Transferring this year's Santander ISA to London Mutual Credit Union

thesaver79

Hi,

I've just noticed that creditunion.co.uk offers a 3% ISA for residents in Southwark.

My ISA with Santander, where I hold this year's and previous years' savings, offers 2.5% only.

Do you know if the Direct ISA Issue 1 imposes any penalty on closure?

innovate

thesaver79 wrote: »

Hi,

I've just noticed that creditunion.co.uk offers a 3% ISA for residents in Southwark.

My ISA with Santander, where I hold this year's and previous years' savings, offers 2.5% only.

Do you know if the Direct ISA Issue 1 imposes any penalty on closure?

What do your T&Cs say?

thesaver79

innovate wrote: »

What do your T&Cs say?

I'll go through them. Thanks.

Obviously, I asked in case someone already knew.

beachsylv

You just complete the transfer form that instructs them to transfer the accounts in line with the conditions of the account - so they will move it over within the correct notice period, avoiding charges.

You have to request the transfer form by email though and it takes 10working days for them to process it.