Sneaky banks

andferdav

Looking for a fixed term ISA I find that quite a few banks say 2 or 3 year terms, but when I looked closely they mature in May of 2014 or 2015. I think this means that when they do mature, the better rate ISAs which are always available around the end of the tax year, probably will not be around to transfer into.
:(

Moist_von_Lipwig

The M&S Fixed Term ISA matures on the anniversary date of the deposit if you looking for that kind of account. It pays 3.25%.

opinions4u

Banks and building societies are snowed under with ISA related administation in March and April. 80% of account opening happen within these months and as such a similar share of ISA transfers also take place at the same time.

Shifting maturity dates or having a bonus that runs for a term different to the typical 12 months will help to shift a chunk of the work to a point in time where it is easier to manage.

I don't think it's a sneaky trick. Many of the better ISA offers have continued in to May in the last couple of years anyway. Indeed, if I recall correctly the best buy Halifax offer from last tax year end was eventually pulled in September.

MoneySaverLog

I moved my ISA when I did so it would all coincide around the end of the tax year to further add to the burden I'm afraid.

It's also a easy date to remember, get a new ISA allowance and do the shift around that time :-)