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Transfered money from ISA in error

burnt_imp
Posts: 6 Forumite
I'm just looking for some general advise...
I just recently opened all my accounts at abbey, Yesterday lunch i deposited my yearly allowance for my Direct ISA at Abbey of £3600. i then logged on in the evening to check all was good an to move some money from my current account to an eSaver, in error (or through not reading carefully)
i moved a chunk of my savings in my ISA to my eSaver.
I visited my branch this morning to check if there was a way i could reverse what had happened... but because i had moved my full allowance into my ISA 4 hours previous to this, i have snookered myself by not being able to move the money back due to revenue etc.
Also by moving the chunk of money out of my eSaver i will not receive the full rate of interest offered on the account for this month.
Has anyone had any experience of this??? Or managed to rectify a problem similar? In all I'm pretty disappointed in myself as i have spent some time making sure all my accounts are in one place and that i look after my saving, through clicking a mouse too repeatedly yesterday afternoon i think i have now ruined my savings!!!
I just recently opened all my accounts at abbey, Yesterday lunch i deposited my yearly allowance for my Direct ISA at Abbey of £3600. i then logged on in the evening to check all was good an to move some money from my current account to an eSaver, in error (or through not reading carefully)

I visited my branch this morning to check if there was a way i could reverse what had happened... but because i had moved my full allowance into my ISA 4 hours previous to this, i have snookered myself by not being able to move the money back due to revenue etc.
Also by moving the chunk of money out of my eSaver i will not receive the full rate of interest offered on the account for this month.
Has anyone had any experience of this??? Or managed to rectify a problem similar? In all I'm pretty disappointed in myself as i have spent some time making sure all my accounts are in one place and that i look after my saving, through clicking a mouse too repeatedly yesterday afternoon i think i have now ruined my savings!!!
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Any money taken out of an ISA can not be put back in again................................I have put my clock back....... Kcolc ym0
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You might be able to get away with redepositing the money into a new ISA under the self transfer rules. The HMRC website is very self-contradictory about this, as it says it isn't allowed but gives detailed instructions as to when it is allowed, which seems to be most of the time.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
I'm just looking for some general advise...
I just recently opened all my accounts at abbey, Yesterday lunch i deposited my yearly allowance for my Direct ISA at Abbey of £3600. i then logged on in the evening to check all was good an to move some money from my current account to an eSaver, in error (or through not reading carefully)i moved a chunk of my savings in my ISA to my eSaver.
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IN theory yes you've snookered yourself. No idea whether it could in practise be reversed, but I would get onto the phone to Abbey ASAP and ask to speak to someone senior and make sure that they log the call AND write a letter as immediate documentary evidence that it was a mistake. Longer you leave it before getting written/recorded evidence in place the more it will look like a change of mind rather than a genuine error.
Quite possible this is not the first time its happened and Abbey may know the procedure for making a special case to HMRC. After all, you've put all you're money with them by the sounds of it so they ought to want to help0 -
Thanks for your feedback...
I wouldn't even know where to start in writing a letter to Abbey. I did call them yesterday and the call centre representative seemed less than concerned about my predicament.
I did suggest this morning to the advisor in the branch that if i closed the isa now... and opened a new one on the 6th April and deposited a lump some into it?? But he seemed to think that i could only open the isa with £3600.
So there could be a way of reversing the charge if i get in touch with the HMRC??0 -
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I'm just looking for some general advise...
I just recently opened all my accounts at abbey, Yesterday lunch i deposited my yearly allowance for my Direct ISA at Abbey of £3600. i then logged on in the evening to check all was good an to move some money from my current account to an eSaver, in error (or through not reading carefully)i moved a chunk of my savings in my ISA to my eSaver.
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ffacoffipawb wrote: »
Typical Abbey.0 -
This is my first and only ISA... i have not paid any more than £3600 into this tax year.
I accidently moved money from the ISA instead of my Current Account. The problem is 4 hours previous to this, i had only just deposited £3600 into the ISA!!
Ultimatley i did not want my ISA savings in my eSaver... i just want to reverse the transactions... and pretend it didnt happen!!0 -
This is my first and only ISA... i have not paid any more than £3600 into this tax year.
I accidently moved money from the ISA instead of my Current Account. The problem is 4 hours previous to this, i had only just deposited £3600 into the ISA!!Oops sorry I misread your original post.:o
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