The Newcastle Big Home Saver ISA

DesG

Same here, there was a User ID listed on the welcome letter. Just above the section titled "Logging on to your Account"

bsms1147

Got the 'We've received your first deposit' letter but haven't got the 'logging into your account / Welcome' letter.

I shall twiddle my thumbs in wait.

chaotic_j

Hi,

I opened one of these accounts on 03/06/2013 and pay into it on the 4th of each month. As of April, I've £5,568.31 in it and I've recently received an email to say I can pay up to a maximum of £1,250 each month due to the NISA announcement.

Would someone please be able to confirm that I can effectively carry on paying £1,250 into the ISA each month and I'll receive the advertised compounded interest rate on the total sum i.e. (approx)

Month 1: £13.92
Month 2: £17.08
Month 3: £20.24
Month 4: £23.42

So on and so forth..

By my calculations I'd receive around £377.34 interest whereas with Nottingham BS and their 4% Starter ISA Issue 4 (assuming I could even get it living outside of their areas..) I'd get around £329 i.e. I'd be better off keeping the Newcastle BS Big Home Saver ISA and carry on paying into it the maximum each month?

Also, since I've already paid £500 this month on 07/04/2014, I could pay an additional £750 with immediate effect?

Please advise.. thanks very much in advance for your help

Megatimbo

Hello ,I have opened one of these but with more modest savings


I wish I could save over a grand a month into it ,whatever job you do any going, I`ll send my CV off pronto


Good luck M

innovate

Chaotic_j, you would of course get more interest in a 4% account than in a 3%one but this is irrelevant now for you since you have already subscribed to the Newcastle ISA this financial year, and since you are not able to transfer the Newcastle ISA into the Nottingham one.

And yes, you can top up your April payment to £1,250 now.

hgt

chaotic_j wrote: »

Hi,

Also, since I've already paid £500 this month on 07/04/2014, I could pay an additional £750 with immediate effect?

As pointed out above, as your last deposit was on the 2nd day of the new tax year, you have already subscribed to this ISA for the current tax year. You could of course transfer out at any time, but the Nottingham BS account doesn't accept transfers, so you wouldn't be able to transfer to any other regular saving ISA.

So best off to stay where you are.... Plus the big advantage of the Newcastle account is it's not just for a year like the other regular ISAs. With this one, keep paying in and you get the 3% on the WHOLE BALANCE. So this ISA is pretty hard to beat in terms of interest unless you go down the current account route.

Gromitt

innovate wrote: »

Chaotic_j, you would of course get more interest in a 4% account than in a 3%one but this is irrelevant now for you since you have already subscribed to the Newcastle ISA this financial year, and since you are not able to transfer the Newcastle ISA into the Nottingham one.

The Nottingham one is also branch based with no withdrawals allowed until 2015 unless you pay 180 days interest penalty.

The Newcastle is online, only reduces the interest in the month of the withdrawal, but interest can change at any time.

chaotic_j

Megatimbo wrote: »

Hello ,I have opened one of these but with more modest savings


I wish I could save over a grand a month into it ,whatever job you do any going, I`ll send my CV off pronto


Good luck M

Oh I don't get paid THAT much :rotfl: if I was getting paid what I thought I was worth I would but.. chance would be a fine thing.. I've got some other savings I can drip-feed into the Newcastle BS ISA to maximise interest :T

innovate wrote:

Chaotic_j, you would of course get more interest in a 4% account than in a 3%one but this is irrelevant now for you since you have already subscribed to the Newcastle ISA this financial year, and since you are not able to transfer the Newcastle ISA into the Nottingham one.

And yes, you can top up your April payment to £1,250 now.

Oh of course! I 'sort of' realised this last night when I asked if I could now top up this months payment (but didn't twig about having already subscribed to an ISA in the year) well looks like it is the right choice anyway! Lady luck shines on me!

Thanks hgt and Gromitt, sounds like I am definitely better off with the Newcastle BS as I thought right, now I'll be off to make that payment - thanks to all who replied!

Deneb

Not off to a good start. Got my welcome letter this morning. Logged in with my new user ID and was prompted to change my password. Submitted the new password and got a php-sever error from Newcastle's website, so had to go back to the login screen to start again.

The login screen said that as this was my first time logging in I needed to enter my password in all upper case, and on subsequent occasions revert to case-sensitive entry. Bit strange, as I didn't get that message the first time, before the server error.

Anyway, tried my new password in upper case - not recognised. Tried my original password chosen during application, again all in upper case - not recognised. Tried my new password using upper and lower case as entered when I chose it, and got locked out of the account. So now I have to contact customer services on Monday to sort it out :-(

On the plus side, my OH managed to log in to her account 5 minutes later without any problems.

Gromitt

Deneb wrote: »

Anyway, tried my new password in upper case - not recognised. Tried my original password chosen during application, again all in upper case - not recognised. Tried my new password using upper and lower case as entered when I chose it, and got locked out of the account. So now I have to contact customer services on Monday to sort it out :-(

I got that as well, and got locked out of the account. However, clicking the "Forgot password" link gave me a new password that worked, and then allowed me to change the password back to what I thought it was in the first place. No problems since. No need to ring CS

So if you know your memorable data, try that before ringing.