Longest duration Fixed Rate-cash ISA allowing monthly deposits throughout term.

drphila

steveksullivan said:

...... although, following on from my last post,  Shawbrook have confirmed on several occasions that they will accept transfers in for the period of the fixed rate - I opened the account in May and was SPECIFICALLY asking about transferring in a Virgin ISA due to mature in October (not relevant now as new rates beat that account ....)

N.B. MSE still say in their Top Rates tables that Shawbrook only accept transfers in at application .....

From the 1yr isa summary box:

Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused.

bristolleedsfan

steveksullivan said:

...... although, following on from my last post,  Shawbrook have confirmed on several occasions that they will accept transfers in for the period of the fixed rate - I opened the account in May and was SPECIFICALLY asking about transferring in a Virgin ISA due to mature in October (not relevant now as new rates beat that account ....)

N.B. MSE still say in their Top Rates tables that Shawbrook only accept transfers in at application .....

ADDITIONAL INFORMATION � Interest is paid Gross (tax free). � Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused. 

steveksullivan

I know what their Ts and Cs say ..... in previous posts I have said that I have pointed this out to the CS reps. I have said that what is in the Ts and Cs should reflect what actually happens. They have told me on more than one occasion that they KNOW the Ts and Cs are 'wrong' and they would pass this on to get them changed!!!

Guess we really need some evidence from somebody who has done a 'late' transfer with them. As I said, mine won't happen now (unless rates plummet in the next two months which I somehow doubt!!)

Doctor_Who

Doctor_Who said:

You live and learn! I'd always thought fixed rate ISAs only accepted deposits during the funding window, but it seems that at least some providers allow additional deposits during the whole term. Shawbrook doesn't make this at all obvious in the 'summary information' on the website, but it is buried in the T&Cs:

You can make additional deposits into the account up to the maximum annual allowable subscription amount for the applicable tax year. 

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

To update my post above:

It appears that the ability to make additional deposits only applies to the Shawbrook 'Cash ISA Matured Funds account', which is what the fixed rate account becomes at maturity if you don't provide instructions.

If you do not let us know what you wish to do by the maturity date, your account will revert to a Cash ISA Matured Funds account and the variable interest rate will be confirmed to you in writing.

The Cash ISA Matured Funds account is subject to the following conditions:

• Withdrawals can be made without giving prior notice.
• You may transfer out the whole or part of your balance (if your account matures within the same tax year as your deposits were made you will have to transfer out the whole balance for that specific tax year).
• You can make additional deposits into the account up to the maximum annual allowable subscription amount for the applicable tax year.
• Transfers in from other ISA providers are not permitted.

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

steveksullivan

Doctor_Who said:

Doctor_Who said:

You live and learn! I'd always thought fixed rate ISAs only accepted deposits during the funding window, but it seems that at least some providers allow additional deposits during the whole term. Shawbrook doesn't make this at all obvious in the 'summary information' on the website, but it is buried in the T&Cs:

You can make additional deposits into the account up to the maximum annual allowable subscription amount for the applicable tax year. 

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

To update my post above:

It appears that the ability to make additional deposits only applies to the Shawbrook 'Cash ISA Matured Funds account', which is what the fixed rate account becomes at maturity if you don't provide instructions.

INCORRECT:

The ISA I subscribed to and have already made several further contributions to is an ordinary 2 year fix taken out this financial year NOT a matured ISA....

bristolleedsfan

steveksullivan said:

I know what their Ts and Cs say ..... in previous posts I have said that I have pointed this out to the CS reps. I have said that what is in the Ts and Cs should reflect what actually happens. They have told me on more than one occasion that they KNOW the Ts and Cs are 'wrong' and they would pass this on to get them changed!!!

Guess we really need some evidence from somebody who has done a 'late' transfer with them. As I said, mine won't happen now (unless rates plummet in the next two months which I somehow doubt!!)

"may be refused" or may not be refused they are basically not guaranteeing that they will irrespective of whether they have in the past or might due on occasion(s) as someone suggested earlier in the thread they have given themselves a get out of doing so in some circumstances.

bristolleedsfan

Doctor_Who said:

Doctor_Who said:

You live and learn! I'd always thought fixed rate ISAs only accepted deposits during the funding window, but it seems that at least some providers allow additional deposits during the whole term. Shawbrook doesn't make this at all obvious in the 'summary information' on the website, but it is buried in the T&Cs:

You can make additional deposits into the account up to the maximum annual allowable subscription amount for the applicable tax year. 

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

To update my post above:

It appears that the ability to make additional deposits only applies to the Shawbrook 'Cash ISA Matured Funds account', which is what the fixed rate account becomes at maturity if you don't provide instructions.

If you do not let us know what you wish to do by the maturity date, your account will revert to a Cash ISA Matured Funds account and the variable interest rate will be confirmed to you in writing.

The Cash ISA Matured Funds account is subject to the following conditions:

• Withdrawals can be made without giving prior notice.
• You may transfer out the whole or part of your balance (if your account matures within the same tax year as your deposits were made you will have to transfer out the whole balance for that specific tax year).
• You can make additional deposits into the account up to the maximum annual allowable subscription amount for the applicable tax year.
• Transfers in from other ISA providers are not permitted.

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

Not related to Matured funds account, as someone mentioned Kent Reliance also allow addition funds to be added during ISA fixed term period.

� Please read this leaflet in conjunction with Shawbrook’s terms and conditions for Personal Savings Accounts. If there is anything that you do not understand, please contact us for further information or seek independent advice.
 � We’ll send you a statement on the closure of your account.

 � Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term.

 � Please note that if we withdraw this product you will not be notified in writing. � If you change your mind and wish to cancel your application to open an account, y

Doctor_Who

INCORRECT:

The ISA I subscribed to and have already made several further contributions to is an ordinary 2 year fix taken out this financial year NOT a matured ISA....

Well, if Shawbrook are not following their own T&Cs (as you mention above) then how is the average saver supposed to know what they can and can't do? I'm not questioning what you say, but in their own T&Cs for the 1 year fixed ISA the only mention of making additional deposits is under the 'Cash ISA Matured Funds account' section. If additional deposits can be made to a 1 or 2 year fixed ISA then I'm sure many people will find this useful, but without reading this forum how would they know that this is possible? The 'Summary Box' and T&Cs would seem to lack some important details about the account.

bristolleedsfan

Doctor_Who said:

INCORRECT:

The ISA I subscribed to and have already made several further contributions to is an ordinary 2 year fix taken out this financial year NOT a matured ISA....

 I'm not questioning what you say, but in their own T&Cs for the 1 year fixed ISA the only mention of making additional deposits is under the 'Cash ISA Matured Funds account' section. If additional deposits can be made to a 1 or 2 year fixed ISA then I'm sure many people will find this useful, but without reading this forum how would they know that this is possible? The 'Summary Box' and T&Cs would seem to lack some important details about the account.

Look at 3rd point under heading Terms and Conditions ( same point I highlighted post above your most recent post)

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

Doctor_Who

bristolleedsfan said:

Doctor_Who said:

INCORRECT:

The ISA I subscribed to and have already made several further contributions to is an ordinary 2 year fix taken out this financial year NOT a matured ISA....

 I'm not questioning what you say, but in their own T&Cs for the 1 year fixed ISA the only mention of making additional deposits is under the 'Cash ISA Matured Funds account' section. If additional deposits can be made to a 1 or 2 year fixed ISA then I'm sure many people will find this useful, but without reading this forum how would they know that this is possible? The 'Summary Box' and T&Cs would seem to lack some important details about the account.

Look at 3rd point under heading Terms and Conditions ( same point I highlighted post above your most recent post)

https://www.shawbrook.co.uk/media/5777/1-year-fixed-rate-cash-isa-bond-78.pdf

Thanks I missed that. So does 'withdrawn' refer to the issue number?