Santander ISA's launch on 8th March

ColdIron

20vt-rs wrote: »

From what i read it is a guaranteed 2 year rate, does thismean that it doesn’t receive any interest until the 2-years is up or do theyapply interest annually?

Interest is calculated daily and added to the account on 1 May annually.

It's not particularly important since you can't access it anyway

anna42hmr

Hi all

I currently have an isa with Lloyds tsb that was a fixed rate for 2 years. the account matures on the 5 april, so I cant transfer before then, (or I would loose over 100 days interest).

Has any one opened an isa with Santander (I am looking at the 2.5% direct saver isa) with a zero % balance with the intent of transferring over so far away. Or do they have the ability to request the transfer is not done before x date.

I am also probably going to use next years limit as well

I am torn about what to do whether to just wait till 6 April and open and fund with the new tax year and process the transfer after, or try and open with 0% and hope they don't transfer the old ISA before 5 April?

As it will be my luck that the rate will be pulled by then, as its not too bad comparing whats out there for none fixed isa's that accept transfers in.

20vt-rs

ColdIron wrote: »

Interest is calculated daily and added to the account on 1 May annually.

It's not particularly important since you can't access it anyway

Thats a good point and something I wanted to check. So once the money is in is it locked away for 2-years or can you access it? I don't plan on needing it but you never know!

Alex92_2

20vt-rs wrote: »

Thats a good point and something I wanted to check. So once the money is in is it locked away for 2-years or can you access it? I don't plan on needing it but you never know!

you can but you lose 120 days interest.

Please read the Ts and Cs of the account, its all on their website.

ColdIron

20vt-rs wrote: »

So once the money is in is it locked away for 2-years or can you access it? I don't plan on needing it but you never know!

You can access it but you will take a hit so you'd need a pretty good reason to do this

Partial withdrawals are not allowed. You can access the whole of your balance by closing the account or by transferring the cash ISA in full to another ISA. On early closure, a charge equivalent to 120 days’ interest will be applied to the account and no additional one-off bonus will be paid.

It's pretty reasonable actually, I have some fixed term accounts that will only release funds on death and even then I think they might want to come 'round and prod me to be sure

This information is all available in the T&Cs

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223430780770&cachecontrol=immediate&ssbinary=true&maxage=3600

SephirothX

Seems my earlier question about the transfer form got over-looked.

So does anyone know where to get the transfer form so I can transfer to Santander? There is a link to one on their website but it gives me an error when I open it.

"Please wait...
If this message is not eventually replaced by the proper contents of the document, your PDF
viewer may not be able to display this type of document.
You can upgrade to the latest version of Adobe Reader for Windows®, Mac, or Linux® by
visiting http://www.adobe.com/products/acrobat/readstep2.html.
For more assistance with Adobe Reader visit http://www.adobe.com/support/products/
acrreader.html. "

I've never had a problem opening a PDF before so I'm more likely to think it is their fault than my computer. I use PDFs all the time.

GreenBitterfly

This happened to me, and so seeing your post, makes me think it is definitely down to them that there is an error.

SephirothX

I found another transfer form on their website via Google but I don't know if I should use it because the address on the form is different to the address on their site!

The form I did find is this:
http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application/pdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223411399432&maxage=3600

ceredigion

They sent me an email when i opened my isa account with them ( already a 123 account holder) in the email there was a link to the transfer form . If i clicked on view i got the same message as SephirothX though if you click on download it worked fine.

SephirothX

Sounds like you used the internal transfer form. I can open that file no problem.