Sanatander 3.3% Easy Access ISA coming Monday

badger09

marc.safc wrote: »

not really sure what you can and cant do with ISA's

currently have a Santander ISA from this year. i gather the interest rate will plummet if i leave the money there beyond the next tax year. do i have to transfer to a new provider altogether or can i transfer the money from my current Santander ISA into the new rate Santander ISA then top up with next years allowance?

Yes you can.
I xferred my Santander Flexible ISA (this year's contribution) into their 2 Year (+ a bit) Fixed Rate 4% ISA yesterday by phone. It was changed & shown online immediately & earns 4% straight away :T Interest was added today I will now xfer previous year's contributions from another provider, and on 6th April (or at latest by 14th) will probably pay in next year's allowance - depending on what other offers emerge before then.

The same rules apply to their other current offerings - 1 year Fixed Rate 3.5%, and instant access Direct ISA 3.3%, which is unusual.

The phone call was tedious and obviously read from a script, but free and I had nothing better to do :rotfl: There was an attempt to sell me a 'pre-approved' credit card and 'upgraded' current account at the end, which I politely declined , but all in all, 20 minutes well spent

Eponym

Can you do a partial transfer into the 3.3% ISA?

I have just redesignated my Halifax ISA into the 3% online rate but I'm unwilling to transfer the whole lot away from Halifax due to the prize draw. Could I leave £5000 in my Halifax and transfer the rest to Santander?

Do I need to leave a whole year's subscription in Halifax or can I just leave the £5000?

Alias_Omega

Me..Me..Me..!

We plan to go with this, 3.3% with Instant Access is pretty good. On one ISA alone, the rate is over £10 per month more than our current provider.

badger09

Eponym wrote: »

Can you do a partial transfer into the 3.3% ISA?

I have just redesignated my Halifax ISA into the 3% online rate but I'm unwilling to transfer the whole lot away from Halifax due to the prize draw. Could I leave £5000 in my Halifax and transfer the rest to Santander?

Do I need to leave a whole year's subscription in Halifax or can I just leave the £5000?

You can do a partial transfer of 'old' ISA contributions, but any current year contributions i.e since 6th April 2011 have to be transferred in their entirety.

chaotic_j

innovate wrote: »

You can only put new money into one cash ISA, and into one S&S ISA, each tax year.

You could open a Santander ISA (or other ISA which allows transfers in) and transfer your Halifax ISA into it, but you must not pay any more money into this year's Santander ISA then.

So if you want to top up this year's allowance, pay it into your Halifax ISA, before you ask Santander to transfer your Halifax ISA.

AFAIK, there is no minimum 'wait' period before you can request a transfer - - so wait until the money has cleared in Halifax, then open your Santander ISA and request a transfer. But check your Halifax ISA T&Cs to make sure this works.

Thank you for your most helpful post.

The Santander website mentions that the account is not available to apply for online until Monday, does this mean that I can go into branch this weekend to open one?

Oh I see someone mentioned about the telephone too.. that could be a better option for me.. thanks.

bluu2k

Hi all,

Is it possible to open two ISA a/cs with Santander, one 2 year-fixed rate major ISA (4%), and one Direct ISA (3.3%)?

I have Loyalty ISA with them already and want to redesignate this into a 2 year-fixed rate major ISA, and want to transfer my ISA funds from another bank to Santander's variable 3.3% (Direct ISA).

I did raise similar question with Natwest last month and their answer was NO, I could hold only one ISA a/c with NW.

(Funds for both fixed term and flexi ones are from previous years' allowance, not from this year's, if this might be an issue).

Anyone could shed the lights for me please?

Many thanks

xylophone

http://www.santander.co.uk/csgs/Satellite?canal=CABBEYCOM&cid=1195845566878&cidAgrup=845616358929450&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateY2&posSel=1

10_66

bluu2k wrote: »

...Is it possible to open two ISA a/cs with Santander, one 2 year-fixed rate major ISA (4%), and one Direct ISA (3.3%)?

I have Loyalty ISA with them already and want to redesignate this into a 2 year-fixed rate major ISA, and want to transfer my ISA funds from another bank to Santander's variable 3.3% (Direct ISA).

I did raise similar question with Natwest last month and their answer was NO, I could hold only one ISA a/c with NW.

(Funds for both fixed term and flexi ones are from previous years' allowance, not from this year's, if this might be an issue)...

There's no legal reason why you can't do this, but it'll depend on Santander's own terms and conditions. I'd say it's really unusual for a provider to only let you hold one ISA with them if it's previous years' funds. Maybe, when you asked Natwest last month, they thought you were asking about this year's subscription?

chaotic_j

Hey,

Opened one of these over the telephone last night, freephone call found the number on saynoto0870.

The bloke I spoke to was from USA, very helpful and polite a really positive experience. I said I only wished they were this helpful in my local Santander branch where I have found them to be incompetent!

Took about 25 minutes due to having to listen to various recorded messages etc for legal reasons but much better for me than having to go in the aforementioned incompetent local branch.

Got the account number straight away and have filled out and posted off my transfer form.

The only thing I forgot to ask was where they pay the interest on maturity, I assume it is back into the ISA?

Thanks in advance.

adindas

If you already have £30,000+ accumulated from previous year subscription then NatWest e-ISA pays 3.5%. it is also flexible so you could withdraw it any time without loosing the interest/

Here is the link
http://www.natwest.com/personal/savings/g2/isas/e-isa.ashx