Fixed ISA recommendations

refluxer

pookey said:

I think I'll stick with the Virgin one. Do you have any idea how long they give to provide I.D or whatever in case it's not as easy as I'm hoping? I'm on holiday at the moment so need to make sure i have enough time to get to a branch 😬

Sorry - I don't have any Virgin Money accounts so I don't know. If you're thinking about setting up the current account first in order to get access to the higher, exclusive rate ISA then that'll presumably take longer than by-passing the need for a current account and going with the lower, open-to-all option. That said, if you did pass their online ID checks then it might just be an extra step in the online application process and not delay things too much. I wouldn't open a current account with any bank just for a 0.1% increase on an exclusive savings account though, personally.

pookey

refluxer said:

pookey said:

I think I'll stick with the Virgin one. Do you have any idea how long they give to provide I.D or whatever in case it's not as easy as I'm hoping? I'm on holiday at the moment so need to make sure i have enough time to get to a branch 😬

Sorry - I don't have any Virgin Money accounts so I don't know. If you're thinking about setting up the current account first in order to get access to the higher, exclusive rate ISA then that'll presumably take longer than by-passing the need for a current account and going with the lower, open-to-all option. That said, if you did pass their online ID checks then it might just be an extra step in the online application process and not delay things too much. I wouldn't open a current account with any bank just for a 0.1% increase on an exclusive savings account though, personally.

Yes that's a very good point as its only £20 difference, I'll probably do the 5.75 Virgin one its also got the 60 day penalty

pookey

refluxer said:

pookey said:

I think I'll stick with the Virgin one. Do you have any idea how long they give to provide I.D or whatever in case it's not as easy as I'm hoping? I'm on holiday at the moment so need to make sure i have enough time to get to a branch 😬

Sorry - I don't have any Virgin Money accounts so I don't know. If you're thinking about setting up the current account first in order to get access to the higher, exclusive rate ISA then that'll presumably take longer than by-passing the need for a current account and going with the lower, open-to-all option. That said, if you did pass their online ID checks then it might just be an extra step in the online application process and not delay things too much. I wouldn't open a current account with any bank just for a 0.1% increase on an exclusive savings account though, personally.

When i transfer my isa, what happens to the interest please? 
Does it get transferred with it? 

refluxer

pookey said:

refluxer said:

pookey said:

I think I'll stick with the Virgin one. Do you have any idea how long they give to provide I.D or whatever in case it's not as easy as I'm hoping? I'm on holiday at the moment so need to make sure i have enough time to get to a branch 😬

Sorry - I don't have any Virgin Money accounts so I don't know. If you're thinking about setting up the current account first in order to get access to the higher, exclusive rate ISA then that'll presumably take longer than by-passing the need for a current account and going with the lower, open-to-all option. That said, if you did pass their online ID checks then it might just be an extra step in the online application process and not delay things too much. I wouldn't open a current account with any bank just for a 0.1% increase on an exclusive savings account though, personally.

When i transfer my isa, what happens to the interest please? 
Does it get transferred with it? 

If it's the same easy access ISA that you asked about in the other thread you just started then, as I said in that thread, the interest would get added to the balance just before the transfer.

If you definitely want to close the originating ISA, then the key thing is to do a 'full' transfer (which should close the existing ISA you're transferring from) - don't request the exact amount that is in the account at the moment, as that would probably result in the originating ISA being left open and any interest due (but not yet added to the balance) getting left behind.

pookey

refluxer said:

pookey said:

refluxer said:

pookey said:

I think I'll stick with the Virgin one. Do you have any idea how long they give to provide I.D or whatever in case it's not as easy as I'm hoping? I'm on holiday at the moment so need to make sure i have enough time to get to a branch 😬

Sorry - I don't have any Virgin Money accounts so I don't know. If you're thinking about setting up the current account first in order to get access to the higher, exclusive rate ISA then that'll presumably take longer than by-passing the need for a current account and going with the lower, open-to-all option. That said, if you did pass their online ID checks then it might just be an extra step in the online application process and not delay things too much. I wouldn't open a current account with any bank just for a 0.1% increase on an exclusive savings account though, personally.

When i transfer my isa, what happens to the interest please? 
Does it get transferred with it? 

If it's the same easy access ISA that you asked about in the other thread you just started then, as I said in that thread, the interest would get added to the balance just before the transfer.

If you definitely want to close the originating ISA, then the key thing is to do a 'full' transfer (which should close the existing ISA you're transferring from) - don't request the exact amount that is in the account at the moment, as that would probably result in the originating ISA being left open and any interest due (but not yet added to the balance) getting left behind.

Thank you,

Can i do a test first of £1 to make sure it's ok and then do the full transfer? Or is it best to just do the full transfer please? 

refluxer

pookey said:

Thank you,

Can i do a test first of £1 to make sure it's ok and then do the full transfer? Or is it best to just do the full transfer please? 

To do an ISA transfer, you need to open the new ISA and submit a transfer request to the new ISA provider using whatever transfer process they provide. Don't attempt to move the money yourself, or it will lose it's ISA status and count towards this tax year's ISA allowance.

As you have to supply the new provider all the details of your old ISA for the transfer, there's no need to mess about with test amounts. If you accidentally provide the wrong account details, then presumably the transfer would fail and your new ISA provider would let you know. 

If you don't want to keep the old (easy access) ISA open, then you simply request that a transfer is done of the full balance. Once this is carried out, the old ISA will be closed. While all this is taking place (and provided it all goes smoothly), there should be no need to contact the old ISA provider at all.

pookey

refluxer said:

pookey said:

Thank you,

Can i do a test first of £1 to make sure it's ok and then do the full transfer? Or is it best to just do the full transfer please? 

To do an ISA transfer, you need to open the new ISA and submit a transfer request to the new ISA provider using whatever transfer process they provide. Don't attempt to move the money yourself, or it will lose it's ISA status and count towards this tax year's ISA allowance.

As you have to supply the new provider all the details of your old ISA for the transfer, there's no need to mess about with test amounts. If you accidentally provide the wrong account details, then presumably the transfer would fail and your new ISA provider would let you know. 

If you don't want to keep the old (easy access) ISA open, then you simply request that a transfer is done of the full balance. Once this is carried out, the old ISA will be closed. While all this is taking place (and provided it all goes smoothly), there should be no need to contact the old ISA provider at all.

Thank you very much, I've managed to get it done