HBOS ISA Investor

fleenio

Hi,

I currently have various accounts with a couple of banks. However I am trying to get the volume of money down to 35k to each bank. I have an isa investor with hbos and wondering whether i should now move the money in that aco!!!! to another high interest savings account with another bank/building society. Do you think its wise to move the money and where do you think i should invest it? Was thining of B&B savings account, or do you think it would be better elsewhere?

dunstonh

I have an isa investor with hbos and wondering whether i should now move the money in that aco!!!! to another high interest savings account with another bank/building society.

The ISA investor is not an account and it doesnt fall under the deposit protection scheme. It falls under the investments protection scheme. Although being a unit trust ISA, that doesnt really matter.

Do you think its wise to move the money and where do you think i should invest it?

Depends on your aims, objectives and risk profile.

Was thining of B&B savings account

Thats a savings account and not a stocks and shares ISA.

fleenio

dunstonh wrote: »

The ISA investor is not an account and it doesnt fall under the deposit protection scheme. It falls under the investments protection scheme. Although being a unit trust ISA, that doesnt really matter.



Depends on your aims, objectives and risk profile.



Thats a savings account and not a stocks and shares ISA.

Sorry I did not make myself clear.
How much would i be covered for under the investments protection scheme? I am thinking of moving the money from the Isa investor into a savings account but not sure where to go.

Comfortably_Numb

I took out one of those isa investors 3 months ago, which is sadly worth less than I've put in. I wish I'd just put it in a savings account. I pay monthly into it, so hopefully it will even out, but I'd be interested to know about the protection for this.

dunstonh

How much would i be covered for under the investments protection scheme?

invesments protection is independent of deposit protection and life and pensions protection. For investments it is 100% of the first £30,000 and 90% of the next £20,000.

I am thinking of moving the money from the Isa investor into a savings account but not sure where to go.

Why lose the ISA status? If you are concerned over risk then get it in a fund supermarket and get it lower risk. If you cant do that yourself then get an IFA to do it. There is no reason to lose the ISA status as you can get S&S ISAs covering virtually all risk profiles.