HL (Coventry) Limited Access Cash ISA

j_netprofit

Just want idiot check this really. It states that you can withdraw upto 4 times without penalty. Surely I'm correct to assume that this can also mean withdrawing all of the cash inside it.

Sub-question... does HL not offer its own Cash ISAs, they all seem to be through someone else. CBS, Zopa, Santander?

j_netprofit

Forgot to attached this screenshot...

eskbanker

That product is available directly from Coventry, rather than via HL, at 5.05%:

https://www.coventrybuildingsociety.co.uk/member/product/savings/cash_isa/four-access-isa-online.html

And HL doesn't offer its own cash ISAs, as they're essentially a S&S player, but with a third-party cash savings add-on.

j_netprofit

Thanks for the info, what about the first part of my question? 

Query is in relation to an easy access isa for my daughter, she already has a HL S&S JISA but isn’t maximising her allowance there. 

eskbanker

jay_ftw said:

Thanks for the info, what about the first part of my question? 

Query is in relation to an easy access isa for my daughter, she already has a HL S&S JISA but isn’t maximising her allowance there. 

She'd need to be 16 or over to open this account but yes, I'd understand the terms to mean that she'd receive the published headline interest rate (pro rata for actual duration) if closing the account after no more than three withdrawals prior to that.

Janie2008

jay_ftw said:

Just want idiot check this really. It states that you can withdraw upto 4 times without penalty. Surely I'm correct to assume that this can also mean withdrawing all of the cash inside it.

Sub-question... does HL not offer its own Cash ISAs, they all seem to be through someone else. CBS, Zopa, Santander?

Yes you could withdraw all the cash minus £1 to keep it open. Closing the account would count as a withdrawal. 

Malchester

You can withdraw the whole amount if you want to. But do look at Coventry Building Society direct as they have the same account with higher interest rate. Coventry have upped their game lately and I am now impressed with them. Have opened this account with them directly for an ISA transfer and to take next financial year deposit. Interest can be monthly or annually and can be withdrawn or left in the account

j_netprofit

jay_ftw said:

Query is in relation to an easy access isa for my daughter, she already has a HL S&S JISA but isn’t maximising her allowance there. 

Thanks guys, however I was unaware you needed to be 16 to open a cash isa.

j_netprofit

Janie2008 said:

jay_ftw said:

Just want idiot check this really. It states that you can withdraw upto 4 times without penalty. Surely I'm correct to assume that this can also mean withdrawing all of the cash inside it.

Sub-question... does HL not offer its own Cash ISAs, they all seem to be through someone else. CBS, Zopa, Santander?

Yes you could withdraw all the cash minus £1 to keep it open. Closing the account would count as a withdrawal. 

Good to know that's how it works, didn't realise a zero balance would result in an account closure.

35har1old

jay_ftw said:

jay_ftw said:

Query is in relation to an easy access isa for my daughter, she already has a HL S&S JISA but isn’t maximising her allowance there. 

Thanks guys, however I was unaware you needed to be 16 to open a cash isa.

From next year the age will be 18

xylophone

She can have a cash JISA with Coventry BS.