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FSCS protection change
curious1?
Posts: 1 Newbie
With the information of the £85,ooo reducing to £75,ooo in January 2016 how can one protect yourself if you have a ISA bond that is tied in until 2019 without loosing the advantages of tax free allowance as I understand you can withdraw your funds pre the bond maturity BUT not transfer / partial transfer?
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Comments
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as I understand you can withdraw your funds pre the bond maturity BUT not transfer / partial transfer?
Have you checked to see if your cash ISA provider will allow a partial transfer?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Is your bond at exactly £85,000? Or do you have other money with same bank?Remember the saying: if it looks too good to be true it almost certainly is.0
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I understand that the PRA will be entering into a period of consultation from August, presumably they will address ISAs at the same time, see
http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-limit-changes/#question9
And perhaps
http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-limit-changes/#question110
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