Minimum opening deposit of £1....... oversubscribing?

steveksullivan

**** PLEASE IGNORE ***** wanted to delete but cant see how to.........

I have a cash ISA fix maturing on 14th April. I funded it originally with my years subscription of £20,000 then a cash ISA transfer of circa £19,000

I now want to open a cash ISA to transfer all this into - Virgin allow deposits for 30 days.

BUT they require an 'opening deposit' of £1 - so technically if I do this now I would fall foul of the ISA subscription rules ....by £1

Is it likely I would be penalised in some way for doing this and/or do I have to wait until April 6th to open the new ISA and possibly/probably miss out on the rate currently available?

Thanks all.......

steveksullivan

Sorry posted too quickly - just spoke to them and my assumption about the £1 being needed during the opening process was wrong - I DO have 30 days .......