Where Are You Transferring Your IceSave ISA's To?

Baldur

skattykatty wrote: »

Have read and discovered that there is 100 days loss of interest if you take money out of your account! Just thinking that in this climate, we're more likely than not to dip into these savings...

Most fixed rate accounts will either not permit access for the fixed term or have an early access penalty, so are not a particularly good idea if you are likely to need access to your funds.

missmilly

skattykatty wrote: »

Been put off Scottish Widows...has anyone tried NatWest?

Oops! Can you tell me why you've been put off Scottish Widows please, before I fill out the application form I have just printed!

Thanks

skattykatty

Hey...well...to be honest been put off by what I've read online on this site and others. Hmmm. Usually, I'd just go me own way and do whatever but I think the whole ICESAVE thing has left me a bit shaky 'bout making any decisions. Have a read through posts on here, I'm sure there are plenty of people who are happy enough...who knows, I may even change my mind! Not that helpful, and very blethery...sorry!

Stompa

Almost there with Halifax now thank goodness. One final annoyance though, you can't BACS transfer your Icesave funds into the account if the value exceeds £3600 - their system throws a wobbly if you attempt it apparently.

Io07

Thank you stompa for the icesave link..
Discussed with DH and we've decided on the halifax 4% - have an appt with the local branch next week. tried doing on the phone but was told they had an "icesave specific form" which needs to be filled out.
best to go with my chequebook from the linked account then? why don't they fix their system to accept BACS transfers? there must be plenty of people wanting to give them their money - making it easier might help!!!

cottager

Latest update from us...

Went into branch yesterday hoping that after the rush to fix rates and a few days of people receiving certificates, Icesave might be a familiar scenario. Admittedly it was late (10 mins before closing, as I can usually only get there late) and I only saw one floor-person, but it was just a blank look and "Ice...?" , so my heart sank.

I'd gone in only to pick up a couple of blank ISA TF forms just in case (see Stompa, #112). They didn't have any (so he said, after pulling and pushing dozens of drawers open and shut, checking a screen etc), and if they didn't it seems they probably won't get any more before Christmas... so I hoped the 'just in case' wouldn't be needed.

Yesterday, as advised to do by Halifax on the telephone, I posted back the 'inappropriate' standard declaration forms we'd received, with covering letters confirming these were 2007/08 Icesave subscriptions with interest, and with questions about funding and procedure. Also that we'd been expecting the special Icesave forms (see KingL's posts), as all the details + specific amounts had been given (and as far as we know, noted) when opening the accounts by telephone, but hadn't received them... hence returning the standard declarations as advised. Threw in the ISA Promise as well for good measure, with our understanding the rate would be held for 60 days.

Today more correspondence turned up, having crossed with our letters.

Bear in mind OH and I are both in exactly the same situation, opened the same Halifax FRISAs, on the same day, and received exactly the same initial standard (but inappropriate) declarations to return. But in this second wave of forms, we have received completely different things.

1. OH
From Trinity Road, Halifax, he's received a standard blank Cash ISA Saver Account Transfer Form - Customer Authority (ISATF) with a short covering letter saying they're pleased to 'enclose the details you requested' and 'I hope this information will be of interest to you', and if so to complete the form and return in the envelope or to a branch. There is no mention of Icesave and no special arrangements, but his new account/roll number are quoted. And that's it, apart from a return envelope.

2. Me
Not the normal standard A5 Halifax envelope but a smaller franked one postmarked Chatham in Kent, but showing a Lovell Road, Leeds address in the franking; and enclosing:

(i) A letter from a PO box address in Leeds, quoting the right FRISA account number and headed 'Your ISA'.
Wording is almost the same as yours, KingL, but with slight differences.

Instead of within 10 days at the end of Para 2, it's as soon as you have received these.

And in para 3: ... from the Financial Services Compensation Scheme within 4 weeks of receiving your Icesave funds, please contact them ...

Otherwise identical, apart from the signatory.

(ii) The same blank Icesave-specific Customer Authority (ISATF) form you received, no differences as far as I can see.

(iii) A further sheet -- another formal application/declaration headed 'Halifax ISA Saver' -- and in terms of the wording it's pretty similar to the standard declaration received first and just returned; but its 'look' is quite different.
Has the account number, my name and other info, and at the top are printed details of what seems to be the batch holding mechanism mentioned in the letter till the certificate's received. It still refers to 2008/09.
It also says 'I wish to open my account with £1.00'. This rings a bell -- someone on another thread (don't think it's this one) definitely mentioned their account being credited with £1 of Halifax's own money, but I can't trace it.
Did you get something like this, KingL?

So our experience seems to be yet another slight variation on a theme!

I've been undecided about whether we should fund our accounts or not. I know many here have but some haven't, and typically people have reported conflicting advice from Halifax about this. We didn't fund straight away, but it's a question asked in our letters yesterday, pointing out we could have funded immediately and were presumably losing interest while we didn't. We asked if they would clarify and, if it turned out we could have funded beforehand, whether interest would be backdated to the date of opening.

Having received the latest stuff it seems I at least am on the 'Icesave radar' as far as Halifax are concerned, so I took the plunge and deposited my cheque today. Because I intend returning all signed documentation by post, I decided simply to pay it over the counter quoting the roll number, without asking to see anyone. After the blank looks yesterday I thought it would be less hassle and avoid all the explanations. (It was also again very late in the day, only a few mins before they closed.) There was still a query however, as the roll number wasn't registering. I produced my copy of the standard declaration returned yesterday and then expected the third degree, but all was well -- it was only because it had to be entered as 'new'.

EXCEPT, instead of the usual simple receipt (like last week when funding my ISA for the current year), he then printed up and gave me a passbook????! Asked to sign 'invisibly', as you do with passbooks. Inside it's stamped with the right numbers and records it's an ISA Saver with interest due yearly. Beneath the sort code/account number on the inside front cover is 'Quote these details when setting up bank credits to this account'.
All of this -- even having a passbook at all -- seems to me inappropriate for a FRISA (is it?), but will need to take it up with them another time if necessary. There just wasn't the time to start into all that.

For OH, although his cheque's also ready, I decided not to pay it in because, unlike me, the extra paperwork he's received doesn't indicate Halifax has cottoned onto the fact he's an Icesaver. Really not sure what to do about him then, except wait and see.

Still not had our certificates... we were paid on 2nd/3rd Dec, and from what others have just been saying maybe they'll come a bit sooner than we thought.

Sorry this got so long!

Stormy

I just got my Icesave ISA certificate, are Natwest accepting these for their bonus accounts now? Cheers

Stompa

Io07 wrote: »

why don't they fix their system to accept BACS transfers? there must be plenty of people wanting to give them their money - making it easier might help!!!

Indeed!!!!

Stompa

cottager wrote: »

I'd gone in only to pick up a couple of blank ISA TF forms just in case (see Stompa, #112). They didn't have any (so he said, after pulling and pushing dozens of drawers open and shut, checking a screen etc), and if they didn't it seems they probably won't get any more before Christmas... so I hoped the 'just in case' wouldn't be needed.

It's not needed for transferring an Icesave ISA. They didn't have to search for any forms for me, they just printed them off.

jennifernil

Arandorastar wrote: »

I received my IceSave funds on 1st December, my wife on the 2nd. We've both received our ISA Reinstatement Certificates today. I'm now looking to transfer both into Saga Secure Saver ISA Accounts (currently 5.25%)

I am worried now. We claimed on Nov 24th, money in our accounts Nov 28th, but still no certificates from the FSCS.

All mail here is taking ages to arrive. A 1st class letter posted on the 8th in Yeovil only arrived today 12th (in Glasgow).