Halifax Isa collective (corporate Bonds)

Bog_Brush_2

Hi

I am trying to understand my mothers savings accounts. She is getting nervous that she has all her eggs in one basket (75,000) with the Halifax.
She has from what I understand 2 isa's, an isa invester account with about £20,000 in and the rest in something called a Isa collective account which I think has corporate bonds. Can someone explain what the collective account is and what options she might have to move some of this to another bank or building society eg is it locked in for a time period etc.

Many Thanks

Bog

dunstonh

Can someone explain what the collective account

It will be unit trusts and OEICs. Investment funds in other words. These are investments and not savings.

and what options she might have to move some of this to another bank or building society eg is it locked in for a time period etc.

They can be transferred but most bank OEICs and Unit trusts are pretty naff so little point of doing that. Better off transferring them to a fund supermarket with whole of market access and a better fund selection.

Bog_Brush_2

Thanks

so could she withdraw from the investment and transfer the funds into a more standard savings account. She is a bit confused (like me) and would like to just see the money in a bank (old School) so she knows what she has got even if it is not the best way to earn interest on it.

Thanks again