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Closing Isa Direct Reward
shiarf99
Posts: 3 Newbie
I have a quick query re my Halifax Isa Direct Reward account, which is approaching the end of its 12-month reward period.
I get the basic 3% (ie not the extra 0.2% that Halifax current account holders can get).
What I'm a bit confused about is whether or not I need to wait until my 12 months is over to to do an ISA funds transfer elsewhere (thus closing it).
If I do it beforehand, will that mean I don't get the full 3% rate for the period it was open?
I've been told conflicting things by Halifax call centre staff (surprise, surprise). One person told me I needed to keep at least £1 in the account until the 12 months was over; the other said that wasn't the case.
From reading other threads on here, I suspect the £1 thing only applies to getting the extra 0.2%, which doesn't apply in my case anyway.
Does anyone know for sure?
I get the basic 3% (ie not the extra 0.2% that Halifax current account holders can get).
What I'm a bit confused about is whether or not I need to wait until my 12 months is over to to do an ISA funds transfer elsewhere (thus closing it).
If I do it beforehand, will that mean I don't get the full 3% rate for the period it was open?
I've been told conflicting things by Halifax call centre staff (surprise, surprise). One person told me I needed to keep at least £1 in the account until the 12 months was over; the other said that wasn't the case.
From reading other threads on here, I suspect the £1 thing only applies to getting the extra 0.2%, which doesn't apply in my case anyway.
Does anyone know for sure?
0
Comments
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It's variable rate - so you can move it whenever you wish. But would sensibly do so fairly close to the 12 month period unless you can get more than 3% now with your new provider.
The £1 purely relates to the additional 0.2%. And is getting to 'urban myth' status ...... as you can't do that, prior 6th April, if the money in the ISA is all current year subscription.If you want to test the depth of the water .........don't use both feet !0
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