ICESAVE ISA Transfer Certificate from FSCS

Palm_Centro

Probably not an option for anyone with significant ISA funds in Icesave.

babylonfree

KingL wrote: »

HMRC guidelines say that the ISA Manager must receive the original

http://www.hmrc.gov.uk/ISA/bulletin6-2008.htm
Downstream from that the ISA manager can choose to keep an image of the original and let you have the original back if he wants.

Get a colour copy... they wouldn't know the difference. The one I got is hardly a certificate. It's a naff print out from a bog standard printer with low quality logos and signatures stuck on it.

zoebel

So what's the procedure with NatWest? I've already got an isa open with no money in it. Do I just complete a transfer form in the branch, write them a cheque and hand over the certificate and its all done?

Vectra

babylonfree wrote: »

Get a colour copy... they wouldn't know the difference. The one I got is hardly a certificate. It's a naff print out from a bog standard printer with low quality logos and signatures stuck on it.

Ho Ho you can't get a colour copy of your certificate it comes out black and white.
when we took ours in to Halifax they took a copy to send off and gave us the original back..

jem16

Vectra wrote: »

Ho Ho you can't get a colour copy of your certificate it comes out black and white.

Use a colour photocopier.

TehJumpingJawa

Has anyone else considered splitting the money?

I'm currently living off my ISA money, and so need immediate access to atleast a portion of the funds.
However, given the terrible(and worsening) instant access interest rates - I was considering splitting my ISA between 2 accounts - 1 instant access, and 1 fixed rate.

My certificate arrived today, and I was expecting some form of covering letter explaining the restrictions on how it maybe used... no such luck :T

I'm dreading the thought of trying to explain this scenario to a bank, as i'm quite sure they will have no more idea than me!

I guess the certificate allows you to pay upto the amount specified into a new ISA?
rather than only that exact amount? (i'm stuffed if it's the latter, as i've already spent some of it!)

Also, if they only take a copy of the certificate, I guess there is no harm in applying for 2 ISA's at different banks, so long as the total paid in does not exceed the certificates special allowance(+any of this years remaining standard allowance).

Though if this is how it is supposed to work, what is to stop me from opening half a dozen ISAs, to massively exceed the special allowance granted by the certificate

Reaper

TehJumpingJawa wrote: »

Though if this is how it is supposed to work, what is to stop me from opening half a dozen ISAs, to massively exceed the special allowance granted by the certificate

The same thing that stops you opening multiple ISAs each year - your National Insurance Number, or failing that your tax ref. It's all too easy for them to see how many ISAs you have opened.

As to splitting your ISA money into more than one account - I think you would just be asking for headaches, even if it was allowed.

Vectra

jem16 wrote: »

Use a colour photocopier.

Well tried that but it don't work must be special ink or paper they are using!

harz99

Vectra wrote: »

Well tried that but it don't work must be special ink or paper they are using!

Which just goes to show that non helpful sarcastic comments like the one from Jem16 are not needed!

babylonfree

Vectra wrote: »

Well tried that but it don't work must be special ink or paper they are using!

I work in a printers and there is nothing special about the certificate I can assure you. They have just printed it on ivory paper rather than white.

In my opinion a photocopy would be absolutely fine to send off if people would rather keep the original. There are no water marks, holograms etc that you'd find on other kinds of certificates, so there's no reason for the original to be sent.

The information that identifies this as genuine is the number at the top of the page.

All in my opinion of course.