Should I continue paying in my last year ISA Conventry 3.1?

TheCrazyTravel

Hello,

I open on January an ISA with Conventry BS, the 3.1 ISA 60 days notice, and I put my maximum allowance there on that month.

Now I have not open yet any new ISA, and I would like to pay in my maximum allowance somewhere. I got a letter from Conventry with the conditions of my actual products (Important information and interest rates) and the wording seems to mean that I can continue this year with my last year ISA. Is it that right? Can I put this year allowance in the same account?

If I am right, would it be the right move? As right now the interest rates are quiet low, the 3.1 would still be the best option out there.

Anyone can confirm me that this is what I should do?

Thanks!

helptoyou

Hi See below.

Paying money in
The minimum opening deposit is £1. The maximum you can pay in is £5,640 (2012/2013 cash ISA allowance only). You can make additional deposits to your account (subject to the maximum investment limit) up until 5 April 2013.

I would suggest you call coventy B/SOC to clarify that you cant pay this years allowance 13/14 in . I also see that the 3.1% rate is guaranteed until 29/11/2013 so i would leave last years allowance there until at least then.

If you cant pay in this years allowance just look at the following link for best rates around

https://forums.moneysavingexpert.com/discussion/401374

TheCrazyTravel

I just called them, I can not continue with the same ISA account. Thanks for the help. ;-)