Santander ISA's launch on 8th March

oldfella

SallySunshine wrote: »

Hi ColdIron,

Also, I'm sure I read on their T&C that interest would be be paid on transferred ISAs from the moment the maturity occurred however long it took to be moved over.
Can't find that info now though, this was after I'd been told that no interest would be applied until they had actually received the transfer funds.

the regulations are quite clear on this ...
"Your new provider will backdate interest to the first day where interest no longer accrues on the funds being transferred from your old ISA. In addition, your new provider will start paying the new interest rate from day 16 at the latest regardless of whether the transfer has completed within the standard 15 business
day timeline (pended cases excepted)."

DragonQ

A lot of cash ISA providers also pay interest from the day you hand in the transfer form, so you can earn double interest for a week or two.

carlo_koko

innovate wrote: »

You also cannot deposit in a new ISA until 6/4/13 if you haven't used your entire 2012-13 allowance unless you first transfer your entire existing 2012-13 ISA to the new ISA. Such transfer must be requested with the new provider, they will do it for you. Do not do it yourself.

If you get 2.05% in your instant access ISA, and there is a 2.5% one which allows transfers in, there should be no dilemma. Just open the 2.5% one, fill in the transfer request and sit back. As soon as the transfer has hit the new ISA, you can make further deposits if you have any allowance left.

I'm with Santander every day account .To apply for 2.50% cash ISA do I need 123 account?
All transfer need to be done from April 6th on?
thanks.

carlo_koko

adewalton wrote: »

No not really!!!!
Just means I can't open till after 6th of April.
Will have to hope it's still available I guess!!!

It says allowed to open with nil balance if transferring in so was just wondering?

I agree,You can open Santander C.ISA with 0 balance,then on April 6th ,transfer the minimum requested of £2500.I guess?

SephirothX

After I complete my transfer can I go ahead and cancel the Santander cash card they forced me to sign up for? I'll never use it.

innovate

Never heard of a cash card being a pre-req for an ISA. Does it cost you anything? Are you required to use it regularly? If 'no' to both questions, why not just keep it? Might come in handy at some stage.

SephirothX

There's a question on the application process that asks if you want to use your existing Santander account or to open a new one. Or something like that I can't remember the exact wording. I clicked the latter since I don't have a Santander account. Got details of my cash card in the post.

Not sure how a cash card with £0 on it could come in handy though.

anna42hmr

SephirothX wrote: »

There's a question on the application process that asks if you want to use your existing Santander account or to open a new one. Or something like that I can't remember the exact wording. I clicked the latter since I don't have a Santander account. Got details of my cash card in the post.

Not sure how a cash card with £0 on it could come in handy though.

looking at below, you can withdraw from the isa with at cashpoints so that's probably why for when you fund the isa?

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

ses6jwg

My suspicion is that the ISA range that is out now will remain unchanged until 1/5/2013.

This is because all the 2 year major ISA mature on the 1/5/2013 regardless of whether they are opened in March or April.

BobQ

ses6jwg wrote: »

My suspicion is that the ISA range that is out now will remain unchanged until 1/5/2013.

This is because all the 2 year major ISA mature on the 1/5/2013 regardless of whether they are opened in March or April.

Presumably why the new santander ISA allows transfers in up until 31 May?