New Tax Year, New ISA - when to open account?

Baldur

Ditch_Crawler wrote: »

.... maybe they re-introduced the offer and then withdrew it again?

If they had, the search on eMoneyfacts would have shown it.

Pound

I have an ISA with Northern Rock which I opened about 3 months ago. The issue is closed so I can't add more funds and there's no other ISAs with a comparable rate so I don't wish to transfer.

Come 6th of April will I be allowed to open a new ISA even though I opened one a few months before and have them both running concurrently? What happens when the NR ISA matures 9 months into the tax year, am I allowed to then accept an offer from NR of opening another ISA or would this not be allowed because I already opened an ISA that tax year?

Ditch_Crawler

Baldur wrote: »

If they had, the search on eMoneyfacts would have shown it.

Maybe, maybe not - on this occasion, I trust my memory! (check out my ps on my previous post)

Ditch

Baldur

Ditch_Crawler wrote: »

(check out my ps on my previous post)

HSBC currently have an 8% Regular Saver that's available to certain account holders - the FD one was introduced last August @ 5% you may be thinking of the Halifax 5% one which reduced in October/November.

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=188859

first direct

REGULAR SAVER launched w.e.f. 26.8.09: a one year fixed term fixed rate regular savings account with a minimum monthly investment of £25 (maximum £300) paying 5.00% on maturity. 12 consecutive payments by standing order required. Only 1 payment permitted per month but this can be amended provided the rolling maximum of £300 per month is not exceeded. Earlier access on closure only with standard Savings account rate being paid. Applicants must hold a first direct 1st account for standing order to be paid from. On maturity transfers to either Everyday e-Saver or Savings account.
03 Sep 2009

Baldur

Pound wrote: »

Come 6th of April will I be allowed to open a new ISA even though I opened one a few months before and have them both running concurrently?

Yes.

What happens when the NR ISA matures 9 months into the tax year, am I allowed to then accept an offer from NR of opening another ISA or would this not be allowed because I already opened an ISA that tax year?

Yes, or transfer it to any other ISA manager that accepts transfers but you will not be permitted to add any further subscription to it in the 2010/11 tax year, as you will have already subscribed your 2010/11 allowance to the account in your first question.

The simple opening of an account with the word 'ISA' in its name does not constitute 'opening an ISA' - the latter requires a valid current tax year's subscription.

Ditch_Crawler

Baldur wrote: »

HSBC currently have an 8% Regular Saver that's available to certain account holders - the FD one was introduced last August @ 5% you may be thinking of the Halifax 5% one which reduced in October/November

If the FD 5% account has been available continuously since last August, then I am surprised it does not appear somewhere in MSE's current list of Best Buys - I guess none of these e-lists is 100% infallible

Ditch

Baldur

Ditch_Crawler wrote: »

If the FD 5% account has been available continuously since last August, then I am surprised it does not appear somewhere in MSE's current list of Best Buys - I guess none of these e-lists is 100% infallible

e-Moneyfacts, unlike MSE, is targeted at financial services professionals, rather than the general public.

You'll probably find the FD RS account in the 'Best Regular Savings Accounts' thread in these forums.

<Edit> Link to above thread - http://forums.moneysavingexpert.com/showthread.html?t=608697&highlight=special_saver2

Ditch_Crawler

Baldur wrote: »

e-Moneyfacts, unlike MSE, is targeted at financial services professionals, rather than the general public.

You'll probably find the FD RS account in the 'Best Regular Savings Accounts' thread in these forums.

I guess the moral of the story is never to rely on a single source of information, especially when 'memory' is one of the sources...

I'm disappointed in MSE though; this is the first time I have looked at the site, and straightaway I have discovered a massive error in it's Best Buy recommendations.

Ditch

Ditch_Crawler

I brought this back to the top because I wanted to emphasise the second sentence in my previous post which I added as an 'edit', and may have been missed by some readers. Thanks.

Ditch

Baldur

Ditch_Crawler wrote: »

I brought this back to the top because I wanted to emphasise the second sentence in my previous post which I added as an 'edit', and may have been missed by some readers. Thanks.

You seem to have missed the sub-heading of the Top Regular Savers Accounts item, as the FD RS account clearly does not meet that criterion and is an 'also ran' in the limited Specialised Alternatives section.

The following accounts are available to both new and existing customers to these banks, and don't require you to hold another product (e.g. current account) with it.