Santander 2 year Cash isa

LauraWxx

Hi All,

Just a quick question regarding Santanders 2 year cash isa of 3.3%.
Does anyone know how this works...would I put in my 1st years allowance in now (well once the account is open) and then put in the 2nd years allowance in April 2013?

Or can i put in 2 years allowance now and just not make any additional deposits until the end of the 2 years?

Jox

You can put this year's allowance in now and next year's allowance in next year.

gadgetmind

I suspect that you put in one year's allowance now and then that's it for two years. You'll then have to find something else to do with next year's allowance, which starts on April 6th.

kuepper

only 1 deposit allowed now thats it - and you need a £24 pa 123 current a/c or cc with them http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237908316644&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

LauraWxx

gadgetmind wrote: »

I suspect that you put in one year's allowance now and then that's it for two years. You'll then have to find something else to do with next year's allowance, which starts on April 6th.

As in I have to find another ISA next year and it just pays the rate for 2 years, or I cant put any money in next year but I also cant apply elsewhere next year??

LauraWxx

kuepper wrote: »

one at a time and its April 6th not 1st and you need a £24 pa 123 current a/c or cc with them

Yep I have the 123 current account.

When you say one at a time...do you mean the same as what JOX said?

Apologies re the date!

Jox

have you read here?

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1237908316644&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

LauraWxx

yes I have read that and all the pages pretty much up to point of application.
It is just the part regarding how / when i can pay in that I cant seem to see any info on...maybe I am missing something.

Don't overly trust the sandander customer services so didn't really want to ring them...like there rates and the accounts I have with them..just not very confident what the people tell me on the phone is correct.

LauraWxx

gave in and have rang them...not feeling very confident of there response as I am currently on hold because the banking consultant didn't know the answer...he has gone to find out!

Will update when they have told me in case anyone else may want to know.

Jox

Thanks. please do

LauraWxx

Just got off the phone... apparently you can only make cash deposits within the first 14 days of opening the account. (think this is the same for transfers of prev isa's)
This only classes as this years allowance so I am free to open another ISA next financial year.

So basically as I have the cash for the full allowance, If I open it now and fill it, It will earn 3.3% interest till Dec 2014. And I can do a new ISA next year.

Hopefully if anyone runs a search in the future for this it might be of interest.

Thanks for all your help.