Santander Cash ISA 2014

savetilibleed

M271 wrote: »

Thats the issue, the account detail (when I click the opening accounts page) just says 2 YR Fixed Rate ISA 01/05/2016 not with the prefix 123. People, including myself, are just curious why 123 is not mentioned and are we getting the higher 2.3% for 123 account holders rather than the 2.0% for for non 123 account holders. There doesn't seem to be a way to find out online what rate I have actually been put on, it didn't even mention it on the confirmation emails, just says ISA application.

Hmm, yes I see. Rather inconsistent aren't they. Maybe you'll have confirmation if you get something in writing. Not good though.

M271

Have phoned Santander this morning and they confirmed that I was signed up for the 123 2.3% 2 yr fixed ISA, even though it doesn't mention 123 on the account detail online.

Archi_Bald

Have you asked for confirmation in writing? I wouldn't just take someone's word for it.

nickcooperoakham

I also called Santander to confirm Fixed ISA was indeed the 2.3% one and was told that they were aware of the problem and that the account details should change to 123 within 5 working days and will also be confirmed by the paperwork in the post. We shall see...

Moneysign

A stupid question but I currently have a Santander ISA 2013/14. Can I transfer to the new 2014/15 ISA and still use my remaining moneys in this tax year once transferred?

ColdIron

You can transfer your 2013/14 ISA as long as it was the easy access one and not the 2 year fixed Exclusive Major ISA. I have a recollection that last year's easy access was 2.5% and the current offering is less than that though so check what you are doing

You can use the remaining money from this tax year, 2013/14, in this tax year, as long as you have not used all of this years allowance (£5,760)

innovate

ColdIron wrote: »

You can use the remaining money from this tax year, 2013/14, in this tax year, as long as you have not used all of this years allowance (£5,760)

And as long as the ISA taken out wasn't the 2-year fixed term one

brutus6

drlabman wrote: »

Yes you're missing something. Santander only pay 3% upto £20K. Any surplus earns nothing.

The £20K issue would be a nice problem to have, but I understand your comment.

I am earning 3% at the moment, as I have over £3k. So I am still better off after tax with the 123 current account.

Apart from the fact that it's a blooming nightmare (any I mean a real pain in the ..... ) to manage my personal cash-flow with my savings and spending money all in one place, are there any other reasons for me to fix into this ISA now before D-Day?

i.e. anyone think they will pull the 3% rate on the 123 current account? I can only see interest rates going one way once the BE eventually increase the base rate... Maybe not straight away.

Think I'll stay put for now...

Wammer

I understand that the 123 ISA must be funded within 14 days. Does that also apply to transfers?

My existing 2 year fixed Major ISA is due to mature on 01.05.14. If I use the Upgrade option to transfer this to the new ISA, will there be a penalty of 120 days interest if it needs to be done with 14 days of opening the account?

Archi_Bald

brutus6 wrote: »

i.e. anyone think they will pull the 3% rate on the 123 current account? I can only see interest rates going one way once the BE eventually increase the base rate..

They can drop the interest rate on the 123 any time they like since it is variable. There is nothing that forces them to keep or up the rate.