We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
YBS Loyalty ISA query
Aidanmc
Posts: 903 Forumite
I would like to open the YBS Loyalty ISA as i have been a customer for 1 year. My current ISA subscriptions are in Skipton Tracker ISA (0.9 below Base rate). This only holds this years subscriptions + whatever interest gained. I haven't used all this years allowance yet.
If i transfer the Skipton ISA to YBS i would have to transfer it all, and then it would be closed. I would like to keep it also though?
Can i open YBS without transferring or depositing now and wait until 6 April to deposit?
1
Comments
-
When I opened a Christmas RS with YBS (and other non-ISA accounts), the confirmation email said ‘You have 42 days to make your first deposit otherwise your account will close.’. Idk if the same applies to ISAs or notIf you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.1 -
ForumUser7 said:When I opened a Christmas RS with YBS (and other non-ISA accounts), the confirmation email said ‘You have 42 days to make your first deposit otherwise your account will close.’. Idk if the same applies to ISAs or not
Yes - its also 42 days for their loyalty isa.
So in theory the OP could wait until the new tax year to deposit new funds or do a partial isa transfer. Pre 6 April any current year ISA funds would need to be moved in full.3
Categories
- All Categories
- 345.7K Banking & Borrowing
- 251K Reduce Debt & Boost Income
- 450.9K Spending & Discounts
- 237.7K Work, Benefits & Business
- 612.4K Mortgages, Homes & Bills
- 174.3K Life & Family
- 250.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards