First Direct ISA

wilkinho

As the allowances go up next year, does any know if I can change my regular deposit to keep my 7% rate (Ive just opened this account btw so its fixed for a year)

EarthBoy

It seems you got the account just it time as it was withdrawn at the weekend and is no longer on sale.

Although it's a 12 month account, unless you opened it between 6th April and the 5th May it would be impossible to match it to your annual tax free allowance. If you have only just opened yours, it will straggle two different tax years, from now until 5/4/10, and then from 6/4/10 until the account anniversary date.

The terms of the account limit your deposits to a maximum of £3600 overall. I doubt they will change the terms of the account to let you input more after 6th April, especially as they have now withdrawn the account.

wilkinho

cool, thanks makes sense. I wasn't sure if they meant £300 as the total allowance (so after 12months it would be 3,600 for the tear) or £300 as a certain if figure if you see what i'm getting at! but I suppose as its says £300 in the T&C's that what it will be, eh?