BM Savings - 2 year Fixed Rate ISA - 4.05% AER

Frank121

Hi Claire,

I didn't spot that option about "from existing ISA" even though I looked for it. I put down from savings/salary instead but nevertheless we got the same email so it's probally ok.

The transfer form is hidden in the FAQ's about ISA transfers, I can't post the link as I'm a new user but hopefully you will find it.

Hope we both get good news when we speak to them tomorrow and no funding is needed for 2011/2012

Cheers.
Frank

claire07 wrote: »

Frank 121 I'm in the same boat with transferring in. I've opened online today and intend to transfer in my 2011/12 Barclays Golden Isa.

When it asked where the funds came from I put "from existing ISA" but my email confirmation also mentioned sending a cheque so I will ring them tomorrow.

I presume they will send a transfer document to send in for people transferring existing ISAs but I was surprised there wasn't one available on the website that I could find.

goRt

Frank121 wrote: »

...- I went for the monthly interest option purely because I like to see the interest accumlating Is there any benefit in monthly or yearly interest? I couldn't see one as the interest is compunded making the AER the same.

Reading the website then one is 3p / thousand better off taking the monthly option due to rounding - I pointed this out on the phone call to ensure I don't lose my 3p * 17 * 2!

10_66 wrote: »

Are you sure that you've only got 14 days in which to return the forms? The AA use BM to administer their accounts, and I was told when I "applied online" for the AA 3.50% variable (just in case I wanted the option for next financial year) that there wasn't a time limit in which to return the forms (I don't want it for this financial year, but applied early so I'd have the forms if I wanted to return and subscribe to it after 6 April).

Having seen this product I was going to do the same (apply so I'd have the forms ready) and when I rang yesterday to ask if I could that, they said no problem as long as the account was still available when I sent the forms back).

I stand by the whole post you quoted - 14 days from date of offer withdrawal

codetown

Frank121 wrote: »

The transfer form is hidden in the FAQ's about ISA transfers, I can't post the link as I'm a new user but hopefully you will find it.

Here it is the FAQ:
http://www.bmsavings.co.uk/existing-savers/managing-your-account/managing-your-isa/#transfer

and here is the transfer form:
http://www.bmsavings.co.uk/documents/public/bm-isa-portability-form.pdf?WT.ac=BMESMYAMYIPDFBMISAPORTFORM1

Frank121

I called them this morning and they confirmed:

1) A Cheque is only needed for new funds but is optional not mandatory. You can use the ISA transfer form to transfer the funds across from other ISA providers.

2) The term starts from when the funds are deposited, however she said they would backdate the start date to the date of the cheque rather than the date that the cheque actually clears.

Hope this helps.


Frank

kevin52

Birmingham Midshires is NOT a building society. It is part of Bank of Scotland which includes Halifax and Lloyds Bank, so you will need to ensure that you do not exceed the compensation limits for the group as a whole.

LilithsBrother

I called them this morning as well and asked if i could transfer in next Monday as my Halifax ISA finishes on that date and i was told that would be fine...i also asked if i could pay in for 2012-2013 and was told that i could....i also printed the transfer form from the link provided in this thread but it does not mention which ISA i am applying for....is this the only ISA BM currently offer?.

hamski

My plan is to transfer my existing isa from halifax and northern rock now, anyone know which is the fastest way ring them up or download tranfer form and send, also i am planning on opening an online savings account and funding it with next years allowance so i can tranfser as soon as the new tax year begins , good idea or what.

xylophone

LilithsBrother wrote: »

I called them this morning as well and asked if i could transfer in next Monday as my Halifax ISA finishes on that date and i was told that would be fine...i also asked if i could pay in for 2012-2013 and was told that i could....i also printed the transfer form from the link provided in this thread but it does not mention which ISA i am applying for....is this the only ISA BM currently offer?.

Interesting - I phoned on Saturday and was told that this was not yet decided....

jennifernil

kevin52 wrote: »

Birmingham Midshires is NOT a building society. It is part of Bank of Scotland which includes Halifax and Lloyds Bank, so you will need to ensure that you do not exceed the compensation limits for the group as a whole.

Only partly correct, Lloyds is still separate as far as the compensation limits are concerned.

And it is Lloyds Banking Group that now owns BOS, Halifax etc.

Ifts

xylophone wrote: »

Interesting - I phoned on Saturday and was told that this was not yet decided....

Just got off the phone from BM, the lady I spoke to said she was unable to say if this ISA would still be available for 2012/13 allowance.

Hopefully it will (or a better rate!) as I need somewhere to put my 2012/13 Isa allowance.