A&L ISA Transfer complete... but not without questions

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
4 replies 1K views
SillychuckieSillychuckie Forumite
1.2K Posts
Part of the Furniture 1,000 Posts Combo Breaker
✭✭✭
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hurrah, at last... my Abbey ISA funds have reached my A&L account.
Abbey received my ISA request on 03-May-06, and it has at long last reached my A&L account (onine banking) on 17-May-06.

Fortunately, A&L have back dated it, so it shows on my statement as being deposited on 08-May-06, meaning I have lost 5 days interest only.
I say only, but it is still a fair amount. :( Still, not much I can do about that.

Anyway, the interest on my Abbey ISA was always paid into a separate current account (barclays one, not that it is relevant to the question). What this meant is that on the 3rd-May-06 when Abbey closed my ISA, they paid me any final interest owed (into Barc acc't).
My question is this...
The funds that have entered my A&L account as a result of the transfer, is greater than the final balance within the Abbey ISA I transferred it from.

There is a £6.27 difference, in my favour. Where might this money have come from (not that I'm complaining)... ?
Abbey would have no reason to add it, and I'd have thought A&L would hold off any interest payments until much later on. It is paid annually, is it not? (A&L ISA Issue2).

Cheers.

Replies

  • SillychuckieSillychuckie Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭
    Oops. If a mod could move this to the correct location,
    "ISAs, Toisas, Peps & Tessas" forum, i'd appreciate it.
    Probably won't get an answer here.
  • codetowncodetown Forumite
    685 Posts
    What was the original sum? Knowing it we might calculate what the 6 pounds corrispond to. My guess is that the Abbey people did not realise you were getting interest on a different account when they closed the ISA and so they sent the ISA+interest to the new provider, regardless of some extra interest then being also given to you on the external account.
  • redfoxredfox Forumite, Board Guide
    15.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Oops. If a mod could move this to the correct location,
    "ISAs, Toisas, Peps & Tessas" forum, i'd appreciate it.

    moved for you :)
    I'm a Board Guide on the Quick Grabbit, Food Shopping & Groceries and Shop but don't drop boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this) Any views are mine and not the official line of MoneySavingExpert.

  • SillychuckieSillychuckie Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭
    Nevermind, really isn't that big an issue. Was just mildly curious.
    Someone must have added something to it somewhere along the lines. Lucky me.
This discussion has been closed.
Latest MSE News and Guides

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides

Cinema MoneySaving tips & tricks

Including year's 2for1 movies for £1

MSE Deals