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ISAs & tax-free savings

Archives for May 2011

Simple question: ISA or savings account?!
Hi all I am a newbie but I know I am about to probably post one of the most simple and commonly asked questions...where do I keep my savings?! I have a current account and I like to store my money in a savings account (ING) and some in an ISA. Which of these (and little money ever gets removed from either, and both are…
Halifax - nightmare trying to open ISA Direct Reward
Hi all I've been trying to open a Halifax Direct Reward since the 7th of April. I want to use it to transfer in my allowance from last year. Halifax seem to me to be too incompetent to open this account for me. Here is a quick summary: 7/4/11: I open ISA Direct Reward over the phone, am given account number and sort code.…
Can someone help me with ISA's please?
I have read through the 'Banking Saving' page on the main MSE site, but I'm still a tad confused :o My husband opened up a Post Office ISA account some time last year and all that was put in there was £5 - never got round to saving. Anyway, we are wanting to actually use it now, but I've read about them only being for a…
Santander ISA One Time Passcode
Can anyone help me with this? I don't know why I do this to myself, getting involved with Santander when I know perfectly well how incompetent they are. I'm trying to set up the OTP thing which allows you to withdraw money from your ISA (simple thing really, not much to ask is it?) I've tried setting it up several times…
Nationwide ISA - card account needed
I want to open the Nationwide isa at 3.1% but it mentions you need a card account which I am fine to do. However do I need to fund this card account or make an initial deposit to qualify for the isa?
ISA Help
I opened an HBOS Direct Reward ISA last tax year and without thinking I paid into it again this year, not realising how rubbish the rate was (0.5%). Am I stuck with this ISA for the rest of the year or can I transfer it? Thanks
Will Nationwide e-isa swop lose bonus?
Have an e-isa with a 1% bonus until 30 June 2011. If I opened a new Nationwide e-isa (better rate of 3%) with Nationwide bank account money and transferred the old isa across to this after, would I forfeit that bonus? Or should I wait 'til July 1st? Also can anyone help me with this (to me) gobbledegook from the Nationwide…
Another Santander ISA Warning
I recently applied for a Santander FLEXIBLE Cash ISA (current interest rate 3.3%). I have not received anything in writing about the account apart from how to set up online access. When I set up online access to the account, it showed it was an EASY ISA. This has an interest rate of 0.1%! When I contacted Santander, they…
Withdrawing money from a easy access cash ISA
I have a easy access cash ISA which is now in it's 4th year and has been maxed up for the previous 3 years, and is being trickle fed to max up by next April. If I withdraw some cash from the ISA, is it taken from the previous 3 years savings, and therefore does not affect this years allowance ? Or is it taken from this…
REGULAR Investment ISA
I'm wondering whether the £25 per month INVESTMENT ISA [used to be PEP] with Santander is giving me the best deal. I opened it in 1998, with monthly payments of £25. Its current value is about £7,520. Should I continue, or is there something better and also tax-free? I will be reaching retirement age in a cople of years,…
Can I transer ISA with 1 name to 2 names?
Currently my father has an ISA in his name only. I was wondering if that can be transferred to the same or a new ISA and add an additional name to it? If so, what is the implication for the new person to open a new ISA in this financial year?
Taking out new ISA, need advice
Hi, I am trying to decide which ISA to go for. What is people's best advice in terms of balancing out whether to lock up long term or wait to see if rates increase? (the old question). Is Northern Rock's 3 year plan a good idea (4.25%) or am I better off sticking with good old Halifax's 2 year plan (3.65%). I'm quite fond…
What to do with empty ISA's?
Hi, After a bit of advice as I'm unsure what to do with several ISA's which I will be emptying in the coming weeks..... I've been saving for a deposit on a house for a number of years and the time has come where the money is needed to put down for one. As the money is spread over a couple of ISA's they will become…
Gross interest on isa
I have £18353.16 transferred in Nationwide E-Isa paying 2.75% in April 2010. I filled a form to have this money transferred to another e-isa paying 3.10% in April. Today I got my closure statement and it is showing only £331.89 in interest. Can this be right, I thought I am due for a whole year interest at 2.75% on that…
Junior Isa
I was contemplating investing £500 in a up coming junior isa, for my daughter, but am worried as there is no way of knowing how well they will do. I want to invest for 7 years till she is eighteen, I am baffled as to the best way to invest, do I lock it into an account, do I set up a bare trust, or something entirely…
Minimum deposit for ISA
Thinking about opening a new cash ISA from one of the listed ones here: http://www.moneysavingexpert.com/savings/best-cash-isa. Some of them list a minimum deposit of £1. Do previous ISA balance transfers count towards the deposit? Essentially I want to open a Santander ISA as it is one of the highest interest rate ISA…
Santander ISA cockup - got compensation
I tried to open a new Santander cash ISA online in March for the new tax year, so that I could fund it on April 6. They sent me a proforma letter rejecting the application, saying I couldn't because I had already subscribed to a cash ISA in the 2010-11 tax year. The letter told me to wait until the new tax year and also…
ISA for our joint account if I've already applied this year?
I applied for a Santander ISA yesterday for myself, but I was wondering if the OH and I could get the same ISA and if it could be tied to our joint account? Would they refuse it for the joint account, given that I've already applied for one this year? Thanks in advance for any advice :o
NatWest online ISA transfer form
For MSE members info.... The new style online ISA transfer forms that NatWest are now using have a few problems. You must have an existing NatWest ISA account or open a new NatWest ISA before you can complete a transfer form. But, the transfer form does not include a declaration to authorise the old ISA provider to give…
ISA confusion
Hi guys Little bit uneducated about ISA rules... hoping someone can help. I have an ISA I set up last year with Standard Life. The rate has dropped so I want to transfer it to a new provider and open a new ISA for this year. The providers with best rates don't allow transfers in so I want to transfer last years to one that…

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MSE News

Protect cash and help more people access affordable credit, next Government urged
Protecting and expanding access to cash and other essential banking services – such as affordable credit – must be a priority for the next Government, according to a new report published today.
Nationwide to pay £100 'Fairer Share' bonus to millions of customers from TODAY – here's who will get the payment
The £100 bonus will be paid to millions of the building society's current account customers who also have savings or a mortgage with it.
Warning: Lloyds, Halifax or Bank of Scotland customer? It could be about to increase your overdraft to 50%
The Lloyds Banking Group, which owns all three brands, says most customers will be charged the same or less under its shake-up – but others will pay more, and some Club Lloyds customers will see their rate nearly double.
Nationwide or Santander mortgage borrower? You've now only got four months to lock in a new rate ahead of your current deal ending
If you're a Nationwide or Santander mortgage borrower you can now only lock in a new rate up to four months ahead of your current deal ending – down from six months. It means you've less time to insure yourself against rates rising before your existing mortgage comes to an end. Fixed mortgage rates have steadily risen this year, though this trend could reverse with a possible base rate cut on the horizon.
Bank of Scotland, Halifax or Lloyds customer? Beware – it could be increasing your overdraft rate
The Lloyds Banking Group, which owns all three brands, says most customers will be charged the same or less under its shake-up – but others will pay more, and some Club Lloyds customers will see their rate nearly double.
Hive admits some users can't connect their electric vehicle chargers to its app – here's what you can do about it
Hive has admitted it's aware of a problem that's seen some customers unable to connect their electric vehicle chargers to the smart home tech provider's app.
How to multi-destination holiday like a MoneySaver
Why settle for one destination when you could see several and save money in the process. I've a reputation (one I'm proud of) at MSE Towers for having lots of holidays. With limited annual leave but an unlimited desire to discover as many countries as possible, I've taken to ticking off multiple destinations in one trip. It's easier, and cheaper, than you may initially think – and I'm hoping this blog will inspire you, if you want to give it a try yourself.
eBay to stop accepting American Express in August – be careful if you're planning to use PayPal as a workaround
You'll still be able to use your Amex on eBay by going through PayPal – but be wary of doing this with large purchases, as you may lose valuable Section 75 protection.
Plusnet Mobile user? Switch to another provider ASAP to avoid losing your number
If you're still using a Plusnet Mobile Sim, you need to switch away as soon as possible – particularly if you want to keep the same phone number – as the provider is closing down this month.

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