End of 06/07 Financial Year Mini Cash ISA Discussion Area

lynn2

Awwww, me too Bobolink. I have just opened NS&I and was gutted when I read about the new account @ 6.5%
Can I still open the new account when we find out what it is?
Can I keep £3000 this tax year in NS&I then put another £3000 in to the new account on 6th April?

masonic

lynn2 wrote: »

Can I still open the new account when we find out what it is?
Can I keep £3000 this tax year in NS&I then put another £3000 in to the new account on 6th April?

Yes. ______________

Compound_2

lynn2 wrote: »

I have just opened NS&I and was gutted when I read about the new account @ 6.5%
Can I still open the new account when we find out what it is?

I believe with NS&I you have to sign a form they send you in the post. It might be possible to open the Barclays account if you don't sign the NS&I forms.

lynn2

Thanks Masonic

I can't remember if I signed something to the effect of not opening a new account

masonic

lynn2 wrote: »

I can't remember if I signed something to the effect of not opening a new account

It was probably just a statement of the ISA rules, whereby you can only hold one account for new funds per tax year.

catriona79

Hi
I was wondering if anybody knows the answer to a question that's been bothering me for a while.
I want to open the new Barclays ISA and put some money in there
but as it does not allow any transfers in, and I have an A&L ISA from 2 years ago, into which I havent paid since over a year, I was wondering if at the same time I can switch that to another provider?
Technically I would still not pay more that the maximum 3 grand into a ne account, and would only shift the cash from previous financial years to a new bank/building society.
Is that possible at all?

Many thanks

ManAtHome

Catriona, you can transfer ISAs at any anytime (obviously to one that allows transfers in). The £3k is the max you can pay in any tax year, transfers don't count towards this.

dbhavnani99

hi Everyone

Like Hundreds of others on this forum, this monday I opened a NS&I ISA and now find Barclays is offering 6.5%.

Two questions:

1.Could any member confirm whether it is legal to 'apply'(technically my NS&I ISA is still not open as I still havn't returned their letter with my signature on it so I am saying apply and not saying open) for two ISA accounts in the same year? The saving grace for me is I still havn't sent the signed letter back to NS&I after opening the NS&I ISA on internet so can I still apply to Barclays ISA?

2. My 2nd query is slightly more tricky, the day I applied for NS&I on internet, NS&I had withdrawn 3000 from my bank current account(you to give them your debit card details while applying and NS&I immediately withdraw money from your bank account). So if I now ask NS&I for a refund, will they give me a refund fast(last date for this year being 5th April 2007) as I only had 3000 in my bank so can't apply to Barclays until NS&I give me a refund.

MillzE

Yet another question! (I suspect a very easy one)

I am looking to start an ISA for the first time, the barclays sounds the best at the moment so:

Since I have not used my 3k allowance this tax year, would I be able to start it now, then add another 3k into the account after 6th april?

Being a newbie to ISAs I'm not sure if this is possible and whether it is actually the right thing to do?? (ie. would I be getting 6.5% on 6k?)

Thanks in advance!

Matt

masonic

dbhavnani99 wrote: »

1.Could any member confirm whether it is legal to 'apply'(technically my NS&I ISA is still not open as I still havn't returned their letter with my signature on it so I am saying apply and not saying open) for two ISA accounts in the same year? The saving grace for me is I still havn't sent the signed letter back to NS&I after opening the NS&I ISA on internet so can I still apply to Barclays ISA?

There may be a cooling off period, which would allow you to get out of the account right away. By refusing to sign the paperwork, you are likely going to be waiting weeks for them to cancel your application (assuming that is what they will do). If you wait for them, you are going to miss the boat. Personally, I would phone them, say you have changed your mind about the account and ask them if it is too late to cancel.

2. My 2nd query is slightly more tricky, the day I applied for NS&I on internet, NS&I had withdrawn 3000 from my bank current account(you to give them your debit card details while applying and NS&I immediately withdraw money from your bank account). So if I now ask NS&I for a refund, will they give me a refund fast(last date for this year being 5th April 2007) as I only had 3000 in my bank so can't apply to Barclays until NS&I give me a refund.

If they've withdrawn the money from your debit card and agree to cancel your application, the refund should only take a couple of days. However, you need to make sure they cancel your application and don't just close your account (which would mean you lost your 2006/7 allowance).