Aldermore (Ruffler) Bank Reducing ISA rate from 3.15% to 2.80 %

OneADay

Old_Slaphead wrote: »

I can't see why M&S are asking for transferring banks sort code on their application. Thought Gov't regs where that monies had to be transferred between old and new providers by cheque. Is that still not the case?

I queried Aldermore via email and they said that the account carries no sort code :eek:
They are going to send me a direct debit form to set up a linked account if I want to withdraw money from the ISA.

I think I will hold fire at least till I get to grips with the linked account and fingers crossed for improved ISA rate offerings in March/April.

mr_fishbulb

OneADay wrote: »

They are going to send me a direct debit form to set up a linked account if I want to withdraw money from the ISA.

Don't do that!!!! You will lose all the tax free status of the money as you will be withdrawing it from the ISA rather than it being transferred to another provider.

OneADay

mr_fishbulb wrote: »

Don't do that!!!! You will lose all the tax free status of the money as you will be withdrawing it from the ISA rather than it being transferred to another provider.

No chance of me doing that ! I have built up the isa over many years (was even a Tessa once ).

Do wonder now what the heck is the point though - I did try stocks and shares element a couple of times over the year and never fruitful. It seems like the government actively encourages people to gamble on stocks.

Sticking to Cash Isa - and hoping for better rates.

Old_Slaphead

OneADay wrote: »

No chance of me doing that ! I have built up the isa over many years (was even a Tessa once ).

Do wonder now what the heck is the point though - I did try stocks and shares element a couple of times over the year and never fruitful. It seems like the government actively encourages people to gamble on stocks.

Sticking to Cash Isa - and hoping for better rates.

This government wants everone to either give their money to the City (so they can recoup 50% from the tax on bonuses) or to spend it so's they get the VAT.

They have absolutely no interest in anyone saving for their old age - they want us all dependant upon the state and hence the Labour Party.

fizzypop

The option for fixing for one year at 3.15% is fast approaching at 12 Feb 2010 for existing customers.
Any further thoughts or is everyone staying at 2.80% at 30 days notice?

mr_fishbulb

fizzypop wrote: »

The option for fixing for one year at 3.15% is fast approaching at 12 Feb 2010 for existing customers.
Any further thoughts or is everyone staying at 2.80% at 30 days notice?

I'm taking most of mine out this year for a housing deposit, but if I wasn't then I'd probably wait a round and see what offers come up from other places closer to end of tax year.

darren72

I notice that their website is still showing the higher rate for this account !!

http://www.aldermore.co.uk/savings/historic-rates.aspx