Santander ISA's launch on 8th March

katies_mum

Thanks rb10, thats how I would have thought it worked. I`ve just seen the above on the Santander site..its really confusing

Competitive rate of 2.80% AER tax free (fixed) for two years. Matures 1st May 2015.

Its meant to be a 2 year ISA? not 2 years and a bit..

KonkyWonky

Is there anything to stop me opening the 123 Major Isa immediately but not fund it until the first day of the tax year? I've already invested my 12/13 allowance but would prefer to open the account for 13/14 on the off chance the deal is pulled.

ColdIron

Nothing at all as far as I know

GreenBitterfly

I thought it had to be funded within 14 days of opening?

ColdIron

You need to return the transfer forms within 14 days but you have until 31/5 to fund it with next years allowance

classy69

I opened a Direct ISA on Friday, and went armed with my Cash ISA Internal Transfer form to my local Santander, thinking this would be a straightforward process! Is it right that the general bank clerks cannot process this, and I need to make an appointment with the ISA advisor, or am I being led down a garden path?

gwapenut

Just phone them up, they should be able to redesignate the account within 10 minutes ....

katies_mum

After a point I made yesterday regarding the maturity date on this 2 year ISA, the date it matures is 1.5.2015 so its 2 years plus the remainder of March and April.

I know 2 years is a long way off but the decent ISA rates usually seem to be issued around March time, so as this doesn`t mature until 1st May then would this mean we might miss any decent accounts. Wondering if I have done the right thing now. I know many of you understand accounts etc a lot better than me, in your opinion does the maturity date make any difference as I would hate when it matures to be stuck with money in an account that pays zilch that I can`t transfer..hope this makes sense?

The_Enforcer

It says minimum opening balance has to be £2,500+:

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

I can't see anything that confirms that the 'operating balance' can subsequently drop below £2,500, does anyone know whether this is the case?

Cheers,
TE

beecher2

The_Enforcer wrote: »

I can't see anything that confirms that the 'operating balance' can subsequently drop below £2,500, does anyone know whether this is the case?

Cheers,
TE

Account balance can drop below £2,500 after opening and remain eligible for the stated rate.
(quoted from your link)