2% 'Almost' Easy Access 40 days notice (amounts over £24k)

MARTYM8`

The account is now confusingly advertised on the application page as only paying up to 1.5% - not 2%.

That of course arises from the fact you need £24k to get the 2% rate - and that's not possible in 2015-16 now for new customers (but existing customers could of course!) as you can't make transfers in from today.

http://www.ybonline.co.uk/personal/savings/tax-efficient-savings/cash-isa-40-day-notice/

Still 2% over £24k on their interest rates page though

http://www.ybonline.co.uk/personal/savings/interest-rates-and-charges/#cash-isa-40-day-notice

beefturnmail

Received confirmation that my account is open (letter dated 15th April).

I was going to try to transfer another old ISA (which would raise the balance above £24k) by sending off the form tomorrow, and see what happens..., but of course they've pulled the transfer forms from their webpage, and I don't have a copy saved

I may try phoning tomorrow to see if they'll process another transfer. Intalax - were you told you could wait a couple of weeks, and then do the transfer?

If not, I guess I could withdraw and deposit from my old isa to take it over the £24k limit (sacrificing my isa allowance for the year), but with the savings allowance coming in next tax year, I don't think this matter too much. Think it's a bit cheeky that they've stopped accepting transfers at such short notice for existing customers

intalex

beefturnmail wrote: »

Intalax - were you told you could wait a couple of weeks, and then do the transfer?

I was told they'll send out a transfer form to me by post and that I would need to complete and return that specific form (not the one on the web-site). I was told it's accepted this correspondence exchange by post can take a couple of weeks, hence why it wouldn't be a problem. I was also told they record all calls, so I shouldn't worry if anyone advises me different in the near future.

I must say that it was a little bit about who you spoke to on the phone, as the first person I talked to was not as accommodating and it was only because of a bad line that I had called back and reached someone who actually was more practical about things.

beefturnmail

Received a letter dated 15th April and they still haven't processed the transfer (can see it still in my old isa). Is anyone else experiencing such delays?

MARTYM8`

beefturnmail wrote: »

Received a letter dated 15th April and they still haven't processed the transfer (can see it still in my old isa). Is anyone else experiencing such delays?

There is another thread addressing this now – my transfer last year took nearly 3 weeks from application to completion. And that was probably quite a quiet time – unlike early April.

beefturnmail

Thanks marty, once it goes through I want to deposit a chunk of money in there ti tip it over the 2% threshold. Do you know if I do it via internet banking or over the phone for this account, or do I have to use snail-mail cheques?

MARTYM8`

beefturnmail wrote: »

Thanks marty, once it goes through I want to deposit a chunk of money in there ti tip it over the 2% threshold. Do you know if I do it via internet banking or over the phone for this account, or do I have to use snail-mail cheques?

Do you have a YB/CB current account (if not why not apply for the £150 switch incentive?). If so your ISA account will appear in your internet banking and you can just pay funds into your current account and then transfer the funds in online to the ISA.

http://www.ybonline.co.uk/personal/current-accounts/switch-offer


Alternatively your ISA will have its own sort code and account number – so you can pay in electronically direct to that either via internet banking or through an online payment from your bank. So no need for postal cheques etc. You can also pay funds in via a branch.

If you don’t of course have internet banking (i.e. no current account) you will have to rely on paper statements each January – post the interest payment on 31 December.

YB/CB are fine once you get up and running……!