New A&L Isa rate - 5.2% variable

grumbler

flossy_splodge wrote:

...if you want to transfer from one to t'other they can do it in Branch for you.!

There is no need to go to a branch ... Phone call would be sufficient. See post #11 in MINI CASH ISA's HELP!!!!! thread.

snezhinskproject

Just further to a post above, has the exit charge for an A&L Isa issue 2 definitely been abolished? As I fully intend exiting A&L this time next year if the interest rate drops!

macca64

I think that this was dropped a while ago, phone them to confirm.

pennies2pounds_3

Have just looked Here and I cannot see anything relating to an exit charge . I am sure someone on here would have said if there was anyway as it would not be a very good investment if there was! Hope this helps.

[Deleted User]

I just signed up to a Mini-cash Isa with A&L, as recommended by Martin.

However, the small print in the customer Declaration form says 'Please open an Alliance & Leicester Direct Mini Cash ISA for the year 2005/2006 and each subsequent year until further notice'. :eek:

Thank goodness I spotted that, I am going to call them in the morning to clarify that point as I don't necessarily want to open another with them next year and every year after that.

I just wanted to let everyone else know.

david78

Van1971 wrote:

I just signed up to a Mini-cash Isa with A&L, as recommended by Martin.

However, the small print in the customer Declaration form says 'Please open an Alliance & Leicester Direct Mini Cash ISA for the year 2005/2006 and each subsequent year until further notice'. :eek:

Thank goodness I spotted that, I am going to call them in the morning to clarify that point as I don't necessarily want to open another with them next year and every year after that.

I just wanted to let everyone else know.

This is quite normal for cash ISA's and is absolutely nothing to worry about. It just means if you decide to put some more money in after 5th April 2007 you won't need to send in an application form -- please don't worry.

If you decide not to fund the account next year you just fill in an application form for a new provider.

[Deleted User]

Is it really? OK thanks for that, I feel better now.

pingi

http://www.alliance-leicester.co.uk/savings/isa-tscs.pdf

Section 6.1
'A transfer into Your Account by direct debit from a
current account held with another financial institution
will normally take five Working Days from the time We
receive the transfer at Our clearing centre before any
withdrawals can be made against it. Interest will be
earned from the fifth Working Day after receipt.'

'Interest will be earned from the fifth Working Day after receipt.'

eh? Is this 5th day after receipt of cleared funds or receipt of DD instruction?

If I BACS money in instead of using DD will the a/c pay interest from the day of receipt?

TIA

isasmurf

snezhinskproject wrote:

Just further to a post above, has the exit charge for an A&L Isa issue 2 definitely been abolished? As I fully intend exiting A&L this time next year if the interest rate drops!

I think I'll have to stick this in the FAQ. Yes, the charge was dropped on all ISAs in July 2005. see here

MiserlyMartin

Just applied for one myself. Well from reading these terms and conditions of the ISA SECTION 9 Interest On Your Money - it states:
"If a subscription is made by cheque (permitted in the intial funding period only, and and on transferring funds from an existing account at any time) interest is calculated from the fourth working day following reciept."
Sounds fair enough to me.

By the way, 'the intial subscription period" is the period 7 days from account opening where you can make payments via cheque. After that subscriptions must be via your linked current account.

Intial transfers by DD from the linked account could take up to 8 working days so it may be quicker to use BACs