Santander 2 year ISA

JonW4rd

Thanks - yes I've answered my own question really. I found the following on the HMRC website

"If you change your mind and cancel the ISA within the period set out by the ISA manager, the payment made will not count as a subscription into an ISA in that tax year and you will be free to put money into an alternative ISA in that tax year (with the same or different manager)."

Once again thanks for your help.

geckofabulous

innovate wrote: »

Hmh, must admit, I am not sure now - never came across a 'cooling off' period on an ISA before myself. But I think the Santander CS rep is correct - - if your ISA is declared null and void during the cooling off period, you should really be free to open another one for the same financial year.

You might want to confirm this with your local tax office.

When you are ready to have another go, check out what cash ISA might be best for you on Kazza's best cash ISA thread before you take another plunge

I'm pretty sure that all financial products governed by the fsa have to give a cooling off period, but then I could be wrong

[Deleted User]

I found this out with Santander and the Halifax fixed deals which unless you drill down the T&C's can be easily missed... so I chose the Lloyds 2 Year fix as it is a lower rate @ 3.7%, but allows for additional deposits so can be topped up next year.

shown73

Now I'm really confused. Went into Santander today, just to check one more time. OH opened a 2yr ISA just before the April deadline, and wanted to put more in now. According to this thread that is not possible, but the bloke in Santander said that was fine, up until the end of May, provided that we took a cheque into the branch and paid it in that way. Only by cheque in the branch though, although we operate the account online. So, someone is mistaken.

badger09

shown73 wrote: »

Now I'm really confused. Went into Santander today, just to check one more time. OH opened a 2yr ISA just before the April deadline, and wanted to put more in now. According to this thread that is not possible, but the bloke in Santander said that was fine, up until the end of May, provided that we took a cheque into the branch and paid it in that way. Only by cheque in the branch though, although we operate the account online. So, someone is mistaken.

Not sure what you're confused about but there's a thread on the ISAs and Tax Free Savings sub board and if you check the last post, which was mine on 15th, you'll see that Santander extended the deadline. If you opened this ISA in the tax year just ended (5th April), you originally had only between 6th & 14th April to pay in this tax year's allowance - now you've got until end of May :T

https://forums.moneysavingexpert.com/discussion/3830443

shown73

Didn't see that one, just going by what was said on this one. Handy to know, though, all the same.

badger09

shown73 wrote: »

Didn't see that one, just going by what was said on this one. Handy to know, though, all the same.

Yes indeed.

Also just reread your post above. I suggest your OH checks their online banking at Santander. When I checked mine a couple of days ago I could have paid this year's ISA allowance into my 2 Year Fixed Rate ISA by transfer from my current account .

I'm not going to as I've opened the Nationwide Flexclusive.