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

Sudders

So which pays the higher interest, monthly or yearly, website looks confusing to me as suggests monthly pays more interest when normally its the other way round.

I would be looking at opening this account but not adding any funds just transferring funds from a previous ISA, is this possible?

brewerdave

Sudders wrote: »

So which pays the higher interest, monthly or yearly, website looks confusing to me as suggests monthly pays more interest when normally its the other way round.

I would be looking at opening this account but not adding any funds just transferring funds from a previous ISA, is this possible?

Thats what I'm doing - a straight transfer of the AA Internet ISA from this year because the bonus ends early May, but no extra cash. Gone for yearly interest option.

Loco

I`ve just applied for one of these....hopefully I will get the form and cheque sent away before it closes.

I do have 1 question though......I will also been sending off the ISA transfer forms from my current provider too on the same day as my cheque.

I realise the BM 2 year offer will close on the 29th...and obviously by the time I send off my transfer forms it will be after the 29th....is that an issue? Will i still be able to transfer my old ISA after this offer has been withdrawn? I assume my new ISA transfer wont be transferred in until well into April now completely since it usually takes an age.

Bit confused to say the least sorry.

hermante

Can someone tell me if they send out FREEPOST envelopes? This only earns £6 more over 2 years than the Santander offering (assuming the golf bloke loses), so it might not be worth it to pay for stamps and travel to a post box every time I need to contact them when I can use Santander online.

Also do they do electoral roll checks online?

Sudders wrote: »

So which pays the higher interest, monthly or yearly, website looks confusing to me as suggests monthly pays more interest when normally its the other way round.

I would be looking at opening this account but not adding any funds just transferring funds from a previous ISA, is this possible?

Monthly and yearly are exactly the same, it just depends if you want to see your balance increasing throughout the year or going up in one go. Although since it's postal you won't see your balance increasing unless they send monthly statements.

goRt

hermante wrote: »

Monthly and yearly are exactly the same, it just depends if you want to see your balance increasing throughout the year or going up in one go. Although since it's postal you won't see your balance increasing unless they send monthly statements.

Check the BM calculations - clearly show you are 3p / £1,000 / year better off with monthly interest due to rounding!

brewerdave

hermante wrote: »

Can someone tell me if they send out FREEPOST envelopes? This only earns £6 more over 2 years than the Santander offering (assuming the golf bloke loses), so it might not be worth it to pay for stamps and travel to a post box every time I need to contact them when I can use Santander online.

Also do they do electoral roll checks online?

Yes, they sent out prepaid 2nd envelopes - and as far as I know, they do carry out online checks.My wife and I have several accounts with them and we haven't been asked for any identification documents ever.:)

Loco

bit confused about a question on the transfer form....

2. Have you subscribed to a Cash ISA in the current tax year?

Yes / No

I will be paying in the full 5,340 plus transfer my current ISA.....so for Q2 on the transfer form mean i tick "yes"or "no"?

(Because I am paying in my 5,340 at the same time as my transfer (does that count as "subscribed" already?)

10_66

Loco wrote: »

bit confused about a question on the transfer form....

2. Have you subscribed to a Cash ISA in the current tax year?

Yes / No

I will be paying in the full 5,340 plus transfer my current ISA.....so for Q2 on the transfer form mean i tick "yes"or "no"?

(Because I am paying in my 5,340 at the same time as my transfer (does that count as "subscribed" already?)

If your £5340 is for this current tax year (2011/2012), and if you haven't already subscribed to any cash ISA this year then you will say No to the question (I'm assuming you do mean this financial year because of the amount to which you refer).

If the ISA you're transferring in is from this financial year (2011/2012), then you'd answer Yes to the question.

hermante

It says you can apply for 2012/2013 from today, but the online application declaration still says 2011/2012.

10_66

hermante wrote: »

It says you can apply for 2012/2013 from today, but the online application declaration still says 2011/2012.

I applied for this last Saturday (ready for sending off next weekend). The date shown on the "confirmation slip" is 2011/2012, but when I rang today to ask if I needed to re-apply, I was told that I could amend the 2011/2012 to 2012/2013 and send it back with a covering letter, also writing on the back of the cheque that it's for tax year 2012/2013 and all should be ok. Fingers crossed!