Charter 1 yr fixed rate isa interest

P933alilli

My 1 yr fix matured this morning and ive found that the interest has gone straight into my nominated account which i didnt want. I wanted it remaining in the tax free wrapper with the sum i originally saved.  On maturity i opted for their 5.03% easy access isa so that i could have more time to decide what to do and assumed that the interest would go into it with the original savings.

xylophone

When you opened the account, was there an option for the interest to be paid either into the isa or into the nominated account?
Did you tick the wrong box?

P933alilli

xylophone said:

When you opened the account, was there an option for the interest to be paid either into the isa or into the nominated account?
Did you tick the wrong box?

Thats what i'm thinking, possibly ive done that!

Veteransaver

You would have had an option when you opened the account, you must have ticked the wrong box. Main rule with ISAs is to never pay the interest away as it comes outside the tax wrapper

Though I did it by mistake on one of my charter ISAs, it's too late now for you but you can amend it before it gets paid. I usually opt for monthly interest though so it wasn't a lot.
Are we talking a lot of interest?

P933alilli

Veteransaver said:

You would have had an option when you opened the account, you must have ticked the wrong box. Main rule with ISAs is to never pay the interest away as it comes outside the tax wrapper

Though I did it by mistake on one of my charter ISAs, it's too late now for you but you can amend it before it gets paid. I usually opt for monthly interest though so it wasn't a lot.
Are we talking a lot of interest?

No, its only £500 or so. Too late now as you say! Thanks for the replies!

soulsaver

Why not ask Charter why they paid it away?

P933alilli

soulsaver said:

Why not ask Charter why they paid it away?

Ive sent them a message (they reply within 4 working days) but i think i must have chosen the option of paying the interest away on opening the isa!