New A&L Isa rate - 5.2% variable

jimclark1967

MiserlyMartin wrote:

As April 6th is getting scarily close, is it possible to pay the money in slightly before this (eg April 3rd) so that the money hits the ISA bang on April 6th, or will the A&L system probably reject any transfers done early? I ask because I've never been this much on the ISA ball as this year and have never had to think about this stuff before.

I personally wouldn't risk it on April 3rd as you might get "lucky" and have it arrive in the ISA on April 5th.

Best wait till April 4th IMHO

JC

jimclark1967

Chillum wrote:

So far I have not been asked to provide any identification which has happened before when I have opened new accounts.

Is it just me or is this a little odd?

I have opened 4 A&L accounts in the last few months and wasn't asked for ID at any stage. Banks can often get all the information they need by searching credit reference agency records and matching to the details on your application form.

Nothing to worry about anyway :beer:

JC

MarkyMarkD

As Jim says, if you are electoral roll registered and traceable online (most likely if you haven't moved around recently) you can be verified online and don't need to produce documentation for any sensible institution which uses the electronic information available.

Some (dafter) institutions make everyone produce lots of boring documentation - like HSBC when I opened a credit card account recently - but I can't criticise them for being almost the only institution which has asked me for a payslip to prove income when opening a card account.

MiserlyMartin

ISA Transfer TIP:

Just went into the Coventry BS today to move another ISA to A&L. Having been already told by their head office that they didn't do partial transfers I was told by the branch that they do. This also happened at Norwich & Peterborough. So I would ignore anything that anybody tells you on the phone and try at the branch to do a partial transfer if thats what you require.

macca64

Well decided against the Halifax fixed rate and went with the A&L instead, even if rates drop by 0.25% and A&L do the same, then I'll still be getting 4.95% compared to 5% at Halifax on the fixed rate, which isn't too bad considering I'll have instant access to my cash!!

Also I got when I applied on line, but have not heard anything since, how long does it take A&L to get back to you, regarding account number etc, so that I can transfer my Smile ISA to them??

Gem_

If I fund an A&L ISA in the 2006/2007 tax year can I add the balance of my 2005/2006 tax year ISA which is currently with another bank? I am so confused about this stuff.

Thanks

PS

Chillium

You are not the only one not to be asked for ID. They didnt ask me for any ID when I opened my ISA last week - more scary is that they did not ask for any ID when I opened my current account 2 months ago!

exel1966

Gem_ wrote:

If I fund an A&L ISA in the 2006/2007 tax year can I add the balance of my 2005/2006 tax year ISA which is currently with another bank?

Yes, the allowance is £3k per tax year. All ISA funds from previous years can be transferred and amalgamated into the new 06-07 ISA.

sloughflint

exel1966 wrote:

Yes, the allowance is £3k per tax year. All ISA funds from previous years can be transferred and amalgamated into the new 06-07 ISA.

That sounds like a good idea. How long should the process from another bank take ( Halifax to A&L Direct ISA)
Actually, I've just remembered why I didn't go with A&L. It wasn't just the fact that the bonus was temporary. It was the fact that they don't follow stakeholder's standards so can charge to transfer out if ever they wanted to. I'll stick with Halifax.

macca64

macca64 wrote:

Also I got when I applied on line, but have not heard anything since, how long does it take A&L to get back to you, regarding account number etc, so that I can transfer my Smile ISA to them??

Got my conformation letter in the post yesterday, so can send of the forms to get the transfer started. Must say I'm impressed with the speed at which A&L turned my application around, applied Friday afternoon, got letter in post Monday!

loobs40

Result !

Saw this thread yesterday afternoon. Applied online for the ISA soon after, and got my ISA account confirmed at 9.00pm last night. (I already have a A&L current account )

Now for the hard bit. Transferring funds from my Abbey ISAs to the A&L one!