New isaver from IF - 2.85%

giger

Just to add my $0.02, i've been with IF for years and on the whole have found them good. It takes on average 4 days to make deposits from my linked none IF account and about the same time to get it back out again. However I recently opened up a new ISA with them and this has taken some time, my initial deposit has taken over 10 days now but I have still been able to move money in from my I-saver after only a few days.

Don't forget that the initial deposit is generally by D/D, and as well as the IF lead time you also have your own banks lead time to factor in.

I think a bit of patience is required guys as they are obviously swamped atm as their rates are so good. They are on the whole a good company, online banking is a bit clunky but it's OK once you have it figured out

dougs

giger wrote: »

as their rates are so good.

sad state of affairs (of savings returns) when 2.85% is classed as good _pale_

YorkshireBoy

hansi wrote: »

Wonder of wonders! My £1 has left my bank by way of DD. Wonder how long it will take to reach my IF account! Won't hold my breath:mad::mad:

DD is simultaneous debit/credit so should be there now, although IF may quarantine it for a few days as is normally the case because DD's can be recalled by the source bank.

hansi

Actually, it is already showing in my IF account. It may be that the delay was caused by it being the initial payment. I've just done another transfer today, see how long that takes:rolleyes:

YorkshireBoy

hansi wrote: »

Actually, it is already showing in my IF account. It may be that the delay was caused by it being the initial payment.

It's not uncommon for the first deposit made by DD to any savings account to take 8 days or so...plus another 3/4 days wait for it to become 'cleared' funds.

I've just done another transfer today, see how long that takes:rolleyes:

You'll find that future deposits happen much quicker, ie request Monday/arrive Wednesday...'available' some time the following week (timescales in the T&C's).

amictus

4_Pete's_Sake wrote: »

With the I-Saver you also need to have an IF Current account to easily transfer money in and out of the account online. It transfers instantly into the C/A and is immediately available for you to transfer it to another bank or take it out from a cashpoint.

I'm still in the process of getting my account set up, but I can't really see the advantage of using an IF current account to transfer money to or from an isaver account. Even though transfer is instantaneous between the IF current and isaver accounts, you still have the same delay associated with transfer from an external account into the IF current acount, right? The only way to get around this would be to switch to IF as your main current account. I don't think I'd ever use anything other than a high street bank for that sort of thing.

hansi

You do not need an IF current account to set up an I-saver account.

dov

Although you don't need an IF c/a, transferring from an external bank to IF via debit card is instant as I mentioned earlier.

dov wrote: »

You can transfer money to IF c/a using a debit card via telephone banking which is instant and then from c/a to iSaver online which is also instant.

amictus

hansi wrote: »

You do not need an IF current account to set up an I-saver account.

Yes thanks, I actually meant I that my isaver account was being set up. I was really trying to find out why people would want to set up a IF current account, as I couldn't see any benefit.

dov wrote: »

Although you don't need an IF c/a, transferring from an external bank to IF via debit card is instant as I mentioned earlier.

I guess missed that!

Doomcow

hansi wrote: »

Actually, it is already showing in my IF account. It may be that the delay was caused by it being the initial payment. I've just done another transfer today, see how long that takes:rolleyes:

bet it wont arrive and show till monday / tuesday