how to transfer a fixed ISA on maturity ?

[Deleted User]

Has anyone got any experience a Virgin 1 year fixed ISA . 

I have one which is to mature on the 24th of September which I wish to transfer the full amount into an already setup Trading 212 easy access ISA .


Would I need to allow the funds to transfer into the Virgin 0.10% ISA then transfer the funds over or is there a way of setting up as soon as it matures ? .

 There does not seem an option on the virgin website - just to have it sent to a cash account , standard isa at 010%  or a fixed isa. 

Any help would be appreciated 

shap

Ayr_Rage

Let it roll over to an instant access ISA with Virgin.

The transfer has to be initiated with Trading 212, so fill in the transfer request on the app or website.

I have recently transferred 2 cash ISAs to T212 and both were completed within 5 working days.

35har1old

[Deleted User] said:

Has anyone got any experience a Virgin 1 year fixed ISA . 

I have one which is to mature on the 24th of September which I wish to transfer the full amount into an already setup Trading 212 easy access ISA .


Would I need to allow the funds to transfer into the Virgin 0.10% ISA then transfer the funds over or is there a way of setting up as soon as it matures ? .

 There does not seem an option on the virgin website - just to have it sent to a cash account , standard isa at 010%  or a fixed isa. 

Any help would be appreciated 

shap

Have they issued maturity options?
If your are eligible for exclusive ISA there is a
Easy Access Cash ISA Exclusive
4.51 %
If not Defined Acess Cash E-ISA 4.25%
You could also have you new ISA provider apply for the transfer to take place on maturity but ISA transfers can take upto 15 working days to complete In you case could mean 14th October 

Ayr_Rage

@35har1old I couldn't see any option from T212 to delay the transfer request to the maturity date.

[Deleted User]

35har1old said:

[Deleted User] said:

Has anyone got any experience a Virgin 1 year fixed ISA . 

I have one which is to mature on the 24th of September which I wish to transfer the full amount into an already setup Trading 212 easy access ISA .


Would I need to allow the funds to transfer into the Virgin 0.10% ISA then transfer the funds over or is there a way of setting up as soon as it matures ? .

 There does not seem an option on the virgin website - just to have it sent to a cash account , standard isa at 010%  or a fixed isa. 

Any help would be appreciated 

shap

Have they issued maturity options?
If your are eligible for exclusive ISA there is a
Easy Access Cash ISA Exclusive
4.51 %
If not Defined Acess Cash E-ISA 4.25%
You could also have you new ISA provider apply for the transfer to take place on maturity but ISA transfers can take upto 15 working days to complete In you case could mean 14th October 

Thanks for the comments , just checked again and they have given me the option of Easy Access Cash ISA at 4.51% ..  not too sure how long the transfer to trading 212 will take so would this be an better option than the 0.10%  isa if it is going to be weeks rather than days.

Ayr_Rage

I rolled a fixed ISA with Charter Savings Bank to an Easy Access ISA at roughly the same rate as you are quoting and then initiated the transfer one day later with Trading 212.

It was all completed within 5 workings days so very little loss of interest.

I also transferred a Chip ISA to Trading 212 and that was completed within exactly the same timescale.

[Deleted User]

Ayr_Rage said:

I rolled a fixed ISA with Charter Savings Bank to an Easy Access ISA at roughly the same rate as you are quoting and then initiated the transfer one day later with Trading 212.

It was all completed within 5 workings days so very little loss of interest.

I also transferred a Chip ISA to Trading 212 and that was completed within exactly the same timescale.

Thanks  , when you made the transfer to Trading 212 on the app which option did you select under Transfer Details - subscriptions to transfer  - it asks either ( or both ) current year and previous tax years ...bit confused  ...

auser99

Had a Virgin fixed ISA expiring and the easiest way was simply to let it expire into the easy access 0.10% rate. Then set up the switch with the new provider.

I believe you can request the new supplier to deal with the expiring fixed ISAa while before it expires, but it just screams for one side or the other to bodge it up.

I was pleasantly amazed that Virgin to Santander took 2 days!
Maybe that's how it should work, as I'd only previously done an old school paper transfer between NSI and Shawbrook which took about 3months and compo!

Albermarle

auser99 said:

Had a Virgin fixed ISA expiring and the easiest way was simply to let it expire into the easy access 0.10% rate. Then set up the switch with the new provider.

I believe you can request the new supplier to deal with the expiring fixed ISAa while before it expires, but it just screams for one side or the other to bodge it up.

I was pleasantly amazed that Virgin to Santander took 2 days!
Maybe that's how it should work, as I'd only previously done an old school paper transfer between NSI and Shawbrook which took about 3months and compo!

I recently transferred from Nationwide to Shawbrook, and organised it before the maturity date, and all went smoothly. Also have done the same in the past. However you are right that there is always the possibility of a mix up. I would avoid doing it with certain providers who regularly crop up on the forum due to general admin issues ( like Virgin money or the Post Office ) or very new providers in the market.

Had a Virgin fixed ISA expiring and the easiest way was simply to let it expire into the easy access 0.10% rate.
 Good to be aware that if not receiving any instructions, some providers will roll you over into the same product you already have. So if you have a two year fixed term maturing, they will roll you over into a new two year fixed bond. 

savit4l8er

I have several instructed dipping into a maturing Nationwide so am keeping a close eye on it to ensure it does not get closed before the maturity date.  They are losing all because the rate they were offering with the attached penalty was not sufficiently good enough to have me jump through their hoops to keep anything with them just now. 

Beano456

My virgin fixed ISA matured on Tues 24th, I was transferring it to t212 cash ISA so let it automatically go into virgins 0.1% account then initiated the transfer in the early hours of the Wednesday. On Friday I got a message the transfer was completed and funds showing in t212 so not too bad only loosing a couple days interest. I did notice that the virgin ISA sort code & account number remained the same when they moved the matured funds to the easy access 0.1% ISA so I guess I could have done the transfer a bit sooner.