Tell us you cash ISA questions

Citychick

MSE_Sally wrote: »

Hi folks,

We've just updated our Cash ISA guide to include FAQs at the end. We'd love to know if we've missed anything so if you've got an ISA question we've not already answered, post it below and we'll try to help.

Thank you

MSE Sally

HI
i put 15k into an isa with Santander in June and took it out in July. Santander will now not let me put the 15k back in before the end of the tax year. Am i allowed to put the money in an isa elsewhere?
many thanks for your help

colsten

Citychick wrote: »

HI
i put 15k into an isa with Santander in June and took it out in July. Santander will now not let me put the 15k back in before the end of the tax year. Am i allowed to put the money in an isa elsewhere?
many thanks for your help

You have used your entire allowance for the current tax year so no, you cannot put any more money into any ISA before the new tax year.

jimjames

Citychick wrote: »

HI
i put 15k into an isa with Santander in June and took it out in July. Santander will now not let me put the 15k back in before the end of the tax year. Am i allowed to put the money in an isa elsewhere?
many thanks for your help

An ISA probably isn't the right account if you want to put money in and out like that although the rules from next year may allow it.

Steph312

If I top up my isa today, and the transaction been confirmed by my bank will it only clear by 7th April because of bank holidays, hence be part of next year's 15/16 allowance? As online it's showing the correct top up balance on 7th April?

colsten

If you deposit by debit card today, or any time before April 6, this will count as a 2014-15 deposit. Doesn't matter when the transaction shows as completed in your bank account.

It's a bit like buying a sandwich with your contactless card. You are allowed to eat the sandwich before the retailer sends the transaction to your bank.

Gateway53

I opened a two year fixed rate Cash ISA with Santander in April 2014 with a lump sum. I have not contributed to it since then and there is a year to go until it matures in April 2016. Can I still open a separate Cash ISA for this tax year 2015/2016?

masonic

Gateway53 wrote: »

I opened a two year fixed rate Cash ISA with Santander in April 2014 with a lump sum. I have not contributed to it since then and there is a year to go until it matures in April 2016. Can I still open a separate Cash ISA for this tax year 2015/2016?

Yes, you can.

Scotty1869

My wife & I each have instant access ISA's with Lloyds which we want to transfer to a fixed rate with Halifax to get a better rate. However, despite the fact we already both have fixed rate ISA's in place from earlier years, Halifax want my wife & I to visit their office to open a new account for the NEW ISA's. Unfortunately, my wife is in hospital and only Solution Halifax has offered is for me to get Power of Attorney to act on my wife's behalf. They will not accept a letter of authority from my wife. Any suggestions or will I have the same problem elsewhere

eskbanker

Scotty1869 wrote: »

My wife & I each have instant access ISA's with Lloyds which we want to transfer to a fixed rate with Halifax to get a better rate. However, despite the fact we already both have fixed rate ISA's in place from earlier years, Halifax want my wife & I to visit their office to open a new account for the NEW ISA's. Unfortunately, my wife is in hospital and only Solution Halifax has offered is for me to get Power of Attorney to act on my wife's behalf. They will not accept a letter of authority from my wife. Any suggestions or will I have the same problem elsewhere

Can't you open the accounts online, or have you done so and then been referred to branch for ID verification? Seems odd that as customers of multiple Lloyds group accounts already they'd be insisting on opening savings accounts in branch.

You could try opening ISAs online with other providers, see https://forums.moneysavingexpert.com/discussion/401374 for a list, many of which offer better rates than Halifax....

Scotty1869

Thanks for your suggestion. Neither Halifax or Lloyds seem to have heard of common sense or treating customers fairly !