Santander 2year fixed isa @ 4%

badger09

benwatts wrote: »

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?

I don't think they've changed the 14 day condition. BUT, have you done anything at all with this ISA yet? If not, can you simply ignore it, open another and start from scratch. Or, I can't see anything to say you can't have more than 1 of these, so you could transfer your old Santander ISA into this one and open another to transfer in your First Direct ISA?

When I applied by phone, my old Santander ISA was transferred immediately by Santander. Did they not do this for you?

Obviously, you could just open one with a different provider

homerhotspur

I can see that I can open the ISA online and send them the transfer forms for my Halifax accounts within 14 days, but can't see how I can (1) - transfer my 2011/12 existing Santander ISA and (2) pay in the 2012/13 ISA subscription( is there a time limit as I saw something about 14 April?)

thank you

innovate

For Santander to Santander transfer, you need to call them on 0845 600 0181, or pop into a Branch.

Don't think April 14 was a deadline - - it's 14 days from opening.

badger09

homerhotspur wrote: »

I can see that I can open the ISA online and send them the transfer forms for my Halifax accounts within 14 days, but can't see how I can (1) - transfer my 2011/12 existing Santander ISA and (2) pay in the 2012/13 ISA subscription( is there a time limit as I saw something about 14 April?)

thank you

If you want to transfer your existing Santander ISA, the quickest way is to phone 0845 600 0181 and they do it almost instantaneously. It keeps the same account number but you get a bit more interest credited on the closed ISA.

You then have 14 days in which to pay in your 2012/13 subscription, and to get the transfer application form re your Halifax ISA back to Santander.

14 April was the deadline to pay in 2012/13 subscription if you opened this account in 2011/12.

carriej_2

Hi I have an ISA with Santander from 2011/12 and have just opened a new 12/13 ISA. I just wondered though how many of you realize that interest with Santander is paid in March and you only get the rest of the tax year interest (ie March/April) when you close or the account or you have to wait until next March! So Santander is holding onto a lot of peoples interest. Of course it is in their small print, but as the tax year is April to April I don't understand how they can get way with it!

mbailey

carriej wrote: »

Hi I have an ISA with Santander from 2011/12 and have just opened a new 12/13 ISA. I just wondered though how many of you realize that interest with Santander is paid in March and you only get the rest of the tax year interest (ie March/April) when you close or the account or you have to wait until next March! So Santander is holding onto a lot of peoples interest. Of course it is in their small print, but as the tax year is April to April I don't understand how they can get way with it!

Interest is calculated daily and paid annually. The interest rate is calculated based on this.

This is completely normal and how all banks work.

For example if you look at other accounts which pay monthly the interest rate is lower which take into the account that you are paid more often and the bank doesn't have the money.

Looter

This sounds like a daft question but here goes:

I opened the 2yr fixed rate Santander ISA last month, and in the T&C's it says interest is paid annually on 1 July, so does that mean I will receive a little interest on 1 July 2012 or does it just mean 1 July 2013 & 14?

tell_it_how_it_is

Looter wrote: »

This sounds like a daft question but here goes:

I opened the 2yr fixed rate Santander ISA last month, and in the T&C's it says interest is paid annually on 1 July, so does that mean I will receive a little interest on 1 July 2012 or does it just mean 1 July 2013 & 14?

It does what it says on the tin, so two months worth of interest will be paid on 1st July 2012, then a full year's worth on 1st July 2013. When you 'see' the interest for the final 10 months to May 2014 depends on what you, or Santander, do with the account upon maturity.

innovate

tell_it_how_it_is wrote: »

It does what it says on the tin, so two months worth of interest will be paid on 1st July 2012, then a full year's worth on 1st July 2013. When you 'see' the interest for the final 10 months to May 2014 depends on what you, or Santander, do with the account upon maturity.

I never got any interest in July 2012 (ISA started in April 2012, by transferring previous years' ISA). Wonder whether anyone else did?

KTF

Online banking says I opened mine on 04/06/11 (strange)

Interest credited on 02/03/12, 06/03/12 and 02/05/12 so far.

Something isn't right from the dates?