Clydesdale 40 day cash ISA
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same here! The only advantage I can see is that it will become a flexible ISA where your money can be withdrawn and replaced without losing its tax-free status.
Hello there,
In same situation with 75k, I haven't got the letter in front of me but doesn't the new easy access cash of 06.03.17 become flexible until 06.04.17 which mean you can not move your money out for another month @ 0.50% ?
That's what I understood.
Any clarification is appreciated. Thanks Moira0 -
My transfer has been initiated and is in the pipeline.. Not taking the hit.Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0
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Hello there,
In same situation with 75k, I haven't got the letter in front of me but doesn't the new easy access cash of 06.03.17 become flexible until 06.04.17 which mean you can not move your money out for another month @ 0.50% ?
That's what I understood.
Any clarification is appreciated. Thanks Moira
See http://www.ybonline.co.uk/personal/savings/tax-efficient-savings/
If you have a 40 Day Notice ISA and wish to transfer your ISA to another provider, we will waive the notice period and penalty fee until you migrate to the Instant Access ISA on 6th March 2017.
It will become "flexible" on 6 April but why would you want to stick with ii at the interest rate offered?0 -
I have today applied for a flexible cash ISA with Newcastle BS @ 0.80% by transferring whole amount from Clydesdale (currently @ 1.25% - soon to be @ 0.50% on 06.03.17).
Once the funds are received in new account, I will withdraw most of it to go to my RCI savings account @ 1.10% then I will put it back before end of tax year into Newcastle and do same thing again on 06.04.17.
There are better rates with other instant access ISA providers but they are not flexible ISAs and they do not pay more than RCI.0 -
Is anybody experiencing problems in trying to transfer their 40 Day Cash ISA from Clydesdale? They state that they will waiver the 40 day notice and then impose it when the new provider tries to access funds. Frustrating to say the least!0
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Is anybody experiencing problems in trying to transfer their 40 Day Cash ISA from Clydesdale? They state that they will waiver the 40 day notice and then impose it when the new provider tries to access funds. Frustrating to say the least!
I transferred my ISA from Clydesdale to Nationwide last week no problem. I was also pleasantly surprised to find it only took 5 working days mind you I did use Nationwides on line transfer system.0 -
Ditto. My letter from NW saying 'wheels were in motion' arrived the same day the money appeared in my internet banking. I also 'switched' last month from them painlessly.
Been a customer of Clydesdale since 1975 but heyho....The highest form of ignorance is when you reject something you don't know anything about.
Wayne Dyer0 -
Is anybody experiencing problems in trying to transfer their 40 Day Cash ISA from Clydesdale? They state that they will waiver the 40 day notice and then impose it when the new provider tries to access funds. Frustrating to say the least!
Yes!
Apparently they aren't releasing the money until 27 March :eek::mad: (maybe that's the date for mine)
Interest rate drops on Monday0 -
I'm transferring mine to Barclays - stated on their online form "no notice period", but according to Yorkshire Bank, there was no request for an immediate transfer, so they slapped a 40 day notice on it.
It appears that incoming requests come in 3 forms:
1) Transfer on date X
2) Please transfer the ISA
3) Please transfer the ISA now
Type 1 comes from any provider where you've told them to respect any notice period.
Type 2 and Type 3 both apply where an ASAP transfer is requested, and it depends on what the receiving provider sends to the current ISA provider.
It appears that Yorkshire are accidentally-on-purpose treating all type 2 requests as if they are 40 day notice requests.
When I complained about this, and demanded "process it ASAP" I was offered 3 options:
1) If you ask, we'll send an internal email to (whatever) department and they will process it in 15 calendar days.
2) Ask Barclays to cancel the request and try again, asking for no notice.
3) Ask Barclays to cancel the request and try again after the account has gone "no notice"
IMHO Yorkshire Bank are a bunch of bumbling buffoons, who have just joined Scottishpower on the "never again" list.0 -
Maybe they are surprised about the amount of money leaving them and are having to take steps.0
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