Monmouthshire B Socy

psychic_teabag

My point was just that if we could put money into an issue 2 instead, we'd get a longer bonus period. Unfortunately, it's not clear how issues 1 and 2 would interact since the limits apply to all flexible savers held.

Stompa

psychic_teabag wrote: »

My point was just that if we could put money into an issue 2 instead, we'd get a longer bonus period. Unfortunately, it's not clear how issues 1 and 2 would interact since the limits apply to all flexible savers held.

Got it, I was being dim!

Gromitt

Wouldnt it be best to:

Put 11K into your Issue 1
Put 1K into a Issue 2

Both on the 1st April.

However, it seems a lot of work for a bit of extra interest (considering the application forms are manually processed and posted to you for your signature and opening balance), and in 9 months time a new 4% account may open up anyway.

tillycat123

Stompa wrote: »

OK I'm confused now. For those of us who already have £12k in an issue 1 account, we can still simply add a further £12k to that account on or after April 1 can't we?

Has it been decided if better to add a further £12k to issue one or close issue one and fund issue 2?

Thanks

oldfella

issue 1 is better choice for a lump sum of 12K

issue 2 is limited to 1K per month

psychic_teabag

You definitely don't want to close issue 1. Even if you add no more money to it, you have £12k earning 4% for another 9 months.

The question was whether to add £12k to issue 1 acct, or open an additional issue 2 account and spread the new money across the two. I think the latter is probably not worth the bother. You can get 3.2% elsewhere, so you're only looking at an extra 0.8% (before tax) on up to £3000 for up to 3 months.

castle96

Good old Monmouth !

MarkFromCornwall

Interest has been paid into linked account this afternoon.

Stompa

MarkFromMullion wrote: »

Interest has been paid into linked account this afternoon.

Or for those who opted to have it paid back into the same account, yesterday.

arsenalboy

I have 12k in issue 1.

I need to withdraw 3k in June but can then put 15k in July, making a net investment of 12k in the year and a balance of 24k.

Is that allowed, or will it be deemed I have exceeded the deposit limit of 12k by putting in 15k?