LBS online bonus ISA

j0nathon2

That seems to be the case from others' discussions with Leeds, but their website is certainly not that clear.

Also, the clause about the minimum £1 does run on..

"14. The minimum subscription and operating balance is £1 and the maximum subscription is £5,760 in
the 2013/14 tax year plus previous years’ subscriptions whether held with the Society or another
ISA manager and accrued interest credited to the account."

LisaLJ

badger09 wrote: »

'Minimum subscription' - If an ISA accepts transfers in, this can be met by one or more transfers in from another provider.

If you are funding with new money - i.e. not a transfer from another provider, then they are insisting on a personal cheque, rather than online bank payment.

But as there is no requirement to fund with new money, there is no requirement for a personal cheque.

Now that's what I was hoping and thought it would be too but their website/application process does muddy the waters somewhat. It seems from various communications that the cheque is not needed if you are transferring an ISA, so I am going to take mine out of the envelope and just send them the ISA transfer form. I'm sure they will phone/email if there is a problem.

Ash1982

I've just opened the 2.5% santander ISA instead as the application process clearly gives you the option of 'no new money' and it specifically says on their website that the ISA is available to those who wish to transfer previous years only.

I'm a rate !!!!! but I aint going to die in a ditch over 0.05% or about £6 interest over the year!

Thanks to all for the help, I hope this thread has been useful to all.

badger09

Ash1982 wrote: »

I've just opened the 2.5% santander ISA instead as the application process clearly gives you the option of 'no new money' and it specifically says on their website that the ISA is available to those who wish to transfer previous years only.

I'm a rate !!!!! but I aint going to die in a ditch over 0.05% or about £6 interest over the year!

Thanks to all for the help, I hope this thread has been useful to all.

You're quite right. However, the Leeds Online Bonus ISA has a minimum opening balance of £1, whereas Santander needs £2500 opening deposit/xfer. To those of us looking for a home for other ISAs whose great rate falls off later this year - that is a big advantage .

ChopperST

I've just asked the same question to Leeds as I am moving both my own and my wife's ISA to Leeds, they told me that you have to send them a cheque as well as your ISA transfer form...

Going to do both to be safe, its only a pound!

Problem is the Mrs doesn't have a cheque book so we've got to order that to get it done.

typistretired

ChopperST wrote: »

I've just asked the same question to Leeds as I am moving both my own and my wife's ISA to Leeds, they told me that you have to send them a cheque as well as your ISA transfer form...

Going to do both to be safe, its only a pound!

Problem is the Mrs doesn't have a cheque book so we've got to order that to get it done.

Don't send a cheque that will mean you wont be able to open a new isa with anyone else this year unless you transfer the £1. Others like me on the forum have sent the signed isa application form and transfer application in the same envelope. The transfer form has a separate box for current year isas so they are expecting savers to only pay in previous years isas.

neil324

Opened one of these Saturday. Ticked the box to have the application posted to me and have received the email.....But no post.....

Stuck in the bin most likely now.

veryintrigued

neil324 wrote: »

Opened one of these Saturday. Ticked the box to have the application posted to me and have received the email.....But no post.....

Stuck in the bin most likely now.

Same here Neil. However I've checked online and its open (but obviously empty). Hence dont give up just yet!

toepazz

No longer available ...

veryintrigued

toepazz wrote: »

No longer available ...

We know - we're awaiting papaerwork from ones already opened