A&L Flexible ISA - what current account is required?

michaels

Santander have decided to hit me with an under funding fee on my premier current account (A&L never did, I move lots of money through the account but sometimes the incoming is just from an A&L savings account).

My question is can I close or downgrade the current account to avoid the under funding rules applying and still keep the flexible ISA as I believe it was only available to premier account holders in the first place (I can't find any T&C for anything A&L on the Santander website any more).

pressuredrop_2

The ISA was available to all. A websearch reveals that a Santander Group current account was required to open the ISA from approx. May 5 2010.

ses6jwg

Yes it is supposed to be any current account with at least 1 direct debit and £1000 going in each month (tbh as long as there are a few direct debits on it and it's not a "fake" Premier Direct you will probably get away with it in most branches)

bufflebear

I don't think that ses6jwg quite knows all the facts about this. I suggest you ask in your branch.

ses6jwg

bufflebear wrote: »

I don't think that ses6jwg quite knows all the facts about this. I suggest you ask in your branch.

Yes I do.

Technically you must have an active Santander group current account, open for at least 3 months with 2 or more direct debits and £1000 going in each month to qualify for the Flexible ISA.

bufflebear

Well i still wouldnt take your word for it. I would visit my branch and get the answer from someone who knows their stuff.

ses6jwg

bufflebear wrote: »

Well i still wouldnt take your word for it. I would visit my branch and get the answer from someone who knows their stuff.

That is the official line. I work for Santander. What a branch will tell you is a different matter.

bufflebear

ses6jwg wrote: »

That is the official line. I work for Santander. What a branch will tell you is a different matter.

This is what gets me with Santander - staff say one thing and then you go in branch and get another line......no offence meant to the staff member, just never get the same answer twice. You have to go in in person and deal direct to see what you can really get! (Just my opinion tho)

blueberrypie

ses6jwg wrote: »

Yes I do.

Technically you must have an active Santander group current account, open for at least 3 months with 2 or more direct debits and £1000 going in each month to qualify for the Flexible ISA.

You need to fulfil those criteria to *open* a Flexible ISA. The t&c prior to early May did not require that the customer hold any other product, so if the OP opened his Flexible ISA with those t&c in force, he could downgrade or close the Premier account (although I suspect he'd also lose access to internet banking if he did the latter).