New A&L Isa rate - 5.2% variable

Noted in another thread (Thanks Milarki)


A&L Direct ISA Issue 2 rates

£1+ Annual Gross:5.20% (variable)††

Rates effective from 09/01/06. †† Includes 0.70% bonus fixed until 30/04/07
30


Details Here
«13456710

Replies

  • can someone please clarify this? is this an instant access isa which you have on line? what is bonus for? how do you get money out? do you have passbook etc?
  • grumblergrumbler Forumite
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    You can find all answers here: Direct ISA and Direct ISA User Guide .
    As usually, bonus is to attract new customers in the hope that most of them don't switch when offer expires ...
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • angelicaangelica Forumite
    274 Posts
    I have £3,000 on 5% Halifax ISA account. Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA (I opened it just in case few minutes ago) or should I keep money where they are and use the new account for the next year allowance?

    Thanks.
  • YorkshireBoyYorkshireBoy Forumite
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    angelica wrote:
    I have £3,000 on 5% Halifax ISA account. Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA (I opened it just in case few minutes ago) or should I keep money where they are and use the new account for the next year allowance?
    3,000 x .002 = £6 more/year with A&L (assuming both rates stay the same for a year).
  • grumblergrumbler Forumite
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    angelica wrote:
    ... Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA ...
    Transferring ISA is in fact very simple. Probably it is worth waiting till March when competition gets more tense ...
    (I opened it just in case few minutes ago)
    :think: Why - if you have not decided yet?
    http://www.hmrc.gov.uk/leaflets/isa-factsheet.htm:
    Remember
    • you cannot open more than one Mini cash ISA, or more than one Mini stocks and shares ISA in the same tax year
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • angelicaangelica Forumite
    274 Posts
    grumbler wrote:
    :think: Why - if you have not decided yet?
    :confused: Probably because unconsciously I made a decision :p

    I can answer like a young wizard from a very very old movie produced in my country 'I am not a wizard yet I am only learning...' (when his magic does not work) ;)
  • Wouldn't Angelica then have the opportunity of open another one in April'06? Or do you have to top one up with the £3000 before proceeding to the next one?

    Taratataaaan!!!??
  • angelicaangelica Forumite
    274 Posts
    As grumbler stated a person can have only one ISA account in the same tax year :rolleyes: , my understanding is that next April a new account can be opened if required/wanted.

    In April I can transfer the existing savings to a completely new account, or leave this year savings where they are now and start new year savings from scratch using the new account, or can even switch to maxi ISA and buy shares for the whole allowance. A lot of choices ;)
  • grumblergrumbler Forumite
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    angelica wrote:
    ...In April I can transfer the existing savings to a completely new account...
    There is now need to wait untill April. You can do this at any time ;)
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • angelica wrote:
    I have £3,000 on 5% Halifax ISA account. Can someone more experienced give me an advice if it is worth the effort to move money to the new A&L ISA (I opened it just in case few minutes ago) or should I keep money where they are and use the new account for the next year allowance?

    Thanks.

    No

    1. They charge £25 for the transfer out (or used to?)

    2. They are slow at transfering out.
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