Abbey ISA at 4.6%

smallbus

Still no welcome pack but got my bankstatements returned along with a receipt for the cashed cheque. The receipt actually has an account number on it, so the next thing to try is calling them up and seeing if I can move some money in to it.

aussielle

At last, letter of confirmation to say my account is now open!

Took just under 7 weeks

Chillum

Hello,

Has anyone actually had confirmation of money being deposited into their Postal ISA account?

In this tax year I am aiming to transfer my current ISA as well as taking out this year's ISA cash allocation.

So far I have recieved confirmation that my account has been opened and that the money contained within my current (now old) ISA has been withdrawn. The thing is, after checking with the Abbey, the withdrawn funds have not been shown to be in the Postal ISA account.

I went to see them about this today and was told that although the money is not shown to be in the account, they informed me that the money will be gathering interest and that the money will be shown to be in the account within the next month or so.

I do however still feel uneasy at the thought that my money has been withdrawn from my previous ISA provider but no confirmation of where my money currently is.

With regards to taking this year's allocation, I decided to do this by direct debit and as of earlier today, the money is still there in my current account waiting to be taken by the Abbey.

Should I do doing a lot more complaining? If so, to anyone in particular?

On a related note, I checked the Abbey website yesterday and it said the interest rate was now 4.85%. After hearing about the 0.25% interest rate increase, I would expect the Postal ISA interest rate to move to 5.1% by next month or so.

isasmurf

On a related note, I checked the Abbey website yesterday and it said the interest rate was now 4.85%. After hearing about the 0.25% interest rate increase, I would expect the Postal ISA interest rate to move to 5.1% by next month or so.

If this report is anything to go by
"LONDON (AFX) - Abbey National PLC, the UK's number two home-loan lender, said it had raised its key standard variable mortgage lending rate by 0.25 points to 6.5 pct.

In a statement the company said both its variable mortgage and savings rates will rise by the same margin."
Source: Ample

bonecold1

The Abbey Postal ISA is going up to 5.1% on 1st July.

keithwjones

Contacted Abby on 0800 174 635 to transfer an ISA.

They are sending me the forms.

There is still a 4 week delay.

smallbus

Contacted Abby on 0800 174 635  to transfer an ISA.

They are sending me the forms.

There is still a 4 week delay.

Go to a branch and complete the forms. They should open the account on the spot. It will probably still take 4 weeks to transfer the isa though.

keithwjones

Went in to local branch - waited 5 mins - they then opened the account all within 10 mins. Good Service.

Now waiting for money to be transfered.

Make sure that you take plenty of identity documents.

Chillum

Finally received confirmation that the money from my old ISA has been transferred to my Abbey one.

Finally!

All I need now is for them to remove this year's allocation from my account and it will all be done and dusted for this year.

Only three and a bit months late....

aagoren

At last, letter of confirmation to say my account is now open!

Took just under 7 weeks

I opened my ISA with Abbey - actually ask to transfer the ISA from another provider.
They opened it immediatly.
However the previous provider required monthly deposit with maximum of one deposit missing to get the highest rate otherwise intrest dropped.
As they (Abbey) promiss to transfer in 4 weeks i wasn't worrid.
As they open the ISA I couldn't deposit anymore in my older provider's account.
After 4 weeks when they didn't transfer the money I called to the complain department to complain.
After 2 weeks or so I got a letter from Abbey with appology and they told me that they deposit £20 into my ISA.

So if it take longer than 4 weeks to transfer the money from the older provider complain, you may get some compensation ;D.