skipton building society isa

saber1

Does anyone know whether skipton building society has changed their paperwork within the last 2 years. I ask this as I am experiencing post going astray and I suspect some of my post has been tampered with! Also receiving silent phone calls. Previously when investing by post in fixed rate isas with Skipton they sent out letters confirming investment. This time I received a 'certificate of investment' showing a purple logo on righthandside, inside quoting 'fixed rate bond'. Previously the fixed rate isa had never been referred to as a 'bond'. Also the rather general accompanying letter refers to a 'bond'. None of the initial literature referred to a 'bond'. On the certificate it did name the investment which was correct and the amount. Am I worrying unnecessarily?

bigfreddiel

yes you are!

saber1

Concerned as paperwork is conflicting. Bonds and isas are two different things. Letter shows bond and certificate shows bond in logo but is itemised as an isa. Skipton have always been efficient in the past and wonder if anyone else is receiving conflicting paperwork?

Gromitt

What did you apply for? An instant access ISA or a ISA Bond? The later is typically better interest but you can't touch the cash for the duration.

Mikeyorks

saber1 wrote: »

Bonds and isas are two different things.

Indeed they are. But, unfortunately, Banks etc have a tendency to call fixed terms savings accounts or fixed term ISAs .... 'Bonds' or 'Fixed Term Bonds'.

For example ...... see the weblink in this recent post for Yorkshire Bank 2 year fixed rate ISA ..... where it's clearly called a Bond. (Product withdrawn now - so don't click the YB link)

http://forums.moneysavingexpert.com/showpost.php?p=48410481&postcount=1

If the Certificate of Investment from Skipton is for the right value / account number ....... I wouldn't fret about it.

saber1

Yes is for correct value and account number. I understand your point re yorkshire Bank but in the initial literature originally sent from Skipton it was referred to as a fixed rate isa and no mention of 'bond'. May be the same certificates are issued for both Bonds and Isas. Thanks.

thenudeone

saber1 wrote: »

Concerned as paperwork is conflicting. Bonds and isas are two different things.

Not really, as far as banks marketing is concerned.

An ISA is just a tax wrapper on a type of savings account or investment.

Banks typically use "bond" to mean a fixed period savings account with no (or very limited) access, some of which are available in an ISA wrapper.

eg: http://www.marketoracle.co.uk/Article1214.html