New A&L Isa rate - 5.2% variable

scotsbob

Just opened an A+L cash mini ISA and read the small print. It seems you agree to A+L opening a cash mini ISA in your name each year until you ask them not to! Therfore it is important to make a note in your diary to make sure that you write to them next year just before the end of the tax year.

david78

This is a standard clause -- applies to all ISAs (cash and stocks and shares)

No need to write to them. Just don't put any money in the account next tax year.

MiserlyMartin

mary wrote:

Do you think in this day of modern technology, they send the money by post?? Surely they use some form of electronic transfers!!!!

I would have hoped so, but N&P definately sent a cheque because they told me so in a letter. Thats if you believe it.

Still the money has not arrived at A&L, Coventry sent the money on the 29th. I phoned Coventry and according to them ISA's have to be transferred via cheques to keep the tax free status. Sounds like an excuse to me I'm sure the industry could keep a safeguard in place to make sure that electronic ISA transfers kept as such if it could be bothered to get with the times. Maybe its government policy thats the problem. But anyway its a silly system. What if the cheque went astray in the post|!??

jackthelad_2

I have a A/L Direct ISA earning 5.15% at the moment I have just tranfered £3000 for this tax year into this acc from my A/L current acc.What interest will i earn on this, will it still be 5.15%. I cant seem to find details online. I wish A/L would put the interest rates you are earning against your accs

miller

jackthelad wrote:

I have a A/L Direct ISA earning 5.15% at the moment I have just tranfered £3000 for this tax year into this acc from my A/L current acc.What interest will i earn on this, will it still be 5.15%. I cant seem to find details online. I wish A/L would put the interest rates you are earning against your accs

http://www.alliance-leicester.co.uk/savings/index.asp?page=closed-rates

Still 5.15%

codetown

Does anyone know when is interest added to the A&L Direct ISA (Issue 2)?
I thought it would be with the end of financial year (5 April), but nothing has been added to my account.

exel1966

codetown wrote:

Does anyone know when is interest added to the A&L Direct ISA (Issue 2)?
I thought it would be with the end of financial year (5 April), but nothing has been added to my account.

Annually on 1ST JANUARY.

YorkshireBoy

codetown wrote:

Does anyone know when is interest added to the A&L Direct ISA (Issue 2)?
I thought it would be with the end of financial year (5 April), but nothing has been added to my account.

See your T&C's...

29.43 Interest will be calculated to 31 December each year and annually in arrears thereafter.

http://www.alliance-leicester.co.uk/savings/SA8698.pdf

Rochdale_Guy

Hi all. I didn't even see this thread existed and foolishly started a seperate thread of my own:

*URGENT* New MiniCash ISA - 2 from same provider???

http://forums.moneysavingexpert.com/showthread.html?p=1943881#post1943881

Anyway, if you dont want to read that, here is my predicament:

I put £3k in one last month (2005-06 year) borrowed off a credit card.
I have also stupidly just applied for another one to put another £3k in (again borrowed off this credit card), not realising you could just add the £3k to my existing 2005-06 one !

What makes it even more confusing is they apparently open a new MiniCash ISA on your behalf each new financial year unless you tell them NOT to!

So, because I panicked and obviously have no knowledge of all things re: MiniCash ISAs (!!!!), will I end up with 3 separate ones now ?

Oh shucks

Rochdale Guy.

Rochdale_Guy

Oh yeah, to clarify things with you all, I have borrowed £11k off this credit card at 0.9% until 1/9/2006, hence putting £3k in the A&L MiniCash ISA last month, and wanting to put a further £3k in a new one. The other £5k has gone into my ING savings account.....