Newcastle Single Access ISA - 5%

subjecttocontract

Is it any good ? Wife fancies opening an account.
I notice that the application form doesn't allow one to both transfer in and add new money......it's one or the other, can't tick both boxes. Seems rather strange. I guess they are only structured to do one thing at a time !

jimjames

Depends what you want from it. Personally I'd prefer a higher rate and no limit on access that Chip offer

gravel_2

There's not a limit on deposits. Likely you have to choose one or the other for initial payment in.

If you had read the terms....

"7. After paying in your initial Deposit of at least £1, you may make unlimited further Deposits, subject to the maximum balances shown above."

subjecttocontract

Yes but her initial deposit would be £20K.......so there wouldn't be any more deposits. She'd also like to transfer 2 other ISAs to the same account. Would be nice to be able to arrange this all at the same time.....doesn't seem possible !

gravel_2

subjecttocontract said:

Yes but her initial deposit would be £20K.......so there wouldn't be any more deposits. She'd also like to transfer 2 other ISAs to the same account. Would be nice to be able to arrange this all at the same time.....doesn't seem possible !

Once opened you can make additional deposits (which presumably includes transfers). You are better to the bank if you want clarity.

badger09

subjecttocontract said:

Yes but her initial deposit would be £20K.......so there wouldn't be any more deposits. She'd also like to transfer 2 other ISAs to the same account. Would be nice to be able to arrange this all at the same time.....doesn't seem possible !

1 Open the ISA account
2 Select xfer in option & complete xfer details
3 As soon as account details are known, (sort code: generic a/c: ISA a/c number/ref) pay in up to £20k via bank transfer. 

OR
1 Open the ISA account
2 Pay in up to £20k
3 Phone Newcastle BS to arrange xfers in, or complete their Cash ISA xfer forms 

https://assets-eu-01.kc-usercontent.com/8a09b82e-1cf1-011c-1115-9dc18d2d065f/8675c1ff-0e33-4f24-9f90-207a2d86f9da/Cash%20ISA%20Transfer%20Form%202024.pdf

Neither is ‘arrange all this at same time’ but Newcastle BS systems are not at the cutting edge of technology. 

Not particularly arduous, & wouldn’t be a dealbreaker for me if I wanted this account.  

subjecttocontract

Yes thanks for the info. I phoned them yesterday and they gave me the same instructions. I've passed this on to my CEO and she can open her account now.

HHUK

subjecttocontract said:

I notice that the application form doesn't allow one to both transfer in and add new money......it's one or the other, can't tick both boxes. Seems rather strange.

When I click the statement confirming I've already opened an ISA in this tax year with another provider, it says I'll have to transfer the funds in order to open the Single Access ISA, which I have no wish to do.