Transfer to Fixed Rate ISA

Anagran

I opened a fixed rate cash ISA with HBOS in 2009. The rate was advertised to be 3.5% fixed for two years and I think it was a condition that you could only put one initial deposit in and could not add your new allowance to it in the second year (not sure)? I put in one deposit and have not touched the account since. I have been checking on this today and was wondering if anyone could help with some questions.

I expected the rate to drop after the 2 year period but it seems to still be 3.5% Could this be right or is it a mistake? It seems higher than most accounts currently available.

When I look at the account online there is a link to transfer an existing ISA to this one. I didn't think I was able to add any more to this account, or can I do this now the two years is up?

I am tempted just to try a transfer and see what happens, but also a bit scared this would "draw attention" to the account and they would notice the interest rate was wrong and reduce it. Would that be likely to happen?

Thanks

A.

david78

It could just be the wrong value is shown online and you are getting a very poor rate of return. You will have to check with them. There's no point in transfering money in if you have the "worry" that you are being overpaid and that Halifax might find out and take the interest away at a later time. Much better to know exactly where you stand.