Santander ISA's launch on 8th March

RoxRoxBling

I've applied for the new santander cash isa. I already have a santander cash isa (opened last year).

When I applied for the new cash isa, online, I ticked the box saying I will fund this years tax allowance by transferring money from an existing santander account. - I intend to transfer old isa to new isa.

I've not been asked to fill in an isa transfer form.

I'm worried I've not done the right thing.

Will they transfer my old santander isa to the new santander isa or ask me to fill in a form first?

Edit: I have phoned Santander and have had my account issue sorted

savetilibleed

new_girl wrote: »

on looking at the application form for 2.5% direct Isa it says you cannot tranfer an existing Santander cash Isa so does that mean i cannot open this up to transfer my Santander Isa at 3.3 % which finish on 25th April or can i open it up and transfer after that date and also put in my 2013/14 allowance after 6th april this year

I understood that this was completely possible! I phoned yesterday to transfer my 3.3% ISA - last day of bonus 24 March - and as this is a Sunday and they are not open. I got told if I call on 25th it could be switched over in a few minutes. Or I could just do it today I suppose - might still so it's done as the interest loss is pennies only really. Interest on the new account would be paid from that day, so 24th at 3.3%, 25th and on at 2.5% :T and

funkyhitman

Hello,

I've already used up my 2012-13 allowance so was thinking of opening up a Santander ISA this tax year but not paying into it until the new tax year. I've noticed other people have or are thinking of doing this but i've seen this in Santander's general account terms and conditions:

3.3

If you do not pay into your ISA during a Tax Year and want to pay in a following Tax
Year, you will need to make a new application before we can accept your further
payment. This is a requirement of the ISA Regulations.

I guess we have to wait until 6th April before we can open a new ISA specifically for the new tax year?

Thanks for your help.

idb1979

I rang up today to transfer my 3.3 ISA over to this new one. I've already used my tax allowance for this year and queried this. They said it was no problem and the account was opened within a two minute phonecall.

innovate

You transferred a 3.3% to a 2.5% one? 2.8%? 3%? all lower than what you get?

charlieboycat

How long does it take Santander to give an existing 123 a/c cusomer a new ISA account number to put on the transfer-in form? For example, do they give you the ISA a/c number at the end of the application process? Or does it come in the post a week later? Thanks.

Charlie

idb1979

innovate wrote: »

You transferred a 3.3% to a 2.5% one? 2.8%? 3%? all lower than what you get?

The 3.3% bonus rate of my initial Santander ISA expires the first week of April. So it may be lower albeit for a week, but better than what it would reduce to once my bonus rate has expired.

savetilibleed

charlieboycat wrote: »

How long does it take Santander to give an existing 123 a/c cusomer a new ISA account number to put on the transfer-in form? For example, do they give you the ISA a/c number at the end of the application process? Or does it come in the post a week later? Thanks.

Charlie

I got one open a few days ago over the phone. They gave me the account no and sort code there and then. I also had online banking open and the new account appeared as I refreshed the view. They also did the transfer form for me on the phone and today I have postal conformation that they are progressing with the transfer (naming the bank concerned). It is a fixed term ISA being transferred in ending 2 April.
So other than needing to listen to two recorded messages about ISAs, it was easy and involved no legwork at all!

Woodyrocks

I am wanting to open the new Santander ISA. However, I am wanting to transfer in my old Santander ISA and also a 5 year ISA that is maturing as of April 6th. So can I open this account now to max it up with this current year's allowance AND also then initiate the dual transfer. Also, how would the 14 day transfer window rule work?

innovate

Woodyrocks wrote: »

I am wanting to open the new Santander ISA. However, I am wanting to transfer in my old Santander ISA and also a 5 year ISA that is maturing as of April 6th. So can I open this account now to max it up with this current year's allowance AND also then initiate the dual transfer.

Yes you can. There are 2 different transfer forms, and internal and an external one. You can also call Santander and ask them to do the internal transfer.

Woodyrocks wrote: »

Also, how would the 14 day transfer window rule work?

Not sure what your Q is?