Santander Fixed 18 month ISA

Speedbird676

I opened the 12-month version and it opened instantly.

I did get an application reference number but by the time I'd logged into the app the new account was showing and a few minutes later I got the account open email.

wiseonesomeofthetime

surreysaver said:

You can open it now, and even keep your eyes open to see if anything better becomes available and open that as well - as long you only fund one on or after April 6th
I've just opened a Yorkshire Building Society ISA which will be paying 4.25% from 5th April which allows withdrawals, but its only available if you've had a YBS account for at least a year 

Is that the 

Loyalty Six Access Saver e-ISA Issue 2 ?

cricidmuslibale

wiseonesomeofthetime said:

surreysaver said:

You can open it now, and even keep your eyes open to see if anything better becomes available and open that as well - as long you only fund one on or after April 6th
I've just opened a Yorkshire Building Society ISA which will be paying 4.25% from 5th April which allows withdrawals, but its only available if you've had a YBS account for at least a year 

Is that the 

Loyalty Six Access Saver e-ISA Issue 2 ?

Yes that’s the one. I’m also eligible for it and will apply for it as soon it’s feasible for me to do so, but I need to wait until April 6 to fund it, unfortunately.

thor

I'm planning on opening the 2 year fixed Santander ISA. I have already opened a cash ISA elsewhere this year and deposited money into it but with the Santander ISA I am only wanting to transfer an ISA from elsewhere so I gather there should not be a problem as I will not be depositing any new money into the ISA this financial year.

Nurse2047

I managed to get the Santander 18 mth and transferred from another Santander saving account , opened instantly 

refluxer

thor said:

I'm planning on opening the 2 year fixed Santander ISA. I have already opened a cash ISA elsewhere this year and deposited money into it but with the Santander ISA I am only wanting to transfer an ISA from elsewhere so I gather there should not be a problem as I will not be depositing any new money into the ISA this financial year.

Yes - that will be fine 

35har1old

refluxer said:

Richchad said:

I just worry that opening a new ISA account before 6th April will make it automatically a 2023 ISA which allowance I have already used.

Not at all - I don't think there is any such thing as a '2023 ISA'. As is often said on here, you can open as many ISAs as you like within the same tax year but you can only pay new subscriptions (from the current tax year) into one cash ISA at any one time - that is the important bit.

Opening a cash ISA within the 2022-23 tax year and funding it with subscriptions from the 2023-24 tax year is a perfectly acceptable thing to do. The only question would be whether the application process and/or the T&Cs of the ISA in question allow it, which could just boil down to whether you're forced to make a deposit during the application process and if not, whether or not the funding window is big enough to allow you to wait and make a deposit after 6th April.

You can apply if:

• You are at least 16 years of age and a UK resident
• And one of the following statements is true:
• You haven't paid into a cash ISA in the current Tax year  
• You want to transfer funds from another ISA provider, including any current years subscriptions into this cash ISA

Before you get to the page asking about funding you have to answer that one of these statements are true

refluxer

35har1old said:

refluxer said:

Richchad said:

I just worry that opening a new ISA account before 6th April will make it automatically a 2023 ISA which allowance I have already used.

Not at all - I don't think there is any such thing as a '2023 ISA'. As is often said on here, you can open as many ISAs as you like within the same tax year but you can only pay new subscriptions (from the current tax year) into one cash ISA at any one time - that is the important bit.

Opening a cash ISA within the 2022-23 tax year and funding it with subscriptions from the 2023-24 tax year is a perfectly acceptable thing to do. The only question would be whether the application process and/or the T&Cs of the ISA in question allow it, which could just boil down to whether you're forced to make a deposit during the application process and if not, whether or not the funding window is big enough to allow you to wait and make a deposit after 6th April.

You can apply if:

• You are at least 16 years of age and a UK resident
• And one of the following statements is true:
• You haven't paid into a cash ISA in the current Tax year  
• You want to transfer funds from another ISA provider, including any current years subscriptions into this cash ISA

Before you get to the page asking about funding you have to answer that one of these statements are true

Yes, you're right - neither of those two statements include the scenario whereby you open it in this tax year and fund it solely with new subscriptions in the next tax year. I just know that it's possible to do this in theory, but don't know whether it's possible in this particular ISA.

Santander do state that it's necessary to open the ISA before you submit a transfer request, at which point you'll have a sort code and account number so, at that stage, I can't see why you wouldn't be able to pay into it (after 6th April) but I've got no personal experience of doing this so I don't know whether Santander would reject the payment or not - I just think it would be odd if they did, as it's a legitimate thing to do (doesn't break any ISA rules) and there isn't anything in their T&Cs which says you can't.

This is the relevant bit regarding cash deposits in the T&Cs...

"The ISA allowance for the 2022/23 tax year is £20,000 and deposits can be made up to and including 5 April 2023. The ISA allowance for the 2023/24 tax year is £20,000 and deposits can be made up to and including 30 April 2023. No subsequent additional deposits allowed."

Richchad

When you get to the submit your application page it states this...

I apply to subscribe for a cash ISA for tax year 2022/2023 and each successive year until further notice. (This doesn't commit you to paying in every year but ensures that if you do, we won't need to ask you to complete another declaration).

Which means you are applying for this tax year not 2023/2024 which isn't what I want to do..

Band7

Mine is now open. There is no request to pay in this year. This is what they say:

If, against expecations, they won’t accept a deposit after April 5 if you haven’t made one in the current tax year, you can still choose a different one for your 2023-24 allowance.

They also don’t mention any deadline by which you must have made a deposit.