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Natwest ISA Monthly Interest counting towards ISA allowance?
miele_2
Posts: 118 Forumite
I have only just noticed this but it appears that the monthly interest on my Natwest ISA (which is added directly into the ISA account) is counting towards my ISA allowance. I noticed this after checking my balance online and noticing that the 'deposits so far' and 'deposits allowed' amounts had adjusted due to the monthly interest being added.
Surely this shouldn't be so?
Surely this shouldn't be so?
:hello: Trying my best to money save! :j
:grinheart Sealed Pot Challenge 6 #2100 :grinheart
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Comments
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No it shouldn't. This isn't happening to me, although my 'deposits so far this year' is already showing as £3600.0
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I thought so too.
After transferring my ISA in from Abbey it actually showed the correct amounts. Only this month the amounts have bizarrely altered.
Oh dear, I don't fancy going into the branch to complain again.:hello: Trying my best to money save! :j:grinheart Sealed Pot Challenge 6 #2100 :grinheart0 -
I figured it out! It was the backdated interest that Natwest had promised me! This had been added to my account and somehow counted as a deposit and so ate into my yearly allowance.
:hello: Trying my best to money save! :j:grinheart Sealed Pot Challenge 6 #2100 :grinheart0 -
You should still get that changed if you want to put in the full £3600 yourself this year. My backdated interest went in ok and I had already transferred in a fully subscribed ISA.I figured it out! It was the backdated interest that Natwest had promised me! This had been added to my account and somehow counted as a deposit and so ate into my yearly allowance.0 -
Interest earned in a cash ISA does not count towards the annual ISA allowance, currently £3,600.0
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