Northern Rock FRISA 1-yr 3.50% - GONE

datostar

Looks like I MAY have got my application in on time. I posted it last Thursday along with a Transfer Form for a 2008/9 M&S ISA. Got a letter from Northern Rock this morning saying they have sent the transfer form but if funds not received within 30 days of withdrawal of the NR ISA they will contact me to inform me of any new products they have available. If this happens does this mean I will have lost the M&S ISA and will be stuck with whatever NR can offer?

jennifernil

We got the same letter today (we have both applied), so are also wondering what we can do if the Halifax hold up the transfer. Doesn't help being so close to Christmas. Fingers crossed it goes through OK.

Gorgeous_George

They do a stepped ISA paying 3.75% in year 1, 4% in year 2 and 4.5% in year 3.

GG

frankie

Following my post 2#, received notification that my ISA has been transferred from my original provider (Halifax) to NR. Managed to beat any postal gremlins!

Just hope all goes well at NR now!

jennifernil

After reading the above post, I logged on to Halifax and see that my ISA is now marked as "closed", so presumably thety have instigated the transfer to NR. Looks like it will go through within the 30 days.

My husband's one is showing the same, they both matured on the 15th.

boobbby

jennifernil wrote: »

After reading the above post, I logged on to Halifax and see that my ISA is now marked as "closed", so presumably thety have instigated the transfer to NR. Looks like it will go through within the 30 days.

My husband's one is showing the same, they both matured on the 15th.

Snap!! Mine actually matured at 5.25% so Halifax then moved it to a 0.1% about a week ago. Mine is now also marked as closed so I presume NR will get the cheque in time to get the 3.5% rate. I just don't understand why this can't be carried out electronically !! Mind I also think NR should allow their ISA accounts on the internet like their other saving accounts!!

Optimist

boobbby wrote: »

Snap!! Mine actually matured at 5.25% so Halifax then moved it to a 0.1% about a week ago. Mine is now also marked as closed so I presume NR will get the cheque in time to get the 3.5% rate. I just don't understand why this can't be carried out electronically !! Mind I also think NR should allow their ISA accounts on the internet like their other saving accounts!!

I was under the impression that ISA funds can be transferred bank to bank by BACs nowadays.

I agree about not being able to view the NR ISA account on line it gives a warmer feeling than just having that bit of paper they send out!

Edit I thought so it changed some time ago LINK

jennifernil

Yes, but not all banks do use BACS. I think Halifax may do as last time I transferred from them it went through quite quickly.

boobbby

jennifernil wrote: »

Yes, but not all banks do use BACS. I think Halifax may do as last time I transferred from them it went through quite quickly.

You could be right with the Halifax but NR may not, so Halifax might have to send a cheque. I did phone NR as my Halifax ISA account was closed but they said thay hadn't received the money!

cottager

Optimist wrote: »

I thought so it changed some time ago LINK

Very useful link, thank you!