Santander 2year fixed isa @ 4%

evenasus

DavidAC wrote: »

How long does it typically take between the old ISA account being closed and funds being credited to the Santander account? Does Santander pay interest from old account closure or from when the funds are credited?

Sorry, forgot to say...

The funds appeared in my Santander account the day after they left my Barclays account.

RobStaffs

My previous ISA provider have now confirmed that they transferred funds on the 12th April.They said it should take 5 working days for Santander to deposit into my account.So I will check on line today or tomorrow.

Thanks for the comments.

RobStaffs

Called again today.After a scare when the Santander helpdesk stated "we dont have your funds" I asked them to check again.They put me to their ISA support team who stated the funds where "in the system" and that the deadline they have to complete is 26th April.Thus despite my transfer request being process and account opened in Mid March I am now at the situation where my ISA( quite a significant one) has been earning a reduced rate from 6th to 12th April .Santander have stated they will pay interest from the 12th at 4%.So I have missed out on about 6 days.Probably an over reaction on my behalf but still annoying.

innovate

Fletchy wrote: »

I guess I have now lost the possibility of using my 11/12 ISA allowance.

Afraid so, you can't pay into 11/12 ISAs any longer, and you probably won't get much sympathy from Santander if you complain, but you could try. The very maximum you could perhaps expect is a year's worth of interest on £5,340 at the rate the ISA would have paid, but even that is questionable, and you definitely wouldn't get the ISA wrapper for the £5,340. You need to be sure exactly when you emailed them, too - - was it "around" or "on" March 21?

Got to ask: why didn't you just phone them sometime in March on the freephone number on their savings page, especially since you knew about the April 5 deadline? Or pop into a Branch with your cheque?

Edit: you say "....opting to transfer my money by cheque....." - - - do you you actually mean transfer (from another ISA) or pay in new funds?

RobStaffs

ISA transfer now complete..One issue is the date stated in terms of payment into my Santander ISA is 20/4/12.Will they honour it from the 6th April or do I have to get them to change this?

harryljd

ses6jwg wrote: »

just a heads up that if you opened your ISA in the 11/12 tax year the deadline has been extended on the fixed rate ISAs to the 31st of May to pay your 12/13 cheque in.

Is this confirmed? Can't see the information on the Santander website anywhere...

badger09

harryljd wrote: »

Is this confirmed? Can't see the information on the Santander website anywhere...

I couldn't see it on website either, but as I said in post 341 - if you log into online banking, you get the opportunity to pay money into this ISA which I opened on 2 March

harryljd

badger09 wrote: »

I couldn't see it on website either, but as I said in post 341 - if you log into online banking, you get the opportunity to pay money into this ISA which I opened on 2 March

Great, I didn't have enough money during the initial deadline period...so this should mean I can top it up to the full 2012/13 limit before the end of next month.

badger09

harryljd wrote: »

Great, I didn't have enough money during the initial deadline period...so this should mean I can top it up to the full 2012/13 limit before the end of next month.

Same here, but decided to go with Nationwide Flexclusive instead

As its not on the website, I'd get your money in as soon as you can though, just in case they change their mind

benwatts

If it's been more than 14 days since opening an account, I take it I won't be able to transfer in old ISAs into it?
I have an old first direct and an old santander ISA that I want to transfer in but have stupidly taken too long since opening. Online it's letting me transfer the old santander into the new one, but not sure if that would cause me problems.

Should I just open a new ISA with another provider that does transfer ins?