First Direct fixed ISA advice

Any

Hi guys,

Last year I opened fixed 4% ISA with First Direct (not regular saver) and only after I found out that I cannot withdraw money over the internet as I don't have their current account. You have to do it via telephone banking (which was set up but never used since).

I didn't need the money anyway, but now it looks like I might need them however it also looks like if I will I will need them fairly quickly... (while I will be also canceling the account as it will convert to rubbish rate).

Anyone with the same ISA withdrew any money? Any idea how long it takes?

lisyloo

Are you sure you want to withdraw.
If you want to keep it in an ISA wrapper you must "transfer" it using transfer forms.
If you withdraw you lose all ISA benefits.

Withdrawing from FD is instant for me (to Nat west).
If you transfer I suggest you start it one month before the fix rate ends as it can take that long to transfer. It can take more or less. So it's a trade-off between gettting a rubbish rate at FD and losing the 4%. Personally I would err to doing it early as you'll lose more on their rubbish rate.

Any

lisyloo wrote: »

Are you sure you want to withdraw.
If you want to keep it in an ISA wrapper you must "transfer" it using transfer forms.
If you withdraw you lose all ISA benefits.

Withdrawing from FD is instant for me (to Nat west).
If you transfer I suggest you start it one month before the fix rate ends as it can take that long to transfer. It can take more or less. So it's a trade-off between gettting a rubbish rate at FD and losing the 4%. Personally I would err to doing it early as you'll lose more on their rubbish rate.

I am definitely sure I want to withdraw. I need the cash as I said in my original post.

I don't have the date when I will need the money yet but the chances are that once I know the date I will need the money within couple of days, so I am checking how long could it take....

I sent secure message to them but still no reply.