NS&I - Application Rejection?

Bobolink

If an application to NS&I is rejected, does this mean that the £3000 allowance (I want to put £3000 in) for 2006/7 is lost?

I've got to sign the form and return but as I've heard of Martin's new 6.5% ISA it may be worth not signing the form to get the application rejected. But I want to make sure that I've not used my allowance by applying to put £3000 in an account.

Can someone help confirm this?

Crabman

If they reject your application then by definition an account has not been opened.

It will not affect your allowance :T so use it soon before 5th April.

masonic

Have you sent them your opening contribution? Is there a cooling off period?

Crabman

If the application is rejected they'll have to refund whatever amount you paid them...

ManAtHome

Why has it been rejected - is it just that the electronic validation has failed so they're asking you for proof of identity, or do they think you already have an ISA for this tax year?

Can't think of any reason why they'd want you to return a form simply agreeing to a rejection.

masonic

What makes you two think the application has been rejected?

It seems to me the OP is looking for a way out. Causing the application to be rejected by refusing to sign the forms is one option, possibly... However, depending on circumstances, there might be a better way to go about cancelling the application.

Bobolink

It's ok, I've made my calculations, and even if this 6.5% deal from Martin works out, it's not going to be a massive amount I miss out on. Today I signed and returned the form which authorirsess the opening of an ISA account. The thing is if the form isn't signed and returned in 14 days, they return the money and don't bother opening the account.

Hope I didn't cause confusion there, thanks for the replies!!