HALIFAX ISA Direct Reward

Gep

Hi,
I have transferred my existing cash ISA in April into an Halifax ISA Direct Reward, which allows 4 withdrawals per year.

In April I have deposited the maximum amount allowed £3600.
A few days ago (June) I have withdrawn £3600 and I was wondering whether it's possible later in the year to make other deposits.

By looking at the online banking system it says "Amount Left to Invest = 0" so I assume I won't be able to add anything to this ISA until April 2010, but I was wondering if anybody on here knew anything about it.

I read the small print, but I couldn't find anything useful and I don't want to ring them on the phone, where they will keep me waiting forever on a 0845 number...

Baldur

You will not be able to pay ANY new money into a Cash ISA (whether it's the Halifax one or any other) until 6th April 2010 onwards.

The annual ISA allowance is just what it says, 'annual' - that's why you see warnings on these boards advising that the last place from which you should withdraw funds is a Cash ISA.

TREVORCOLMAN

However, when the new limits were announced in the Money Grab (I mean Budget) this MAY allow you to add some money later in the year.

opinions4u

If your initial £3,600 was deposited on or after 6th April, then you won't be able to deposit again this tax year.

Clearly this may be adjusted for the over 50 / £5,100 thing when the clear detail of that becomes available.

If you've reduced your balance below £1,000 you have lost the 3% fixed rate on the product anyway.

SuperOwl86

I have a question about this sort of isa towards end of April i put a transfer request in which has gone through and i have all my money in the new account in Halifax but it says it is a Halifax ISA Saver.

Is this right?

LongTermLurker

SuperOwl86 wrote: »

I have a question about this sort of isa towards end of April i put a transfer request in which has gone through and i have all my money in the new account in Halifax but it says it is a Halifax ISA Saver.

Is this right?

Go into the account and look next to your name - mine says ISA saver on the front page but ISA Direct Reward inside.

jimbow25

Gep wrote: »

Hi,
I have transferred my existing cash ISA in April into an Halifax ISA Direct Reward, which allows 4 withdrawals per year.

In April I have deposited the maximum amount allowed £3600.
A few days ago (June) I have withdrawn £3600 and I was wondering whether it's possible later in the year to make other deposits.

By looking at the online banking system it says "Amount Left to Invest = 0" so I assume I won't be able to add anything to this ISA until April 2010, but I was wondering if anybody on here knew anything about it.

I read the small print, but I couldn't find anything useful and I don't want to ring them on the phone, where they will keep me waiting forever on a 0845 number...

If it was before 5th April you paid the money in you should be alright as you'll still have this year's full allowance. If it was 6th April or later as post #2 and #4 said, you won't be able to pay into an ISA until 6th April next year.

I wouldn't trust the thing that says how much of your allowance is left, on its own, though because mine incorrectly says £0.00 at the moment when I haven't used any of the allowance (it seems to go wrong and then go right again sometimes). If you are unsure which year's allowance you used check your statements or give them a call.