Top Cash ISAs Discussion Area

vigman

Out of interest, if you did get the 5% fixed Five Year ISA with Newcastle, was it allowing future additions of the annual allowance, or was it locked to a one-off payment...the T&Cs have gone now!!?

TIA

Vigman


PS Why does an internal transfer have to use the external transfer form?

JimmyTheWig

I had an email from them at 13:16 today...

Thank you for your recent enquiry.

The Newcastle Five Year Bond and ISA (1) have now been withdrawn. The online applications are due to be taken off our website imminently. Although the accounts are still on the website, we are no longer accepting new applications for these investments.

vigman

If anyone has an existing Newcastle ISA it is worth sending off a transfer request form TONIGHT to the 5% 5 yr fixed!

Vigman

glocal

Probably a silly question, but it says everywhere we are only allowed to subscribe to one cash ISA every year. Does this mean we cannot transfer the same ISA from bank to bank several times in a year? Or does it mean that you cannot create more than one new ISA in a year?

I am asking because I recentrly transferred to M&S and within weeks they reduced their rate, so I am looking to transfer again to another provider.

Thanks!

vigman

vigman wrote: »

Out of interest, if you did get the 5% fixed Five Year ISA with Newcastle, was it allowing future additions of the annual allowance, or was it locked to a one-off payment...the T&Cs have gone now!!?
QUOTE]

Anyone??????????

TIA

Vigman

freddysmith

vigman wrote: »

vigman wrote: »

Out of interest, if you did get the 5% fixed Five Year ISA with Newcastle, was it allowing future additions of the annual allowance, or was it locked to a one-off payment...the T&Cs have gone now!!?
QUOTE]

Anyone??????????

TIA

Vigman

You could not add future tax years to this ISA, but transfers in from previous years could be added while it was still open.
I added £3600 of new money and transfered in previous cash ISA's which were only earning upto 3.5%.

bigup7

bigup7 wrote: »

well ive just set up a cash isa with IF, seemed like a good choice

did it over the phone and asked them to take cash out of my savings account at Lloyds TSB.

seems very professional over the phone and should receive some paper work in the post to sign and send back.

received documentation yesterday for my ISA, going to send back some signed forms and heres hoping for a smooth transaction, going from Lloyds TSB savings account to IF ISA account.

leaphaze

glocal wrote: »

Probably a silly question, but it says everywhere we are only allowed to subscribe to one cash ISA every year. Does this mean we cannot transfer the same ISA from bank to bank several times in a year? Or does it mean that you cannot create more than one new ISA in a year?

I am asking because I recentrly transferred to M&S and within weeks they reduced their rate, so I am looking to transfer again to another provider.

Thanks!

You cannot have more than one ISA in the same year at different providers, all open at the same time. When an ISA is transfered the a/c at the old provider is closed and a new one opened at the new provider; so you still have only one provider.

So, yes you can transfer again to a new provider.

HTH

blueberrypie

leaphaze wrote: »

You cannot have more than one ISA in the same year at different providers, all open at the same time. When an ISA is transfered the a/c at the old provider is closed and a new one opened at the new provider; so you still have only one provider.

I think that the way you've put this is confusing. You can *have* as many cash ISAs with as many different providers as you like, but you can only *contribute new money* to one in each tax year.

Pastmaster

I'm needing to start a cash savings ISA to cash in next July (endowment shortfall expected). I've looked at Martin's advice but some of it seems out of date (max. savings etc.). I can't therefore rely on recommendations for best home for my money. Any advice wulod be much appreciated. I'll be saving £1000 per month.