ISA Move to YBS from A&L

MiserlyMartin

Just a quick update about the closure of my A&L isa. It took about a week to shut they sent me confirmation of the transfer by letter. I transferred to abbey, and no interest was lost

masonic

MiserlyMartin wrote: »

I transferred to abbey, and no interest was lost

How do you know no interest was lost? Have they given you a receipt backdated to the closure date?

Anon

I tried applying for the YBS account earlier, but there doesn't seem to be an option not to open an account for 2007/8 (I just want to transfer in - have a new account with Egg). Abbey Direct seems to be the same - how do you just open an account for a transfer in please (from A&L)?

Many thanks

Anon

exel1966

MiserlyMartin wrote: »

Just a quick update about the closure of my A&L isa. It took about a week to shut they sent me confirmation of the transfer by letter. I transferred to abbey, and no interest was lost

A&L will have only paid interest to the account closure/transfer date (date cheque sent). There will inevitably be a 3-5 day wait for the cheque to arrive at YBS and be credited. You'll only know if you haven't lost interest by asking YBS on exactly what day they've started paying it from.

YorkshireBoy

Anon wrote: »

I tried applying for the YBS account earlier, but there doesn't seem to be an option not to open an account for 2007/8 (I just want to transfer in - have a new account with Egg). Abbey Direct seems to be the same - how do you just open an account for a transfer in please (from A&L)?

Can't vouch for Abbey, but YBS works as follows:

Apply online, print out the form, write "transfer in" across the top, and post it off. The form is pre-populated with your details. Make a note of the 10-digit YBS account number.

Ordinarily, you'd post a transfer in form with your signed application form. However, because A&L only allow transfers out by telephone request, just give YBS a week or so to get your account opened and ready to receive funds and then make the A&L phone call.

YorkshireBoy

exel1966 wrote: »

You'll only know if you haven't lost interest by asking YBS on exactly what day they've started paying it from.

You'll see the date of deposit in your online secure area. YBS also send you a receipt for the transfer showing the date credited (for interest earning purposes).