Transfer to natwest e-ISA

PotatoPotato

snowbrow wrote: »

well i can trump you i applied to transfer my isa on 26th march still not been processed!!

Wow, you got me there... What information did you give them when you phoned up? "Hey i sent a transfer form.. !!!!!! IS GOING ON? :mad:" lol!

bagsacash wrote: »

Maybe he/she is of polish origin and Natwest have sent him/her on a 'speak better english' course so as to improve the processing of ISA tranfer applications.

lol!
Have you phoned up and asked yet? Or giving it more time?

^!£$&

Told them my ac num/ sort code and just said that i had sent the transfer form off in march I knew the exact date as I printed off online postage for the letter and so had the receipt to prove the date it was posted!!

Spoke to a very helpful guy who also was concerned why its taken a month, said they would be checking it out and sending me a letter and today I checked my isa with ybs the one I wanted to transfer and its showing 0 balance but my natwest one is showing a 0 balance too, so apparently my money is on the move to my natwest isa and should be showing in my account within 5 working days.
Alot of hassle I know.

bluejulie

I don't seem to understand how ISA works.
I opened an ISA with A&L in Jan 08 and paid £3000 for tax year 2007-08.Then on 7/04/08 I paid another £3600 for tax year 2008/09.Now for this year I haven't put any money into A&L or any bank.I understand the amount is still £3600.
If I open a Natwest e-Isa can I pay £3600 for this year and then transfer my £6600 from A&L from previous years?Or do I just transfer £3600 and this will be my new allowance?

wdyw

snowbrow wrote: »

Spoke to a very helpful guy who also was concerned why its taken a month, said they would be checking it out and sending me a letter and today I checked my isa with ybs the one I wanted to transfer and its showing 0 balance but my natwest one is showing a 0 balance too, so apparently my money is on the move to my natwest isa and should be showing in my account within 5 working days.
Alot of hassle I know.

You would hope so but.... I transferred from A&L last month. Got a letter from A&L on the 8th April to say they had forwarded the funds to Natwest(balance on account then showed zero), and it didn't turn up in my new Natwest Account until April 20th. Even taking Easter into account someone, somewhere, and not me, had been benefiting from my 50k+!!

musehead

boo-boo wrote: »

I don't seem to understand how ISA works.
I opened an ISA with A&L in Jan 08 and paid £3000 for tax year 2007-08.Then on 7/04/08 I paid another £3600 for tax year 2008/09.Now for this year I haven't put any money into A&L or any bank.I understand the amount is still £3600.
If I open a Natwest e-Isa can I pay £3600 for this year and then transfer my £6600 from A&L from previous years?Or do I just transfer £3600 and this will be my new allowance?

You can deposit a fresh £3600 for this years subscription and also transfer your previous years £6600 (+interest) into the Natwest account.

bluejulie

musehead wrote: »

You can deposit a fresh £3600 for this years subscription and also transfer your previous years £6600 (+interest) into the Natwest account.

Thanks for your reply!
Does that mean that I'll be getting tax free interest on the whole amount £3.600 +£6600 from previous years?

rb10

boo-boo wrote: »

Thanks for your reply!
Does that mean that I'll be getting tax free interest on the whole amount £3.600 +£6600 from previous years?

Yes, it does. ISAs are tax-free on the whole balance, including previous years' transfers.

bluejulie

rb10 wrote: »

Yes, it does. ISAs are tax-free on the whole balance, including previous years' transfers.

Thanks very much!
I didn't know that.I thought you get interest only on the new amount of £3600.

supersaver09

Colin_London wrote: »

I phone up tonight, but apparently nobody can help until 8am tomorrow.

I pointed out that it was a poor show, as if I hadn't bothered with this initial balance transfer option, I could have transferred the money instantly via online banking as soon as the account appeared there. It was suggested that I make another payment as even if the paper transfer went through I wouldn't lose any money as 'you can only pay in £3600 a year'........

That's what i want to know - my account's been opened with the initial £1 deposited. I've got the account no. & sort code - but i've been waiting since the 8th April for the actual transfer of funds from my Egg ISA.
Can i now just manually Bacs the money from my Egg account, to my Natwest E-ISA? Or do i have to wait for Natwest to transfer it?

suttonsaver

Colin_London, you have to wait for NatWest to do the transfer, otherwise you'll lose the tax-free status of the funds.

I'm still waiting for NW to transfer money from an old NW ISA to my new e-ISA.