Beehive Cash LISA

Mosler

eskbanker said:

Mosler said:

If your 40 or over though you can't open a LISA with AJ Bell.

Ah right, if you specifically meant transfers once over 40 then that's an entirely different matter, as discussed at the start of the thread.

Sorry I forgot to say that in my question.  I can't transfer to Moneybox either as I have had a LISA with them before.  

Tugboat

Beehive have just upped the interest rate to a whopping 0.8%, best available rate for a cash Lisa and still offering £50 Cashback if transferring 10k+.

My transfer was pretty straightforward, app is okay and cashback received the day after transfer was completed. 

binaryuniverse

Does anyone know if you can transfer an existing LISA, after account opening? The wording on the app seems to imply it's only when opening the account. I would like to transfer my existing Skipton one in, eventually, but want to get the Beehive one up and running, and make sure all is good before I do that.

binaryuniverse

binaryuniverse said:

Does anyone know if you can transfer an existing LISA, after account opening? The wording on the app seems to imply it's only when opening the account. I would like to transfer my existing Skipton one in, eventually, but want to get the Beehive one up and running, and make sure all is good before I do that.

Answering my own question, as it might be useful to someone. After account opening, I need to print off a form, and send that to Skipton to get the transfer process going. You can not pay in to the Beehive account, until the transfer is complete. 
With that being the case, I can pay this year's allowance in to Skipton and then complete the transfer, which will complete in the next tax year (naturally it won't use up the 22/23 £4000 allowance).

someone

Keen an eye out that you get the £1k HMRC bonus and it doesn't get lost between the accounts

Albermarle

someone said:

Keen an eye out that you get the £1k HMRC bonus and it doesn't get lost between the accounts

Yes I would not start the transfer until the £1K actually arrived in the Skipton Lisa.

Mosler

To clarify, does the Beehive cash LISA allow applications if you are over 40, when transferring from another LISA provider?

Nikkster

So. I'd not heard of Beehive before this thread - thank you! Thought I could repay by adding my experience

After a bit of hard work getting my ID verified (mostly user fault), it's taken a grand couple of working days to transfer my Moneybox LISA across. Impressed how quickly it's gone through wrt both Beehive and Moneybox. Now to decide whether I feel the need to open one last ISA in the month between the new tax year and my 40th...

vermania

Does anyone have any experience of transferring from a Beehive/Nottingham LISA to AJ Bell? I am making a partial transfer and just wondered how long it might take. Thanks in advance.

vermania

vermania said:

Does anyone have any experience of transferring from a Beehive/Nottingham LISA to AJ Bell? I am making a partial transfer and just wondered how long it might take. Thanks in advance.

Just to confirm, Beehive did not accept a partial transfer - they were going to close the account and transfer the whole amount! It was not clear from the emails, I had to phone up to get an explanation. A rethink required on this one so I put the transfer off for now. Best to check rules and by phone before you do anything.