The Newcastle Big Home Saver ISA

Chjaka

10_66 wrote: »

I rang them last week and was told it's anniversary month for all.


Frank121: If you ring them tomorrow and find out any differently, please post on here.

...............

Just noticed this thread. I opened and funded the account with the full £1250 on the 11th April and set up a standing order to fund the full £1250 on the 1st of each month. So far the payment for May has been accepted and is showing in the account.

I'm in two minds whether it's worth splitting the next couple of payments or not so I don't risk losing my last month of interest?

Either way I'll update after the 12th with what interest has been paid on the £2500 balance.

DesG

Chjaka wrote: »

I'm in two minds whether it's worth splitting the next couple of payments or not so I don't risk losing my last month of interest?

just make the last-1 payment £1249 and the last payment £1

Thats assuming they don't reject your payment on the 1st as it was before the anniversary date.

10_66

Chjaka wrote: »

Just noticed this thread. I opened and funded the account with the full £1250 on the 11th April and set up a standing order to fund the full £1250 on the 1st of each month. So far the payment for May has been accepted and is showing in the account.

I'm in two minds whether it's worth splitting the next couple of payments or not so I don't risk losing my last month of interest?

Either way I'll update after the 12th with what interest has been paid on the £2500 balance.

I'm sorry, I'm being really dense here, I don't understand why you think you'll be losing any interest. Surely as long as you make a payment into the account within the anniversary month you'll earn interest? By the way, not sure if you saw my earlier post, but the day you applied for and funded the account isn't necessarily the start date. I applied and funded mine on the 12 April, but they didn't open it until the 16 April, which is now my anniversary date.

bsms1147

Chjaka wrote: »

Just noticed this thread. I opened and funded the account with the full £1250 on the 11th April and set up a standing order to fund the full £1250 on the 1st of each month. So far the payment for May has been accepted and is showing in the account.

I'm in two minds whether it's worth splitting the next couple of payments or not so I don't risk losing my last month of interest?

Either way I'll update after the 12th with what interest has been paid on the £2500 balance.

Same position as you (opened on 15th of April), and payment has just gone through for the second month which many have assumed wouldn't have been allowed until after the anniversary date.

Assuming it continues and your month is 11th-10th, if you pay your £1250 in on the 1st each month, you'll always get inside that window. You've had two payments in this first 'month'; your third payment (June 1st) will cover the second month (May 11th-June 10th); fourth payment will cover third month etc. No need to split.

Gromitt

danielkian wrote: »

I have just made the same mistake. Did the payment go through ok or did it bounce back?

It got credited

I've adjusted now for the real account number and send another £1 test payment which arrived that night and will use from now on.

10_66

bsms1147 wrote: »

Same position as you (opened on 15th of April), and payment has just gone through for the second month which many have assumed wouldn't have been allowed until after the anniversary date...

I still don't understand. I was told by Newcastle that if £1,250 is paid in initially, then to qualify for interest on the "monthly" payments (if paying in the maximum), future payments should be within the anniversary month. If you've made your first payment of £1,250 on 15th, then how will you earn interest on any payments made during the same anniversary month?

Snowbelle

bsms1147 wrote: »

Same position as you (opened on 15th of April), and payment has just gone through for the second month which many have assumed wouldn't have been allowed until after the anniversary date.

Assuming it continues and your month is 11th-10th, if you pay your £1250 in on the 1st each month, you'll always get inside that window. You've had two payments in this first 'month'; your third payment (June 1st) will cover the second month (May 11th-June 10th); fourth payment will cover third month etc. No need to split.

I'm a little confused by this. Assuming you deposited the full amount on 15th April I thought that you would not be able to make any further deposits until 15th May.

Herbalus

Snowbelle wrote: »

I'm a little confused by this. Assuming you deposited the full amount on 15th April I thought that you would not be able to make any further deposits until 15th May.

That's the theory: up to the maximum in each monthly period starting on your start date. Whether this can actually be circumvented is another matter.

Archi_Bald

Snowbelle wrote: »

I'm a little confused by this. Assuming you deposited the full amount on 15th April I thought that you would not be able to make any further deposits until 15th May.

I have the non-ISA version of this account. I manually deposited some money on April 3, then some more on April 11 to make £1,250 for April, and my monthly SO for the full £1,250 started on May 1. Seems to all have been accepted alright.

Snowbelle

Can anybody tell me please how long FP take to show on this account?