first direct cash e-isa

Baldur

typeractive wrote: »

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

Yes, at least for the 2008/9 tax year, if you have not already received and returned their transfer form.

Non-customers will be able to apply again from 6th April, according to the notice on their website - quoted in my above post.

forevergrey

One thing to bear in mind with this product is that it reverts to a miserly 0.2% at the end of the fixed term and First Direct do not usually allow you to transfer into a new ISA. Imperative therefore to find a new provider next year that will pay interest on date of application rather than on receipt of funds.

I only know of Nationwide that do this. Does anyone know of any others?

Natti_A

I generally move all my ISAs in March anyway, although i have put the date in my diary when it drops right down.

Bonus is that i can move my money out before nxt year easily if the interest rates start to rise again!

typeractive

Baldur wrote: »

Yes, at least for the 2008/9 tax year, if you have not already received and returned their transfer form.

Non-customers will be able to apply again from 6th April, according to the notice on their website - quoted in my above post.

Right - well that would be ok as it would be 09/10 I'm looking to invest for.

forevergrey wrote: »

One thing to bear in mind with this product is that it reverts to a miserly 0.2% at the end of the fixed term and First Direct do not usually allow you to transfer into a new ISA. Imperative therefore to find a new provider next year that will pay interest on date of application rather than on receipt of funds.

I only know of Nationwide that do this. Does anyone know of any others?

Do you mean they will not allow me to transfer:

From First Direct >>> to >>> new ISA next year (10/11)

Or,

They don't allow you to transfer in?

I'm running out of time! :S lol
Cheers

Baldur

typeractive wrote: »

Do you mean they will not allow me to transfer:

From First Direct >>> to >>> new ISA next year (10/11)

Or,

They don't allow you to transfer in?

I read the quote as saying that you usually can't transfer into a new Cash ISA with First Direct when the fixed rate term matures (i.e. in 2010) - read the rest of the post:

Imperative therefore to find a new provider next year that will pay interest on date of application rather than on receipt of funds.

I'm running out of time!

Not if you're opening a 2009/10 ISA, as you say - you can't apply for one until 6th April, either with FD or anyone else.

AirlieBird

forevergrey wrote: »

One thing to bear in mind with this product is that it reverts to a miserly 0.2% at the end of the fixed term and First Direct do not usually allow you to transfer into a new ISA. Imperative therefore to find a new provider next year that will pay interest on date of application rather than on receipt of funds.

Be prepared and set up the new ISA a month or so in advance, and state that you want the transfer to take place on a particular date. And to avoid confusion you meant their usual terms is that transfers into another FD cash ISA is not allowed, but of course you can transfer elsewhere as that is a requirement of all ISAs.

forevergrey

AirlieBird wrote: »

Be prepared and set up the new ISA a month or so in advance, and state that you want the transfer to take place on a particular date. And to avoid confusion you meant their usual terms is that transfers into another FD cash ISA is not allowed, but of course you can transfer elsewhere as that is a requirement of all ISAs.

Yes, to be absolutely clear, what I should have said was '...do not usually allow you to transfer to a new ISA with them'. As the poster says, all ISAs are transferable.

cbrpaul

i setup a new first direct cash e-isa this week ,( i am an existing bank account customer) i put some money in from my first direct savings account , all seemed to have gone through and I can now see the new account on my online account page.

I got an email from FD today saying,

" We notice that you have requested a transfer from another isa provider to your new fd isa account , if this other isa account was setup this year we will close your fd cash e-isa account "

What is going on here then ?

A:) I have not opened a another ISA account this FY
B:)I have not placed any funds into the other isa this FY


Also I thought you could open as many isa accounts as you wanted but only deposit upto £3600 per FY anyway ,


..and ,,,

My wife who is joint account holder of our FD account also setup a new cash eisa account but that has not been processed as has mine ???

Gawd knows why they have not setup my wifes cash e-isa yet , and looks like she may miss this years isa quota now !!

Strange FD

Natti_A

You cant pay into more than one ISA in a year, you can transfer the balance to another ISA... but u cant have 3 ISAs, for instance, that you have paid 1200 into each in 08/09. Sounds like your ok though as you havent done this.

FD are taking quiet a while with everything to do with my ISA atm. The transfer has taken 4 weeks (so far) from me requesting the transfer forms, to receiving them, and for them to acknowledge they have received them! The money is still in my A&L account, but i cant chase it for another 2 weeks as they seemed to have held onto my transsfer form for 5 days before doing anything with it!

cbrpaul

Wife just had a call from FD, she could hardly understand the person due to them being from another part of the world , but it looks like they are just about to open her isa account ,

Why they wanted to speak to her personally i dont know

I also had email from FD saying they made a mistake in the laws of the isa and will not close my account down !! :eek:

Do they give their people any training ???