HSBC Advance Save Together

MARTYM8`

adindas wrote: »

Because if it is from new money e.g from this tax year allowance, it will mean you will be tied up to this ISA. If you have money later in this tax year you will have to put your ISA money on here.
Keep in mind for new money on ISA you are only allowed to have it from one provider. If it is from previous tax year you could keep it in several different providers. So just put £300 from previous tax year on here (if they agree to do that) to earn max £120. The rest of your ISA money from previous tax year could sit elsewhere could sit elsewhere where they will earn more interest.

I fully appreciate that - but they will know the source of your funds depending on how you invest. Either you pay money in direct- so its a new subscription for the current tax year or you use a transfer form to move funds from another provider.

If you use a transfer form it will say its prior year or current year and treat it accordingly - and your old provider will confirm this.

The £10 monthly bonus is in effect just extra interest - its not an implication you have to invest your 2015-16 ISA will them. You don't.

As has been said - the terms could not be clearer!

"Single payments and lump sum payments can include transfers from another ISA"

Ifts

Ifts wrote: »

I had a look at my Loyalty ISA in online banking and it was showing as LOY ISA BANK instead of LOY ISA ADV.

HSBC have rectified their mistake, when I log into Internet Banking it no longer says 'LOY ISA BANK' and is now showing correctly as 'LOY ISA ADV'.

fonsde

I have got a LOY ISA ADV, but still no £10..

//I have made two transfers of more than £300 from my current account

MARTYM8`

fonsde wrote: »

I have got a LOY ISA ADV, but still no £10..

//I have made two transfers of more than £300 from my current account

When did you make the transfer? If you did them in March and haven't had your £10 by tomorrow call them - if you paid in April you won't get your money until next month.

fonsde

why? I thought it is the month you pay in, the month you get the £10.

I opened the ISA for the new FY and made the payment in April

fonsde

We will make the additional interest payment(s) between 11th and 31st of the month following the month you make a single payment or a lump sum payment

actually you are right

Westie983

I got my £10, so you don't have to use your current tax allowance or transfer in from an existing Isa as my £300 was money from my current account not in a Isa....

Thought I would share...

MARTYM8`

I think there is a clear message for all concerned - including HSBC staff - read the terms and conditions and all becomes very clear.

http://www.hsbc.co.uk/1/2/savetogether

copperjar

I opened a loyalty cash ISA and had my documents through the post but no mention of the Save Together offer on my documents. Will wait to see if interest shows then contact them

badger09

Westie983 wrote: »

I got my £10, so you don't have to use your current tax allowance or transfer in from an existing Isa as my £300 was money from my current account not in a Isa....

Thought I would share...

Westie983

Your post might confuse people who wish to take advantage of the Save Together Loyalty Cash ISA now

If they do, they have 2 options:
1) transfer in from an existing ISA

2) pay new money in, either £25 per month or a lump sum minimum £300 - in which case they will be using some of this year's ISA allowance