first direct cash e-isa

typeractive

Hi all,

Just wondering if many people are going for this ISA? I would go for the Barclays ISA (as I'm an account holder), though it does not let you transfer previous ISA's in :mad:.

So this seems to be the next best fixed cash ISA (having not done a heap of research). Does anyone know if you need to have a current account to open one of these accounts? I'd basically like to:

Transfer my exisiting isa cash into a good fixed rate isa
Add a new tax years amount
Have easy access without penalties

...think that's it. heh

Cheers

Andy_Ches

you can only open it if you are a first direct 1st account (bank account) holder, for this current taxy year anyway. Not sure if it will change for next year.

typeractive

hmmm - this seems to be the case as in previous years where I have done similar things. does this account have any stipulations such as paying in your salary etc?

I guess there's always a catch! I'd just like something simple to setup and transfer. Barclays would be ideal if I could transfer my current ISA savings!

Cheers

Andy_Ches

you have to pay in £1,500 a month or maintain an average balance of £1,500 or hold another 'eligible product' to avoid a £10 monthly fee.

oxenryd

Andy_Ches wrote: »

you have to pay in £1,500 a month or maintain an average balance of £1,500 or hold another 'eligible product' to avoid a £10 monthly fee.

As per other threads, there is no requirement to have a current account for this ISA. I have opened it and have no other accounts with First Direct.

typeractive

cool - thanks oxenryd

looks like it's still worth looking into!

cheers

Andy_Ches

oxenryd wrote: »

As per other threads, there is no requirement to have a current account for this ISA. I have opened it and have no other accounts with First Direct.

Strange, it also says on First Direct Website you must be an existing customer to open this type of account....

Baldur

Andy_Ches wrote: »

Strange, it also says on First Direct Website you must be an existing customer to open this type of account....

That's an interpretation of what it says (an incorrect interpretation).

The cash e-ISA is currently only available to first direct customers for the 2008/2009 Tax Year.

You will be able to apply for the 2009/2010 Tax Year from 6 April 2009.

It was open to applications from non-First Direct customers until a couple of weeks ago, when it was restricted to 'customers only' - presumably because of the popularity of the product.

Andy_Ches

I wasn't aware it had previously been open to non first direct customers.

Natti_A

Yeh it was. I applied 3 weeks ago, and have no accounts with FD. They closed the app after i applied, to non FD customers, at least for this tax year!

I was v lucky to apply when i did!!

typeractive

ah - does this mean it is now too late? :eek: