Halifax fixed ISA online help

zerocool237

So today, my ISA saver online ended and I've converted it to there 18 month fixed ISA and Halifax has already changed the account over, which has impressed that they converted the ISA that quick, anyhow looking at the account online, the ISA saver online had the boxes for topup's, payments, transfer, this ISA has no boxes, so I'm wondering if this is how it looks to everyone else? because I'm wondering come july, how I make the extra deposit for the NISA?


What I should add is I had already made the deposit for this years allowance on Monday in the ISA saver online.

Lokolo

Fixed term ISAs do not usually allow additional deposits. Unless Halifax are very generous you will not be able to top up in July.

Edit - https://forums.moneysavingexpert.com/discussion/4940867
This thread, second post, seems to indicate you would be allowed to come July.

Chino

Lokolo wrote: »

Unless Halifax are very generous you will not be able to top up in July.

From the "Halifax Cash ISA Conditions and information" for the ISA Saver Fixed account:

"Opening an ISA Saver Fixed – You need at least £500 to open this account, in one of our branches, over the phone or online. You have up to 60 days from account opening to pay into it. After the 60 days you cannot pay any more money into your ISA Saver Fixed."

(http://www.halifax.co.uk/isas/pdf/cash-isa-account-conditions.pdf)

So someone opening an ISA Saver Fixed account in the middle of April could still make deposits into the account until the middle of July.

claire07

I've just done the same as you and I was sure I checked that before transferring mine. I've just checked and this is what it says:

Save up to £5,940 until 30 June 2014. From 1st July the annual ISA subscription limit will increase to £15,000 as per the Budget announcement on 19th March 2014. You can choose to invest any remaining allowance in a cash ISA, a stocks and shares ISA or a combination of both providing you don’t invest more than £15,000 in total during the 2014/15 tax year.


So I'm taking this to mean they will allow extra payments into it from 1st July.

Chino

Chino wrote: »

So someone opening an ISA Saver Fixed account in the middle of April could still make deposits into the account until the middle of July.

Apologies - I retract that comment. For some reason I was thinking 60 days was three months!

So someone opening an ISA Saver Fixed account in the middle of April could only make deposits into the account until the middle of June.

zerocool237

but the 60 days mentioned is contradictory to its information on its site fixed ISA page where it mentions


"All deposits must be made within 180 days of account opening"


"Deposit between £500 and £5,940 until 30 June 2014. From 1st July the annual ISA subscription limit will increase to £15,000 as per the Budget announcement on 19th March 2014"

Lokolo

claire07 wrote: »

I've just done the same as you and I was sure I checked that before transferring mine. I've just checked and this is what it says:

Save up to £5,940 until 30 June 2014. From 1st July the annual ISA subscription limit will increase to £15,000 as per the Budget announcement on 19th March 2014. You can choose to invest any remaining allowance in a cash ISA, a stocks and shares ISA or a combination of both providing you don’t invest more than £15,000 in total during the 2014/15 tax year.


So I'm taking this to mean they will allow extra payments into it from 1st July.

Where does it say this? Unless that is stated in the fixed term ISA T&Cs, I don't think it is applicable.

That paragraph is very generic, not specific to anything. Although the subscription limit will raise in July, it doesn't mean you will be able to deposit into your fixed term ISA in July.

Although I trust the other poster that has said Halifax will allow it, I would try and find somewhere it is written down. The words must be along the lines of "When the limit raises in July, we will allow you to make additional deposits into your fixed term ISA, even past the initial deposit deadline date."

Chino

It's certainly possible that the account conditions are out of date. However, if I was relying on the 180 day limit, I would want to ask Halifax to clarify the contradiction:

"We recommend you read the account conditions carefully as they form a legal contract with us. If there is anything you do not understand, please contact us before you agree to them (as part of the application)."

zerocool237

This page on Halifax's website shows you can make additional payments


http://www.halifax.co.uk/savings/landing/nisa-information/?srnum=10


"We've changed our conditions to allow customers who open an ISA Saver Fixed to take advantage of this increased allowance. Any Fixed ISAs opened or rolled over between 11th March and 30th June (inclusive) will have an extended funding window of 180 days, up from the standard 60 days. This means any ISA Saver Fixed accounts opened up to 30th June can be topped up to the new limit of £15,000 from 1st July – great news for savers."

Snowbelle

Would that mean you could open one now and not pay anything it to it for 180 days - giving you the option of anything better coming along before the time limit?

melbury

Snowbelle wrote: »

Would that mean you could open one now and not pay anything it to it for 180 days - giving you the option of anything better coming along before the time limit?

I was wondering this; my current ISA doesn't expire until 24th April, so could I open the Halifax account with the present 2014/2015 allowance, then transfer my current ISA in after 24th April and then pay in the additional allowance in July?