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    • cheesetoast
    • By cheesetoast 19th May 17, 7:14 PM
    • 255Posts
    • 163Thanks
    Ford Regular Saver - ISA Rules at Maturity?
    • #1
    • 19th May 17, 7:14 PM
    Ford Regular Saver - ISA Rules at Maturity? 19th May 17 at 7:14 PM
    So... Ford are going to be doing this 4% regular saver ISA account. It got me thinking...

    What happens after the year, when the account matures?

    Let's say you open one on 22nd May 2017. You pay in 12 monthly instalments, from 1st June to 1st May 2018. The account matures on 22nd May 2018, and becomes a standard ISA paying a bum rate.

    What then?

    Because you've already contributed to an ISA in the 2018-19 year (your final instalment was on 1st May 2018), can you not close it and open another one? Surely they won't let you just "renew" it into a Regular Saver ISA again, because it'll have £3000 in there, and they'll want you to start it at zero?
Page 1
    • greenglide
    • By greenglide 19th May 17, 8:20 PM
    • 3,026 Posts
    • 1,960 Thanks
    • #2
    • 19th May 17, 8:20 PM
    • #2
    • 19th May 17, 8:20 PM
    It is a Split ISA,according to MSE so you can have their ongoing low rate product and a new regular saver for another year.

    Evenaturally you could then transfer out the whole low rate bit.
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