6.55% Cash Isa from Britannia ends tomorrow cos they've run out of money!

Miss_Sparkly_Star

Thanks to Kazza's great list on the best ISA's http://forums.moneysavingexpert.com/showthread.html?p=4603369
I decided to go into Britannia and open their 6.55% Fixed Rate Mini Cash Isa.

On the Britannia website it says it ends on the end of Oct, http://www.britannia.co.uk/c_savings...risa/prod.html. I actually was going to go in Saturday, but needed to get some fresh air so left the office and went into my local branch in Dorset.

There was a massive queue and the advisor was explaining to us all that they've just found out the offer will be pulled tomorrow, apparently the pot of money Brtiannia has put aside for this deal has run out, due to the popularity of the deal.

Basically, if you want to take advantage of this offer, you've got till the end of tomorrow.

I'm just so pleased my office was stuffy today....

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macymoo

So glad I did ours last week, thanks

Old_Slaphead

Prefer the Derbyshire 2 yr at 6.30%.

Assuming you're transferring in/out of Britannia at end of year, loss of interest (on at least 2 weeks transfer time) equates to about 0.25% and Britannia will probably keep the money in a poorer paying account for up to 30 days at end of the fixed term).

Good deal though for those already with a Britannia ISA or committing new money.

Froglet

I saw this offer advertised last night on Teletext,on Channel 4.Had a quick look this morning and saved the page to come back this afternoon and open the account.But it already says the offer has been withdrawn!!

Any other good ones around?

Old_Slaphead

Yorkshire - 1 yr fix 6.50%

Derbys - 2 yr fix 6.30%

Miss_Sparkly_Star

Froglet,

Can you go into a branch..the lady in the Dorset branch was adament it ends tomorrow.

Maybe they've just pulled it off the website to cover themselves..

I have alist of branches here if you want to tell me where you live, although they should have a branch locator on their webiste...

bristolleedsfan

Old_Slaphead wrote: »

Prefer the Derbyshire 2 yr at 6.30%.

Assuming you're transferring in/out of Britannia at end of year, loss of interest (on at least 2 weeks transfer time) equates to about 0.25% and money.

on my transfer out authority i instructed nationwide BS to transact the transfer on "a monday", was only instruction nationwide followed. :rotfl:

absolutely no need to lose 2 weeks interest on a transfer out.

Old_Slaphead

bristolleedsfan wrote: »

on my transfer out authority i instructed nationwide BS to transact the transfer on "a monday", was only instruction nationwide followed. :rotfl:

absolutely no need to lose 2 weeks interest on a transfer out.

Lose 1 week transferring in and 1 week transferring out (unless Britannia offer something world-beating to maturing account holders which I think will be very unlikely as they will have semi-captive funds).

Makes very little difference on what day you transfer out as it nearly always takes a working week (ie 5 days) to get cleared funds to a few ISA.

bristolleedsfan

[quote=Old Slaphead;6456558
Makes very little difference on what day you transfer out as it nearly always takes a working week (ie 5 days) to get cleared funds to a few ISA.[/quote]

makes every difference what day a transfer out is transacted because apart from a few banks/building societies that pay interest from day of receipt or day after, rest pay interest on cheque deposits from the third working day following receipt, so if they receive on a tuesday they start paying interest on the friday, if they receive on a wednesday they start paying interest the following monday.

Old_Slaphead

bristolleedsfan wrote: »

makes every difference what day a transfer out is transacted because apart from a few banks/building societies that pay interest from day of receipt or day after, rest pay interest on cheque deposits from the third working day following receipt, so if they receive on a tuesday they start paying interest on the friday, if they receive on a wednesday they start paying interest the following monday.

But you can't legislate for the vagaries of the postal system, whether the sender is using a 1st class stamp, whether a Monday transaction actually gets posted out that day. You may find it difficult to believe but I've passbook transactions done on Monday where I've physically not received the cheque for 3 or 4 days....amazing, uh ?

And anyway, unless you're shifting shedloads of money, 2 days interest is hardly likely to matter a hill o' beans.