ISA rates: hold out or open now?

Nine_Lives

Lokolo wrote: »

Only problem is that some ISAs require a deposit.

A lot of the ones i've been looking at say they're to be opened from £1 onwards.

In fact, i've not seen any where you can open with £0.00


So i wonder how these people open, but don't contribue/pay in/deposit

Lokolo

K_P83 wrote: »

A lot of the ones i've been looking at say they're to be opened from £1 onwards.

In fact, i've not seen any where you can open with £0.00


So i wonder how these people open, but don't contribue/pay in/deposit

You say you want to do it by transfer.

Transfer counts as a deposit usually.

Consumerist

K_P83 wrote: »

A lot of the ones i've been looking at say they're to be opened from £1 onwards

This refers to the initial deposit. They don't normally stipluate when that initial deposit has to be made. This is often the case if you intend to fund the ISA by transferring-in from an existing ISA. Until the initial deposit is made, the ISA has technically been opened with £0.00

It is true, however, that some ISA applications have to be accompanied by a cheque for the opening deposit. In these cases, I agree, you can't apply without making a contribution.
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