Santander ISA's launch on 8th March

molerat

innovate wrote: »

That was my initial reaction, too. But then I heard their rationale, which is that they are protecting people from unwittingly withdrawing money from their ISAs, without realising that there is a finite amount they can deposit each year. Santander seem to be arguing that if they have a chance to explain the consequences to people at the time of withdrawal, it's overall better for people.

Now neither you nor I need this sort of handholding - a huge big warning on a withdrawal screen, that has to be actively acknowledged, would be more than enough for us. However, given the kind and number of questions I have seen here about cash ISAs over the last year, I have sympathy for the Santander nanny-approach.

You can withdraw online straight into a Santander account with no warnings or hoops to jump through. You cannot withdraw into an external account.

dutchism1958

flossie217 wrote: »

Thank you for the heads up on todays new ISA rates. I would have transferred existing ISA to 1.75% but this morning have got 2.5% instead.
For anyone calling Santander don't use the 0845 number. Here is a free phone call that I used this morning, it gets you through direct to an advisor. 0800 3899875. I found it on the No 0870 Numbers site.
I'm pleased that I used it as I was on the phone for 50 minutes sorting out transferring ISA and several old savings accounts. I even pulled the phone off the table at one point and they called me back immediately.
A thumbs up for Santander this morning from me, just hope it lasts.

Thanks Flossie-especially for the freephone number!!:)

ses6jwg

If you have a Santander fixed rate or fixed rate postal ISA, they can be upgraded up to 30 days prior to the maturity date.

The only disadvantage to this is that if you're current ISA is on a higher rate than the new range obviously you will lose out on a little bit of interest.

Just sayin'

innovate

ses6jwg wrote: »

If you have a Santander fixed rate or fixed rate postal ISA, they can be upgraded up to 30 days prior to the maturity date.

The only disadvantage to this is that if you're current ISA is on a higher rate than the new range obviously you will lose out on a little bit of interest.

Just sayin'

Surely you can ask Santander to only transfer on maturity?

innovate

molerat wrote: »

You can withdraw online straight into a Santander account with no warnings or hoops to jump through. You cannot withdraw into an external account.

I don't think I can withdraw (transfer) from my Major ISA. But tbh, I never tried, so you might be right. Not got my bank login detials with me atm so can't check.

Polly05

Can I ask a stupid question, can I transfer my isa from an old santander isa to the new one, online? Easily?

gwapenut

Polly05 wrote: »

Can I ask a stupid question, can I transfer my isa from an old santander isa to the new one, online? Easily?

Just call them up, last time I wanted to do that they simply redesignated my ISA over the phone and I was fully transferred within 10 minutes.

Can't be done online, I think.

Ellierose1

If you have Santander isa still fixed why not open fix rate for this years & next years allowance. Also open the direct isa @ 2.5% with nil balance. On maturity of existing fix rate on may 1st if unable to transfer to fixed rate opened for 12/13 & 13/14 allowance you could still transfer maturing isa to the 2.5% direct. Also worth opening 2.5% with nil balance for people who have Isa's maturing later in the year where isa rates may not be as good. Maybe worth doing as at the end of the year if you have a fixed Isa maturing you will remember reading this post and wishing had done when 1.75% is the best rate available which has been the case since sept 12 till march 13

innovate

Ellierose1 wrote: »

Also open the direct isa @ 2.5% with nil balance.

Min opening deposit £2,500. Plan dead in the water, I'm afraid.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237851469036&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2

Polly05

gwapenut wrote: »

Just call them up, last time I wanted to do that they simply redesignated my ISA over the phone and I was fully transferred within 10 minutes.

Can't be done online, I think.

Dont think theyre open at the moment :-(