M&S Money 4% ISA

OneADay

Sam37 wrote: »

Does anyone know whether this account can be viewed through online banking?

I know it needs to be managed by post, but it'd still be nice to see the balance etc online.

Not available to manage online, they send out a certificate in post.

tracker10

Thank you for the reply.
Another question how do i work out what 180 days int is?The reason i ask is Halifax have 4.25% over 5yrs with 180 day penalty.

Baldur

tracker10 wrote: »

Thank you for the reply.
Another question how do i work out what 180 days int is?The reason i ask is Halifax have 4.25% over 5yrs with 180 day penalty.

Deposit * 4.25% / 365 * 180 will give you a rough idea for an example of closure/transfer at the end of year 1, e.g.

£10,000*4.25%/365*180 = £209.59 penalty

coz2099

Stompa wrote: »

That's all I sent, and it was fine.

So you do not need to open an account online first and then send in the transfer form, is that correct?

thanks

tracker10

Thanks again Baldur.

Stompa

coz2099 wrote: »

So you do not need to open an account online first and then send in the transfer form, is that correct?

If all you're doing is a transfer then sending the form is sufficient.

Baldur

tracker10 wrote: »

Thanks again Baldur.

Remember that the example that I gave above was a very quick and very rough idea, the actual penalty would depend upon the balance in the account, which would increase due to the way in which interest is calculated.

So, if the initial deposit plus accrued interest at a certain point had risen to give a balance of £11,329.96 (in roughly 3 years time), the penalty then would be around £237.46.

Richchad

Saw this on the M&S website - Please note that Issue 9 of our Fixed Rate Savings product will close shortly. A new issue offering different interest rates is due to launch on 6 April 2010. Please call 0808 00 22 222 on or after 6 April for further details.

Our LloydsTSB FRISA's mature on 9th April, can we apply now and request transfer on maturity which will be after the M&S issue 9 ends?

Or will a new issue have a better rate?

Apologies if this has been asked before.......

Baldur

Richchad wrote: »

Our LloydsTSB FRISA's mature on 9th April, can we apply now and request transfer on maturity which will be after the M&S issue 9 ends?

You need to ask M&S. I applied in late February for the transfer of my maturing LTSB FRISA to Issue 9 - the LTSB FRISA matures on 30th March,

Or will a new issue have a better rate?

Your guess is as good as anyone else's - my guess would be no.

SallySunshine

Oh no!

Last Friday I sent off my transfer document to M&S from LLoydTSB, but my LLoydTSB fixed ISA's don't mature until 7th April.
Knowing my luck they won't honour this if the date of closure for their 4% rate is 6th.

Will have to get onto them now :eek: