Where Are You Transferring Your IceSave ISA's To?

b0rker

sheslookinhot wrote: »

I am going with A&L.

Have you noticed that A&L have dropped the interest rate on their Easy ISA from 4.5% before Christmas to 3.5% now. I am assuming that the Easy ISA is a variable rate ISA? I applied when the offer eas still 4.5%. I am assuming that I will not get that 4.5%?

Baldur

b0rker wrote: »

I am assuming that the Easy ISA is a variable rate ISA?

It certainly is:

• Earn 3.50% gross p.a./AER (variable) without paying tax on your savings.
• Rate includes a 1.50% bonus payable until 15 February 2010.

MrsMillar

I called Scottish Widows way back in November, before I had received my ISA certificate from the FSCS and was told that I could open their ISA without the certificate and forward the certificate in due course. I applied for the account and my cheque was cashed on 27 November. This led me to believe that all was in order.

I then received a letter asking for proof of ID (fair enough) and also requesting my ISA certificate as they needed it before they could deposit the money! It therefore seems that the helpful chap on the phone had slightly misled me as although I could "open" the account, I certainly wouldn't be earning any interest until they had my certificate......

Anyway, I sent back my proof of ID and ISA certificate around the 8th December I think, and my account is STILL showing a zero balance when I check online. I wouldn't mind so much if they hadn't cashed my cheque, but where is my money? I think it is very cheeky that they cashed my cheque before asking for everything they needed to open my account. I would rather it was at least earning a small amount on interest in my current account than be in some sort of black hole.

Has anyone else had a similar experience?

pennylessstudent

With the rates dropping at the moment is it best to re-invest our Icesave ISA money in a fixed term ISA? Can I split my Icesave money and open a fixed term ISA now and then open a standard ISA with the rest of my ISA money in the new tax year so I still have access to it?

musehead

I transferred mine to the KRBS U-25s Direct ISA, still paying 4.26% at the moment. All went very smoothly.

square-eyes

I opened a Halifax 1 year fixed ISA @ 5% as soon as the money came through. The certificate arrived 2 weeks later so I took it to my local branch.
Halifax want proof of identity but keep sending me application forms/packs for openeing a new ISA. I phoned to say I thought I had the wrong form and they said they would send the correct one. Nothing recieved yet although I got a letter acknowledging my deposit and opening an account. It makes you worry about trusting your money to an institution that can't send a simple form. Two months on and I am still waiting to complete the transfer. It is no wonder that they lost all that money if they can't open a simple account like banks used to do quite well.

harz99

We put ours into Standard Life Bank via post as we need the monthly income to our own bank account option and live in rural Southern Scotland; not a fixed rate unfortunately but the best deal we could find.

Went pretty smoothly, but be aware that this account when set up is an annual interest account and you have to then ask SLB to change it; why I don't know but that is the way they do it.

efunc

Julian Hodge Bank Fixed Rate ISA. Are they certified by the FSA? Can't see any mention on the site.

Baldur

efunc wrote: »

Julian Hodge Bank Fixed Rate ISA. Are they certified by the FSA? Can't see any mention on the site.

Yes, I've had several Cash ISAs with them over the years - see http://www.julianhodgebank.com/personal/savings.asp and http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=78896

Financial Services Compensation Scheme Julian Hodge Bank is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Under the Scheme, payments are limited to 100% of the first £50,000, subject to a maximum payment of £50,000.
Further details of the Scheme are available on request.

Baldur

Be aware that, on maturity, the JHB FRISA reverts to their variable rate Cash ISA, which has a 90 day notice period - however, you will be contacted by letter, about a month prior to maturity giving you your maturity options, which include transfer, new FRISA at the prevailing rate, etc.

There is a 14 day penalty-free 'window of opportunity' from the date of maturity, in which to transfer to an alternative provider.

I always complete transfer instructions on receipt of the letter (if their new FRISA rate is not competitive), giving instructions that the transfer should take place on maturity and have never had any problems - but it's something to bear in mind.