santander flexible isa 3.5pc coming off sale

usedandabused

i just rang that line only accepting isa for flexible ones for 09/2010

Jimmyc

I just called them and got through to a UK call centre and they said they aren't accepting any new accounts for next tax year. She seemed more interested in signing me up for a fixed rate account though.

Jimmyc

Also just tried to get through to a branch to see if they can do it for me, but they said they didn't have any slots, and just pop down and wait my turn they might be able to squeeze me in.

not sure if really want to do this as i might be wasting my time

curlygirl1971

Putting in £5100 into an account for 12 months at 3.5% = £178.5 interest
£5100 into an account for 12 months at 3.2% = £163.20 interest

So the difference is a maximum of £15.30 (Actually will be a little less as I believe the 3.5% accounts are only rate effective until early March whereas the 3.2% will be effective until a month after)

A lot of people have quite rightly said 'Don't stress it's only £15' and I think at this point that's the correct way to think. I think many of us get caught up in rate fever especially as rates are so low at the moment.

However if you do have the time and inclination to get yourself an extra £15 then do it - By bothering to move my money around and getting slightly better interest here and there and also by going through the hassle of switching my current account I reckon I've made at least an extra £320 in the last 12 months

ctdctd

Jimmyc wrote: »

not sure if really want to do this as i might be wasting my time

I tried three times on the phone on Sunday for the 2010/11 year - no joy each time. Gave up after that as the difference over a year for 3.5% instead of 3.2% is only £15 or so. Really not worth a visit to a branch IMO.

geordie_ben

curlygirl1971 wrote: »

Putting in £5100 into an account for 12 months at 3.5% = £178.5 interest
£5100 into an account for 12 months at 3.2% = £163.20 interest

So the difference is a maximum of £15.30 (Actually will be a little less as I believe the 3.5% accounts are only rate effective until early March whereas the 3.2% will be effective until a month after)

A lot of people have quite rightly said 'Don't stress it's only £15' and I think at this point that's the correct way to think. I think many of us get caught up in rate fever especially as rates are so low at the moment.

However if you do have the time and inclination to get yourself an extra £15 then do it - By bothering to move my money around and getting slightly better interest here and there and also by going through the hassle of switching my current account I reckon I've made at least an extra £320 in the last 12 months

i'd say everyone needs to remember 2 things, 3 in fact.... every penny counts, go for the 3.5%, but, dont stress yourself out trying to get the higher rate. if you get the lower one take £1 and try and turn it into that £15, and lastly most importantly, dont believe the weatherman! :rotfl::rotfl:

pksaraf

i just tried ringing them. their automated message says that only proceed if you want to open the account for CURRENT tax year and can fund the isa immediately with GBP1?

If this is the case, then how have people managed to open one for the next year?

curlygirl1971

Hi pksaraf

When I rang on Sunday there was no such message - they've obviously changed things then. If you are really bothered then get through to speak to someone and ask

SFA_AOK

So I've just got back from a branch opening one at the 3.5% rate :j

I went in around noon and was told there would be a long wait. I asked for confirmation on the rate - 3.5%. There were posters up saying the same. I didn't have my NI number on me so I asked if I could hold my place in line whilst I went and got it, which was fine.

Upon returning to the branch, the posters had been changed, but I was assured I would still get 3.5%. When I eventually sat down with an adviser, he said the systems were being pounded and were slow or, as it was before lunch, not working at all. In the latter case, they need to do the paperwork by hand, so the account isn't set up until the paperwork is processed later. Thankfully it was working long enough for my application to go through.

The response from the staff in branch was that they didn't know when the rate was going to change, so from my experience, I'd say that 3.5% is still the rate in branch, but that could change any moment. My branch wasn't taking appointment bookings, operating on a first come, first served basis. If you want to nab an ISA at this rate, head down to your local branch first thing tomorrow morning...

NeverInDebt

Off phone from them just now

They will only honour applications via appointments made today or promise of a call back today