Help to buy ISA hiccup

SKIPPY

Son has just made a boo boo and transferred 70 into his help to buy isa instead of his current account. It's a few days before he should be paying in the monthly 200 - has he messed up his chances of getting the bonus now or can he just transfer in the remaining 130 when its due?

george4064

SKIPPY wrote: »

Son has just made a boo boo and transferred 70 into his help to buy isa instead of his current account. It's a few days before he should be paying in the monthly 200 - has he messed up his chances of getting the bonus now or can he just transfer in the remaining 130 when its due?

You need to read the T&C's of the bank he has his HtB ISA with...

Different banks have different rules, so you need to check.

Chapuys

I would contact the bank to see what they think. DONT withdraw it for now. It may affect the bonus. I would probably still pay in the £200 for now too as the extra money was put in in the wrong month for that next payment.

According this this article in the Telegraph about ISAs in general, it states you need to contact HMRC to flag ISA overpayments. It is HMRC who will spot the overpayment if you didn't. The ISA needs to be 'repaired' by a refund from HMRC I think.