How to use Icesave ISA certificate?

matthew74

Opened an Alliance and Leicester E-ISA last week and shoved this years allowance in as I only had £3700 or so in icesave ISA, so couldn't be arsed to go through an ISA transfer process. Sent the certificate (which I received today) to A and L customer services.

Victors_Bruvver

Both my wife and I received our Icesave certificates today from the FSCS and have now got to find a new home for the ISAs we hold.

Frankly this Icesave saga has all been very worrying & confusing and we now have the onerous task to find somewhere where we do not have to go through hoops of fire with identity and address checks and copies of utility bills etc but just get the money reinvested quickly and without delays.

Therefore a plea; where do I go with two certificates along with two cheques, either in the high street or on the ‘phone, to open two ISAs at the best (ha ha) possible fixed rate available please?

Yours frustratingly
Victors_Bruvver

ScarletBea

I think I might have been too hasty. Way before getting my money I opened an ISA with my bank (Natwest) and I said the money was coming from icesave but would come via my normal account (since it was before the talk of cerificates).
The lady opened it as normal, and it's been standing there empty for almost 2 months (since I'd also used my year's allowance in icesave).

Today I got my certificate and will go to the bank on monday - I wonder if she needs to close this account and open one where it says specifically "funded from transfer" or if I can do the transfer now into the one that's already opened....

lewianbra

I just got my certificate and decided to open an Alliance& Leicester EasyISA. However, I can't make sense of their website; the only application form that I find asks me to confirm that I didn't put money into any other ISA in the current tax year and says that I can transfer money from previous tax years. I also don't find any telephone number on their website to ask them.

Can I just go on with this form and then indicate that I want to transfer Icesave money from the current tax year with certificate when I get their paperwork (or further emails)? How can one contact these guys with questions?

I know that this could be a good reason to go elsewhere but I find myself confused with procedures of pretty much all the others as well except of those who offer crap interest.

$nake_eye$

Our savings accounts make saving simple and rewarding

• EARN 4.50% GROSS P.A./AER, this rate includes a 1.50% BONUS payable until 15 February 2010.
• SAVE from £1 up to £3,600 in each tax year, plus any previous tax years’ ISA funds.
• Funds cannot be transferred from another Alliance & Leicester ISA.
• Save regular amounts each month, or put in one-off payments WHENEVER you want, subject to ISA limits.
• Interest is PAID annually
• ACCESS your money within 24 hours when a transfer is made into your Alliance & Leicester current account: or up to 3 working days for transfers to a current account with another provider.
• Online and telephone account.
• No withdrawal charges.
• Available to those aged 16 or over.

Think you should be OK to transfer previous / current funds. Can anyone confirm?

KingL

Seems OK - TnCs 30.31 and 30.32 refer.
http://www.alliance-leicester.co.uk/customer-service/pdfs/Savings-terms-and-conditions.pdf

lewianbra

Thanks... I have seen these already, still not 100% clear how this applies to us... I have decided to give it a try (just put in 3600£ and send them the certificate) and see how they react.
Has anybody got their Icesave ISA money sucessfully in there yet? (Or elsewhere where it was not clear in advance that they are aware of Icesavers?)

Paul_Herring

I'm using mine to transfer my cash to an equity ISA. My current provider has confirmed that they'll accept the certificate.

Cash ISA rates are abysmal at the moment IMO.