Virgin 1 Year Fixed Rate Cash ISA Exclusive issue 11

clowning

Glad I got my Virgin ISA opened ready for funding in the tax year. I’m moving the money from Santander easy access. I have received my tax code for the coming tax year - adjusted due to the interest I’m earning on my savings

grimble37

Can anyone please jog my memory, regarding the interest payment date, it's at the end of the year isn't it? There was no option for monthly. 

badger09

grimble37 said:

Can anyone please jog my memory, regarding the interest payment date, it's at the end of the year isn't it? There was no option for monthly. 

31 March 2025 

pecunianonolet

Might help and seen this thread too late.

https://forums.moneysavingexpert.com/discussion/comment/80702165/#Comment_80702165

RG2015

I have a Virgin Money Easy Access Exclusive Flexible cash ISA v2 at 4.76% with £10k.

I also have just opened the VM Exclusive 1 year fixed ISA v11 at 5.25% which cannot be funded before 6 April as I have already subscribed to the 5.85% VM 1 year cash ISA v7 this year.

I plan to fund v11 with money from the easy access ISA. As the easy access is flexible the £10k ISA status will remain protected until 5 April 2025.

It just feels odd to me to move money from one ISA to another without doing an ISA transfer but still retain the ISA status of the first,

pecunianonolet

RG2015 said:

I have a Virgin Money Easy Access Exclusive Flexible cash ISA v2 at 4.76% with £10k.

I also have just opened the VM Exclusive 1 year fixed ISA v11 at 5.25% which cannot be funded before 6 April as I have already subscribed to the 5.85% VM 1 year cash ISA v7 this year.

I plan to fund v11 with money from the easy access ISA. As the easy access is flexible the £10k ISA status will remain protected until 5 April 2025.

It just feels odd to me to move money from one ISA to another without doing an ISA transfer but still retain the ISA status of the first,

Demonstrates the power of flexible ISAs. 

simonsmithsays

I received this text message from Virgin a couple of weeks ago.

Not that I'll be waiting until May to push new money in but its important to note they've calculated it's 30 working days since I transferred (funded).

I.e. not calendar days and not since opening.

movingon

RG2015 said:

I have a Virgin Money Easy Access Exclusive Flexible cash ISA v2 at 4.76% with £10k.

I also have just opened the VM Exclusive 1 year fixed ISA v11 at 5.25% which cannot be funded before 6 April as I have already subscribed to the 5.85% VM 1 year cash ISA v7 this year.

I plan to fund v11 with money from the easy access ISA. As the easy access is flexible the £10k ISA status will remain protected until 5 April 2025.

It just feels odd to me to move money from one ISA to another without doing an ISA transfer but still retain the ISA status of the first,

So from what you are saying, am I right in thinking I could move an old Flexi Isa with Virgin to this account as well as depositing £20K tomorrow?
Thanks

RG2015

movingon said:

RG2015 said:

I have a Virgin Money Easy Access Exclusive Flexible cash ISA v2 at 4.76% with £10k.

I also have just opened the VM Exclusive 1 year fixed ISA v11 at 5.25% which cannot be funded before 6 April as I have already subscribed to the 5.85% VM 1 year cash ISA v7 this year.

I plan to fund v11 with money from the easy access ISA. As the easy access is flexible the £10k ISA status will remain protected until 5 April 2025.

It just feels odd to me to move money from one ISA to another without doing an ISA transfer but still retain the ISA status of the first,

So from what you are saying, am I right in thinking I could move an old Flexi Isa with Virgin to this account as well as depositing £20K tomorrow?
Thanks

No.

Your annual ISA allowance is £20k. You would need to do an ISA transfer from any ISAs from previous years to add to the account above £20k from the 24/25 ISA allowance.

All I am saying is that I can fund version 11 up to £20k from any money I have anywhere.

It just so happens that it is a previous year's VM flexible ISA and moving money out to any destination will not affect its protected ISA status for the remainder of the year.

movingon

RG2015 said:

movingon said:

RG2015 said:

I have a Virgin Money Easy Access Exclusive Flexible cash ISA v2 at 4.76% with £10k.

I also have just opened the VM Exclusive 1 year fixed ISA v11 at 5.25% which cannot be funded before 6 April as I have already subscribed to the 5.85% VM 1 year cash ISA v7 this year.

I plan to fund v11 with money from the easy access ISA. As the easy access is flexible the £10k ISA status will remain protected until 5 April 2025.

It just feels odd to me to move money from one ISA to another without doing an ISA transfer but still retain the ISA status of the first,

So from what you are saying, am I right in thinking I could move an old Flexi Isa with Virgin to this account as well as depositing £20K tomorrow?
Thanks

No.

Your annual ISA allowance is £20k. You would need to do an ISA transfer from any ISAs from previous years to add to the account above £20k from the 24/25 ISA allowance.

Still don't get it.
The Virgin Flexible Isa I am talking about is from a previous tax year.
I can't transfer it plus 20K to this Fixed Virgin?
Only transfer it to a completely different (new) ISA?
Sorry, my brain is fried.