Where is the Tesco ISA transfer form?

vigman

Hi

I want to transfer in an ISA to a Tesco ISA. There are references to downloading the transfer form when in online banking....but I just can't find it.

One option in support says to find the form "by clicking on your Tesco Bank Cash ISA account and clicking the “Find out more” button next to “Cash ISA transfer". There is no "Find out more" option???????

In an old thread here there is a link to the form but this comes up with "PDF unable to load"

I know I can ring, or request by post, but please can anyone tell me where this form actually is on the Tesco online banking site before I go mad (to go along with the acute pain of a trapped nerve I have already and probably it is the strong medication causing me to fail to see the blindingly obvious!)?

TIA

Vigman

colsten

I reckon that is your guardian angel protection you from making a rash move. Why would you want to transfer an ISA to Tesco if you can get better interest with other ISA providers? How much is in your ISA? What are you saving your cash for?

vigman

I had a Tesco fixed ISA of £17k that was converted to a low paying account on maturity when I was in hospital. Their new 1 year fixed pays 1.75% and I have moved the existing balance to that. I have 2 M&S ISAs maturing and their new fixed 1 years rate is 1.4%

I was going to transfer these to the Tesco 1.75% 1 year ISA. I have looked at the info here and 1.75% seems pretty good with places like the Post Office being 1.5% for a year?

The 2 M&S ISAs add up to £25k. We have 2 Santander 123 accounts with £20k in each

Any advice welcomed

TIA

vigman

masonic

vigman wrote: »

I had a Tesco fixed ISA of £17k that was converted to a low paying account on maturity when I was in hospital. Their new 1 year fixed pays 1.75% and I have moved the existing balance to that. I have 2 M&S ISAs maturing and their new fixed 1 years rate is 1.4%

There are better fixes described here: https://forums.moneysavingexpert.com/discussion/401374
but...

The 2 M&S ISAs add up to £25k. We have 2 Santander 123 accounts with £20k in each

Presuming that's not the royal "we", then you could open a joint 123 account (or sole account in your partner's name - depending which you already have) to cover another £20k, with the remaining £5k stashed into a Club Lloyds (4%) account. That's the least hassle path to getting some more interest. There are obviously more laborious ways of increasing the interest further.

vigman

To clarify, I have a Santander 123 account and so does my wife. I recently posted to ask if we could have a third, joint, account but we can't!

1.75% on Tesco 1 year is fairly high up the list so I won't be moving that cash out in the 30 day cooling off period. Not sure where to put the M&S maturing ISAs but maybe also to the Tesco one.

I have a £19k NS&I savings bond maturing soon (4%...read it and weep!). My wife is now a non UK taxpayer, so the 1.9% Tesco savings account also seems pretty good.

Thanks for the replies

Vigman

eskbanker

vigman wrote: »

To clarify, I have a Santander 123 account and so does my wife. I recently posted to ask if we could have a third, joint, account but we can't!

Santander's terms allow this, who said you couldn't?!

vigman

I must have misread this reply:

"You may only hold a maximum of two 1|2|3 Current Accounts, one in your own name and one in joint names.

You can have an account in your name and a joint account.

Your wife can have an account in her name and a joint account.

The joint account is your second account."

Vigman

eskbanker

vigman wrote: »

I must have misread this reply:

"You may only hold a maximum of two 1|2|3 Current Accounts, one in your own name and one in joint names.

You can have an account in your name and a joint account.

Your wife can have an account in her name and a joint account.

The joint account is your second account."

Vigman

Yes indeed, it looks like you must have misread it - a couple can have one sole account each plus a joint one shared between them, i.e. three in total, which is compliant with each of those sentences, albeit only the bolded bit is actually Santander's words, the others are interpretation on here. Each reference to 'you' or 'your' should be read in the singular if that helps.

vigman

Thanks, everyone.

For those that had two single 123 accounts between partners, what is the (easiest) procedure for setting up the joint account, please?

I have looked at the Santander site and there are current account options for existing customers (eg to transfer other bank accounts to their 123 account) or new customers.

I know I can ring the helpline but would be interested to hear advice from folks here who have set up the additional joint account on top of the partners' single accounts.

Also meant to ask if an existing R85 on one of the single accounts, covers that person's share of the joint account?

TIA

Vigman

vigman

To answer my own question, just start filling in a new 123 application for a joint account and the system knows all about your existing accounts and starts filling in most of the online forms. The joint account appeared immediately in my online accounts and I could fund it from my Barclays account.

Still waiting to hear if my wife's existing R85 counts for the new account?

Vigman

Vortigern

I think you'll find that the R85 is applied on a per account basis (not a per person basis)

Santander allows registration for tax free interest online. Your wife will need to log on and select tax free for the new joint account.

Basic rate tax will be deducted from your half of the interest only.