Icesave ISA into HSBC e-ISA?
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Fella
Posts: 7,921 Forumite
Hi there,
My brother is an Icesave veteran & has his ISA reinstatement certificate for approx £5,000. The money is currently in his HSBC current account.
I'm looking for the quickest simplest way he can open an ISA & transfer that £5K into it before the 5th April 2009 deadline & the HSBC e-ISA looks a reasonable candidate.
Quick questions:
- Anyone done this?
- Is it deffo allowed? I can see that the HSBC e-ISA allows transfers in but haven't found any detailed info on any limits they may have or whether transferring from an ex-Icesave account is OK.
- Any ideas what he'll need to do to get this done? I understand that the account must be opened online but obviously they need to be presented with his Icesave cert - not too certain how that occurs or whether it's going to be an issue beating the deadline?
- Finally - he'd only used up about £1800 of his 2008-2009 allowance. Can he do the above AND pay in the rest of his 2008-2009 balance to HSBC before 5th April?
very many thanks if anyone can help.
cheers
Fella
My brother is an Icesave veteran & has his ISA reinstatement certificate for approx £5,000. The money is currently in his HSBC current account.
I'm looking for the quickest simplest way he can open an ISA & transfer that £5K into it before the 5th April 2009 deadline & the HSBC e-ISA looks a reasonable candidate.
Quick questions:
- Anyone done this?
- Is it deffo allowed? I can see that the HSBC e-ISA allows transfers in but haven't found any detailed info on any limits they may have or whether transferring from an ex-Icesave account is OK.
- Any ideas what he'll need to do to get this done? I understand that the account must be opened online but obviously they need to be presented with his Icesave cert - not too certain how that occurs or whether it's going to be an issue beating the deadline?
- Finally - he'd only used up about £1800 of his 2008-2009 allowance. Can he do the above AND pay in the rest of his 2008-2009 balance to HSBC before 5th April?
very many thanks if anyone can help.
cheers
Fella
0
Comments
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Quick questions:
- Is it deffo allowed? I can see that the HSBC e-ISA allows transfers in but haven't found any detailed info on any limits they may have or whether transferring from an ex-Icesave account is OK.
The HSBC rate is pretty poor - if he can make do with up to 4 withdrawals, he could open the Halifax ISA Saver Direct Reward (3% fixed for 12 months & additional deposits permitted) and carry out the transfer in branch straight away with at most a couple of pieces of ID.- Finally - he'd only used up about £1800 of his 2008-2009 allowance. Can he do the above AND pay in the rest of his 2008-2009 balance to HSBC before 5th April?0
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