Post Office ISA - does it really pay 6.25% on transfers?

tiptoe_mouse

I've reread the details on the Post Office website, and my suspicious side has noticed this in the small print:

Includes 1.5% bonus on all deposits made in the 2008/09 tax year for 12 months from the first deposit.

I'm wondering whether this means the bonus is only paid on new money, and not on transfers. I hope not, but, as I say, I'm suspicious.

tiptoe

Baldur

It's probably worth checking out with their freephone transfers number 0800 169 7500

roddydogs

Post office dont do transfers

Baldur

roddydogs wrote: »

Post office dont do transfers

They don't appear to agree with you, they would hardly have an ISA transfer freephone number (as I posted above) if they didn't - see HERE.

freddykrueger

roddydogs wrote: »

Post office dont do transfers

But if they did they would probably be the best transfers in the world :T

Sorry I couldn't resist.

maypole

Maybe you are thinking about National savings ISA, I don't think they do transfers in to their direct ISA.

roddydogs

Sorry, thought it was the same as Nat Savings ISA. Thanks

tiptoe_mouse

It would have helped if I'd included the link:

http://www.postoffice.co.uk/portal/po/jump1?catId=19300232&mediaId=82300737

I'm not sure about ringing them as I wouldn't trust the answer. I don't generally find call centre staff (or branch staff for that matter) are very knowledgable about details such as this - usually because thay aren't provided with good information.

tiptoe

Baldur

tiptoe_mouse wrote: »

I'm not sure about ringing them as I wouldn't trust the answer. I don't generally find call centre staff (or branch staff for that matter) are very knowledgable about details such as this - usually because thay aren't provided with good information.

'Deposits' are mentioned, rather than 'subscriptions' - the latter term (under the HMRC regulations) is used to refer to new money, whereas 'deposits' would logically include tranches of transferred funds.