanks for the help. The account is now fully open and I can login online. I was about to complete the transfer form but when I went into the information section about my account I got the following screen saying the interest rate is only 0.5%?? Am I missing something?

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# 10
abarthman
Old 12-02-2012, 7:53 PM
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Have you got more than £1000 in the account yet?

http://www.aldermore.co.uk/personal/...ate-cash-isas/



Things you need to know

  • You should keep at least £1,000 in your account at any one time (a gross interest rate of 0.50% will be paid on balances below this amount)
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# 11
BulletCraig
Old 12-02-2012, 8:22 PM
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Quote:
Originally Posted by abarthman View Post
Have you got more than £1000 in the account yet?

http://www.aldermore.co.uk/personal/...ate-cash-isas/



Things you need to know

  • You should keep at least £1,000 in your account at any one time (a gross interest rate of 0.50% will be paid on balances below this amount)
Ahh that explains it! I don't have anything in the account as of yet but will be transferring more than £1k in from old ISA's so I should be fine. Thanks.
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