Santander ISA's launch on 8th March

latecomer

GreenBitterfly wrote: »

It's the locking away bit that puts me off transferring into the 2 year fixed rate. Whilst I've currently got an easy access ISA which I haven't touched in two or more years, I'm well aware that I may need the money in the near future, and as I'm not likely to have the full ISA amount any time soon, despite the slightly better interest rate, it seems a bit daft for me to lock the money away.

In which case why not put some in a instant access and the rest in the fixed. Open one today and the other next week.

enthusiasticsaver

Kips247 wrote: »

So i assume because its a right mess and no chance of it recovering till at-least 2015/16 its a no-brainer to get the 2 yr fixed then?

Also if its fixed till May 2015, does it mean the £5760 ISA allocation for April 2014 -2015 cant be added in? So gets wasted or you have to create a new one?

I am going to open the Santander 2 year fixed one this Saturday for 2013-2014 as I don't anticipate rates going above 3% (I have a Santander 123 account so will get the higher rate). You don't lose the Isa allocation for 2014-2015 though you will need to open a different one (probably a one year or easy access one)next April then if you want to you can merge the two isas at maturity of the 2 year fixed one on May 2015. That is what I am planning to do.

ColdIron

enthusiasticsaver wrote: »

I am going to open the Santander 2 year fixed one this Saturday for 2013-2014 as I don't anticipate rates going above 3%.

Why not open it today or tomorrow and beat the rush? I suspect they'll be working their socks off and that's when mistakes can be made. You're not committing yourself to anything and you can transfer on Saturday

Alonso14

Ive just opened the direct 2.5% isa, and paid into it from another bank online. Does anyone know how long it takes to receive online banking details, as the original email I received said I would be registered automatically for online banking? Thanks

Kips247

enthusiasticsaver wrote: »

I am going to open the Santander 2 year fixed one this Saturday for 2013-2014 as I don't anticipate rates going above 3% (I have a Santander 123 account so will get the higher rate). You don't lose the Isa allocation for 2014-2015 though you will need to open a different one (probably a one year or easy access one)next April then if you want to you can merge the two isas at maturity of the 2 year fixed one on May 2015. That is what I am planning to do.

Perfect, the answer i was looking for! Ive just setup my 123 account so i can also do the 2 yr fixed at 3% so for 2014-2015 just setup a new isa and then merge the two once it matures in May 2015 :money:

beecher2

Alonso14 wrote: »

Ive just opened the direct 2.5% isa, and paid into it from another bank online. Does anyone know how long it takes to receive online banking details, as the original email I received said I would be registered automatically for online banking? Thanks

I had to send ID documentation in which they would've received on Friday 22 March. Received my second letter with password information on it today so probably about a fortnight,

GreenBitterfly

innovate wrote: »

You could perhaps transfer some into a fixed term ISA, and the rest into an instant access ISA one (or keep it where it is)? It's perfectly legal to split your existing ISA that way, with one exception - - the current year''s fund must be transferred in full. But that not a huge problem, either this time of year - just wait a couple of days and then you can split your ISA money up to and including 2012-13 any which way you like.

latecomer wrote: »

In which case why not put some in a instant access and the rest in the fixed. Open one today and the other next week.

I only have a small amount of money in my ISA, around £1000, so I was debating whether it's worth fixing a relatively small amount away. I will be keeping my current easy access ISA at any rate, because the interest rate is at 2.80% until the end of May, and then it drops to 2.40% which isn't bad really.

saintalan

keefdawg wrote: »

I have a Flexible Cash ISA with Santander which has been running for a year. Today I have received a letter saying the current interest rate on your cash ISA includes a bonus which will end shortly.
From 9'th June 2013 you will receive the new interest rates detailed in the table below.
Current balance tiers: £1+ 2%, £8.5k + 2.5%, £14k + 2.75%
New balance tiers: £1+ 0.5%, £10k + 1.5%, £25k + 2.0%...

Is it time to move my ISA elsewhere?

Was just scanning here for some clarification.

I have what was called a Flexible ISA (Issue 3) which Santander renamed with many others to ISA Saver.

I have had this (3.3%) since March 2011 and added to in May 2012, so this now expires May 2013 so was looking through non current accounts interest rates and it says for Flexible ISA Issue 3 -

"Rate effective from maturity. Includes a variable bonus for 12 months. On balances between £1 and £8,499.99, a bonus of 1.50% tax free/AER (variable) will apply. On balances
between £8,500 to £13,999.99, a bonus of 2.00% tax free/AER (variable) will apply. For balances of £14,000+ a bonus of 2.25% tax free/AER (variable) will apply."

It then shows the tiered rates (+ Bonus) as 2%/2.5%/2.75% So does this not mean that e.g. for balances over £14k the rate should be 2.75% for a further 12 monts (in my case until May 2014?)

Thanks

Alan

ses6jwg

saintalan wrote: »

Was just scanning here for some clarification.

I have what was called a Flexible ISA (Issue 3) which Santander renamed with many others to ISA Saver.

I have had this (3.3%) since March 2011 and added to in May 2012, so this now expires May 2013 so was looking through non current accounts interest rates and it says for Flexible ISA Issue 3 -

"Rate effective from maturity. Includes a variable bonus for 12 months. On balances between £1 and £8,499.99, a bonus of 1.50% tax free/AER (variable) will apply. On balances
between £8,500 to £13,999.99, a bonus of 2.00% tax free/AER (variable) will apply. For balances of £14,000+ a bonus of 2.25% tax free/AER (variable) will apply."

It then shows the tiered rates (+ Bonus) as 2%/2.5%/2.75% So does this not mean that e.g. for balances over £14k the rate should be 2.75% for a further 12 monts (in my case until May 2014?)

Thanks

Alan

no it will become an isa saver.

santander are simplifying their back book of savings, starting with isas and all non-current issues will become an isa saver or easy isa.

saintalan

ses6jwg wrote: »

no it will become an isa saver.

santander are simplifying their back book of savings, starting with isas and all non-current issues will become an isa saver or easy isa.

Thanks, so basically they can change their stated rates on existing products, or am I reading it wrong?

Cheers

Alan