Top Cash ISAs Discussion Area

Baldur

AbbieCadabra wrote: »

i've already transferred the money out of our savings in readyness for transferring to NR next week, do you think there's still time to get a brand new 2009/10 isa opened?

Shouldn't be a problem, especially if you do so in a branch - Santander/A&L's Flexible ISA @3.5% with a 12 month guarantee of BoE base rate +3% is a possibility, if you want easy access and would permit you to add your increased 2010/11 allowance on or after April 6th.

System

lennyp wrote: »

Warning to others on Alliance & Leicester - I opened a new Direct Cash ISA online to make use of the good interest rate. Although I received an immediate confirmation that the account had been opened, the security details took a week to arrive. When I tried to log in, the webpage informed me that the account was locked out - even though I hadn't attempted a log in before. Contacted the A&L internet helpline (an 0844 number!) and was informed that a new PIN would be dispatched to arrive in 2-3 working days. It arrived after a week. First attempt - same message. Repeated process with the internet helpline (who seem to be unable to do anything except send out PIN numbers) and same thing happened. On third time around the buoy, internet help couldn't/wouldn't help sort out the problem (new PIN?). Given the A&L processes won't allow a telephone transfer of funds from a non-A&L account, I decided that I've no confidence in the "easy access" of A&L accounts and have cancelled the account.

All in all, an addled, incompetent operation which seems to be anti-customer. Compensation for calls was made, but not for wasted time. Pathetic, shameful and reprehensible. Be warned!

I've had similar problems with Abbey who are part of the this group, can't access online and have to wait until the send paperwork out. This is for a business account but still it has really put me off putting my money into A&L and theirs is one of the best rates around at the moment..

System

Not sure if this is quite the best way to approach this, but am considering opening the Santander account at 3.5%.

I know their service is not the best, however I had the same issues when dealing with Halifax last year when I moved to them. It was a really painful process but once set up you can pretty much forget about it for the year.

Would I be wrong in thinking many people have transfered to A&L or Sandander at 3.5% despite their customer service repution.

Edited to say, just realised they don't accept transfers in - back to the drawing board for the transfer stage! Would have liked all savings in one place..

Baldur

Summer01 wrote: »

Would I be wrong in thinking many people have transfered to A&L or Sandander at 3.5% despite their customer service repution.

I assume that you don't mean 'transfer' in the sense of an ISA transfer, as the account doesn't accept those?

If the account is still available on 6th April (and if nothing better is offered by that date), my 2010/11 allowance will certainly be subscribed to one of these, despite past issues with them.

System

Hi Baldur, you're completely right I did mean this and then realised they don't accept transfers!

I have an existing ISA which I'd like to transfer - there seems to be many places that offer a 2.75% for these. Currently considering First Direct or A&L.

As for a new ISA for this tax year Santander/A&L seem to have the best offers..

I've decided I really need to start the ball rolling on these now. For a new ISA how long can you really leave it before you open an account as I'd like my money to start earning interest on 6th April..

Also started to look at the M&S on at 2.65%

Baldur

Summer01 wrote: »

Hi Baldur, you're completely right I did mean this and then realised they don't accept transfers!

I have an existing ISA which I'd like to transfer - there seems to be many places that offer a 2.75% for these. Currently considering Nationwide or First Direct..

As for a new ISA for this tax year Santander/A&L seem to have the best offers..

I've decided I really need to start the ball rolling on these now. For a new ISA how long can you really leave it before you open an account as I'd like my money to start earning interest on 6th April..

Although you may be able to open an empty account with the acronym 'ISA' in its title, you can't actually open a new ISA before 6th April.

In order to open an ISA, as far as HMRC is concerned, a provider has to be in possession of two items, 1) a valid application AND 2) a valid subscription - which is impossible before 6th April.

With the A&L/Santander Flexible Cash ISA, according to the Ts & Cs of at least one of them (probably both but I only looked at one) even if you paid in full in cash on 6th April, your funds would not be credited for interest purposes until the following day.

System

I've just started to fill out the Santander application form for this years ISA and got stuck on page 2 as I have to open with a minimum of £1. I can't do this as my money for this year is already in another ISA so this means I have to wait until 6th April to fill the form in or is it wise to open an empty account with the acronym ISA?

System

Maybe I'm reading this wrong, can I open it and say an amount which I will transfer at a later date into the account (i.e. on 6th April)?

Baldur

Summer01 wrote: »

I've just started to fill out the Santander application form for this years ISA and got stuck on page 2 as I have to open with a minimum of £1. I can't do this as my money for this year is already in another ISA so this means I have to wait until 6th April to fill the form in or is it wise to open an empty account with the acronym ISA?

It's pointless completing the form now, for the reasons I stated above - it cannot become an ISA until 6th April and your subscription has been received anyway.

System

Thanks Buldur, I am getting myself in a right muddle aren't I.

Is it worth me completing the other transfer request now (i.e. transfering from Halifax to Santander)

I'm thinking maybe I'll just keep everything in the same place..