MSE News: Santander pulls top cash Isa from general release

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"Its Flexible Isa pays 3.2% but, from today, is only available to anyone with with a Santander or A&L current account ..."

Read the full story:

Santander pulls top cash Isa from general release

CannyJock

Would it have to be your "main" current account?

So long as you use their switching service to transfer a current account, wouldn't that work just the same? Maybe setup a couple of standing orders to pay yourself a token amount at some date in the future and a switch a direct debit from a dormant credit card? So long as you then meet the funding requirements for their savings or overdraft accounts, couldn't you get around it that way?

snigbob

I signed up for one of these in early April at the start of this tax year and my full ISA allowance for 2010 is now in place. Are they going to close it on me or change my interest rate?? By chance I do have an A+L account but it is not my main account but is sometimes used for other various deposits and transfers.
Looks like I might have to get down to the branch this week to find out...? Any thoughts?

Consumerist

Due to adverse comment, among other things, regarding Santander group throughout this site, I'm thinking of transferring my current account to, maybe, Halifax for the £5/month on offer.

I already have A&L's Flexible ISA and wonder whether they might insist I transfer that to another manager. It seems unlikey but any thoughts anyone ?

lewis89

snigbob wrote: »

I signed up for one of these in early April at the start of this tax year and my full ISA allowance for 2010 is now in place. Are they going to close it on me or change my interest rate?? By chance I do have an A+L account but it is not my main account but is sometimes used for other various deposits and transfers.
Looks like I might have to get down to the branch this week to find out...? Any thoughts?

you dont need to do anything , you will receive the rate promised for 12 months.

Joto_2

They have changed the rules again. You must now have had the current account open for 3 months to be eligible. I took my son in today to open his first Isa and he wasn't eligible.
Next best seems to be Barclays at 3.1 and no you don't have to be a customer

pKaTz

I bank with A&L and saw an advisor at Santander today. She told me that as I did not have a Santander account I could not open a flexible ISA. She even printed out the terms & conditions for me.
I was too late with the A&L Flexible boat, and now they have changed the terms from 4th May.
Even though A&L is in the same group as Santander, because they are not on their system I can't open an account. That can't be right?
Can it?

Consumerist

Unfortunately, banks seem to be a law unto themselves. They can change Ts & Cs at any time they want for new customers so I fear there isn't much one can do about it.