Barclays ISA - opened one today

Pinklepurr

My DH has been into Barclays today to open their new ISA. So far, we've written a cheque for £10, but we are coming into some money at the weekend and we want to pay in the remaining £2990 before 5 Apr.

Has anyone openend this new ISA yet and if so, how long has it taken to get up and running? They know we want one for this tax year rather than next so hopefully will get a move on with it.

Thanks

PP

sweetmoneysaver

Sent off the application yesterday! Maybe in branch will be quicker than post?

nrishiraj

I'm thinking of opening up one too.

At the moment I've got an ISA with halifax.

Shall I cancel the halifax isa before april the 5th and the open an isa account with barclays? or do I open the barclays isa account after april the 5th?

Sorry, I'm a bit confused with the tax dates.

thumshie

Branch post them off to HQ anyway.

I was told it *should* be 'this time next week' when i hear back, hopefully with the sortcode acc. #.

nrishiraj - Theres no need to cancel your halifax isa. If you've paid into the halifax one since april 6th 2006 you can't open the barclays till april 6th 2007(Technically you can fill the form out as there is a tick box to say 'for 2007/2008 year') otherwise you can open barclays for this year and pay as much in before april 6th.

nrishiraj

thumshie wrote: »

Branch post them off to HQ anyway.

I was told it *should* be 'this time next week' when i hear back, hopefully with the sortcode acc. #.

nrishiraj - Theres no need to cancel your halifax isa. If you've paid into the halifax one since april 6th 2006 you can't open the barclays till april 6th 2007(Technically you can fill the form out as there is a tick box to say 'for 2007/2008 year') otherwise you can open barclays for this year and pay as much in before april 6th.

I'm aware that I can't have 2 ISA accounts at the same time, so will I need to cancel my halifax ISA after april 6th and then open barclays isa? or will my halifax isa automatically close after april the 6th?

exel1966

nrishiraj wrote: »

I'm aware that I can't have 2 ISA accounts at the same time, so will I need to cancel my halifax ISA after april 6th and then open barclays isa? or will my halifax isa automatically close after april the 6th?

You can have as many ISA's as you wish, but you can only open and pay into one each financial year.
The question is, when did you open the Halifax one ? If it was during this financial year (APR06 - APR07), then you can't open another til after 5th April.
If it was prior to this financial year, then you can open one immediately and another after 5th April.

nrishiraj

I currently don't have the 3k to deposit when I open the ISA account for barclays. My sister is going to lend me the money [not lend, but use my a/c with her money and I keep the interest], can she does this? Can she give me it in a form of a cheque? She is currently has a few accounts i.e. savings, current with Abbey, is there a limit she can withdraw cash out of 3k?

missile

nrishiraj wrote: »

I currently don't have the 3k to deposit when I open the ISA account for barclays. My sister is going to lend me the money [not lend, but use my a/c with her money and I keep the interest], can she does this? Can she give me it in a form of a cheque? She is currently has a few accounts i.e. savings, current with Abbey, is there a limit she can withdraw cash out of 3k?

I am not sure that is legal? and if Barclays find out they may regard it as money laundering.

Paul1_2

missile wrote: »

I am not sure that is legal? and if Barclays find out they may regard it as money laundering.

God I'm a money launderer lol. Haven't we all being doing this for years with cash stoozed from credit card companies (their money, but my interest)?

Paul1

coolio_2

Quick question, can you access this account online?

vandanfc

nrishiraj wrote: »

I currently don't have the 3k to deposit when I open the ISA account for barclays. My sister is going to lend me the money [not lend, but use my a/c with her money and I keep the interest], can she does this? Can she give me it in a form of a cheque? She is currently has a few accounts i.e. savings, current with Abbey, is there a limit she can withdraw cash out of 3k?

T & c's say "funds must be from a personal account in your name." So you would need to have cash, most banks just ask for 24 hours notice if taking out fairly large sums.