Coventry Poppy ISA

TomsMom

The answer to this question is probably obvious but I'm having a senior moment .

I opened a Coventry Poppy ISA last year. I haven't yet done anything with my ISA allowance for this year. The Poppy ISA is now showing as a Closed Account. Does this mean I can't add to it and must look elsewhere to put my allowance this year?

Apologies for what's probably a daft question .

latecomer

(Hi TM )

Most fixed rate ISAs only allow deposits at opening or within a short period of doing so - quick google shows that this is true for the Poppy ISA

http://www.coventrybuildingsociety.co.uk/savings-and-investments/productfeatures.aspx?prodCode=POPI1&CTALinks=False

Paying money in

The minimum opening deposit is £1. The maximum you can pay in is £5,760 (2013/2014 cash ISA allowance only). You can make deposits to your account (subject to the maximum investment limit) up until 5 April 2014.

PS hope all is well with you - LLC now 3 and 1/2!

MRMX9

You were only able to add funds to the poppy isa in the 2013-14 tax year. So you cannot top it up now – so will have to find an alternative home for your 2014-15 ISA.

The poppy isa paid 2.6% instant access for the first year – and then drops to 2% on maturity. So I would leave the existing funds there if you want instant access as you won’t get a better rate via a transfer.

TomsMom

latecomer wrote: »

(Hi TM )

Most fixed rate ISAs only allow deposits at opening or within a short period of doing so - quick google shows that this is true for the Poppy ISA

http://www.coventrybuildingsociety.co.uk/savings-and-investments/productfeatures.aspx?prodCode=POPI1&CTALinks=False



PS hope all is well with you - LLC now 3 and 1/2!

Hi LC - Funnily enough I was trying to work out the other day how old LLC is now. Hope you are all OK.

I didn't realise it was a fixed rate one , see, told you senior moment day!!!

TomsMom

MRMX9 wrote: »

You were only able to add funds to the poppy isa in the 2013-14 tax year. So you cannot top it up now – so will have to find an alternative home for your 2014-15 ISA.

The poppy isa paid 2.6% instant access for the first year – and then drops to 2% on maturity. So I would leave the existing funds there if you want instant access as you won’t get a better rate via a transfer.

Thanks . I was looking at current rates and realised I was getting better with my Poppy one, everything is pretty dire at the moment. Hopefully something will catch my eye in the not to distant future.