Halifax ISA 3.00% AER now available.

ceh209

I've just opened this ISA and will be transferring in from another provider (having already fully subscribed this year).

However looking at the account on internet banking it says my balance available to invest is £3,580!! Where has it got that from?? :rotfl:

glider3560

ceh209 wrote: »

I've just opened this ISA and will be transferring in from another provider (having already fully subscribed this year).

However looking at the account on internet banking it says my balance available to invest is £3,580!! Where has it got that from?? :rotfl:

See post #13 and #15 here: https://forums.moneysavingexpert.com/discussion/3042792
Today my balance available is invest has changed to the correct figure of £756.96 and is no longer Enquiry Only Service (seems it takes 2 days to sort out).

10_66

ceh209 wrote: »

I've just opened this ISA and will be transferring in from another provider (having already fully subscribed this year).

However looking at the account on internet banking it says my balance available to invest is £3,580!! Where has it got that from?? :rotfl:

Mine's done exactly the same. I rang Halifax to tell them about it and they said give it 48 hours to "settle".

I have to say, having read the complications on this thread about when the bonus will get paid (ie, if you have to leave a £1 in the account to qualify for the bonus if you want to transfer the rest to a more favourable account), I'm not sure whether I'm going to send off the transfer forms now! How would that work then if you decided to put all your ISAs into a fixed rate elsewhere, and then at a later date had a few pounds left in the Halifax account from the 0.20% bonus interest (ie, you can't usually add to fixed rate accounts, so would be left with the few pounds in the Halifax - not sure if I've explained myself very well).

rb10

10_66 wrote: »

I have to say, having read the complications on this thread about when the bonus will get paid (ie, if you have to leave a £1 in the account to qualify for the bonus if you want to transfer the rest to a more favourable account), I'm not sure whether I'm going to send off the transfer forms now! How would that work then if you decided to put all your ISAs into a fixed rate elsewhere, and then at a later date had a few pounds left in the Halifax account from the 0.20% bonus interest (ie, you can't usually add to fixed rate accounts, so would be left with the few pounds in the Halifax - not sure if I've explained myself very well).

If you have transferred the rest of the money into a fixed account that does not allow deposits, you just wait until you have other ISA money that you want to transfer (either from subsequent years' allowances, or when the fixed rates mature), and do this transfer (of £1+bonus interest) at the same time.

There is no problem with having two ISA accounts running concurrently.

10_66

rb10 wrote: »

If you have transferred the rest of the money into a fixed account that does not allow deposits, you just wait until you have other ISA money that you want to transfer (either from subsequent years' allowances, or when the fixed rates mature), and do this transfer (of £1+bonus interest) at the same time....

Yeah, but if you want to transfer two previous years' ISAs into one fixed rate, you can't usually do so. Many fixed rate ISAs will only allow one transfer into it.

Nikel

Really? I didnt realise that. When I helped my mum open her Halifax Direct Reward ISA we transferred about 4 old ones from a couple of different banks.

10_66

Nikel wrote: »

Really? I didnt realise that. When I helped my mum open her Halifax Direct Reward ISA we transferred about 4 old ones from a couple of different banks.

The Direct Reward's not a fixed rate account. However, having said that, from memory, I think Halifax fixed rate ISAs are one of the few that, if you have more than one ISA being transferred into it, they'll "collect" them all into a variable rate ISA first, then transfer that into a fixed rate ISA.

glider3560

Is anyone still waiting for theirs to redesignate? I phoned on Monday but the account is still showing as a "ISA Direct Reward 3". They said on the phone that it should be done within a "few" days.

callode

Hi, I'm really quite confused about ISAs! Can anyone help? I want to transfer money from two previous ISAs into one with a higher rate before the new tax year starts, but the combined amount is more than than the yearly allowance, does this matter as some of it is from a previous tax year?

glider3560

callode wrote: »

Hi, I'm really quite confused about ISAs! Can anyone help? I want to transfer money from two previous ISAs into one with a higher rate before the new tax year starts, but the combined amount is more than than the yearly allowance, does this matter as some of it is from a previous tax year?

No, it doesn't matter. Just complete the transfer forms provided by your new ISA provider.