Fixed ISA that allows transfers ?

~Chameleon~

Go grab the BM FRISA before that disappears too

http://www.askbm.co.uk/savings/p/isa/product.asp?id=146

Renfro

~Chameleon~ wrote: »

Go grab the BM FRISA before that disappears too

I tried to do that on Friday, but it insisted on a cheque (which I assumed meant that it was going to opening a new ISA).

I couldn't figure out how apply to do a transfer in.

~Chameleon~

Renfro wrote: »

I tried to do that on Friday, but it insisted on a cheque (which I assumed meant that it was going to opening a new ISA).

I couldn't figure out how apply to do a transfer in.

In that case I think it would be better to apply by phone (number is on the site) rather than doing it online. Unless of course you are wanting to transfer in an Icesave ISA which you will be able to do via cheque once our money is returned us

udydudy

NR allows transfer in into their fixed rate ISA, The ISA regulations as someone mentioned above means new money being put in. you cannot have two cash ISAs open in 1 year even if both amounts total less than the ISA allowance. i.e one cannot have 2 cash ISAs with £1800 each.
But one can open one cash ISA with say Barclays for £3600 and then transfer it to another provider. In this case the previous account gets closed before the new on is opened.

V.V.IMP. -- The tax wrapper is carried over as long as the transfer is done between the banks and one does not personally close the first account and then open a new one.

I had opened a Barclays Tax Haven ISa when the interest rate was 6.25% which they subsequently dropped to 5.72% last week. I have transferred the same to a NR 5 year fxed rate ISA. I did receive a confirmation that they received my application and have sent the transfer request. This was before the BoE rate cut.

Now they seem to have withdrawn the Fixed Rate ISAs as I do not seem to see it on their website.

Anybody have any idea(or experience with NR) whether they will still give me the 6% interest rate? I hope so!!.

chris_topher97

i moved mine into Principality the other month, http://www.principality.co.uk/default.aspx?page=607 There still allowing transfers in, but its variable and has dropped from 6% to 5.5%, i have a sneaky feeling my 6% was secured till april but i'm not entirely sure.

Baldur

chris_langs wrote: »

i have a sneaky feeling my 6% was secured till april but i'm not entirely sure.

Their previous rates information page doesn't indicate any fixing of the 6% rate.

dupuytren

I tried called BM to ask to apply for the FRISA but the hung up on me coz apparently too many people are on the line!
I opened my first cash ISA with Egg this year, deposited all £3600 into there. But I want to open the fixed rate ISA with BM and transfer the entire £3600 there. I wanted to ask them on the phone but it is just impossible. Anyone knows if I can? I tried with Northern Rock but they didn't let me

Please let me know!

Baldur

dupuytren wrote: »

I tried called BM to ask to apply for the FRISA but the hung up on me coz apparently too many people are on the line!
I opened my first cash ISA with Egg this year, deposited all £3600 into there. But I want to open the fixed rate ISA with BM and transfer the entire £3600 there. I wanted to ask them on the phone but it is just impossible. Anyone knows if I can? I tried with Northern Rock but they didn't let me

See http://www.askbm.co.uk/savings/p/isa/product.asp?id=146&p=terms

3. The minimum investment in a Fixed Rate ISA is £1.The maximum total sum of all deposits in a tax year is the equivalent of the maximum under HM Revenue & Customs Guidelines. You may be able to transfer deposits made into other Cash ISAs from previous tax years. The investment limits refers only to deposits made....

dupuytren

Thanks for the reply. Got the paperwork today - the forms to open the BM FRISA acct and the transfer in form for my existing ISA provider. I am still not 100% clear though after reading the T+C. I don't have any previous year money as I just opened my cash ISA with Egg 2 months ago and used up the entire £3600, which means the money I have is for the current tax year. Am I right to assume that BM will not accept the transfer in from Egg then since I've maxed out for this year? Hope someone can just give me a straight Yes or No answer ...thanks..sorry for being so thick!!

Baldur

The HMRC guidance permits transfers of the current tax year's Cash ISA funds as long as they are transferred whole (i.e. no partial transfers), whether BM will accept such a transfer is their decision, as it's not mandatory for an ISA manager to accept transfers - suggest that you ring them to check.