ISA - Lower interest rate after 1 year?

35har1old

refluxer said:

Marvqn1 said:

Reading online, people say that when they opened an account with a new provider, they needed a passport and had to record a video of them holding their passport.

As mentioned above, provided you pass a bank's online ID checks, there should be no need to take selfies or supply photo ID. While there are one or two (often app-based) banks who require this by default, they are very much in the minority.  

RBS requires you to upload a passport plus a video even if you are changing a sole current account to joint

Ocelot

I've never been asked to provide a photo ID on any accounts or ISAs.

Rich1976

I’ve never been asked for any photographic evidence on any account openings. Check the provider’s website to see what verification methods they use and avoid any that ask for photographic id.

MDMD

VNX said:

Marvqn1 said:

Ayr_Rage said:

You can TRANSFER those funds to ANY ISA you wish and they will remain free from tax.

I understand I can transfer the funds.

However, the issue is, I don't have a passport or drivers licence so that makes it very difficult to move to any other savings provider. So I'm wondering if it’s feasible to get a 4%+ interest rate with Lloyds after a year.

How can anyone know if Lloyds will have an isa of 4%+ in a years time?

Lloyds have a 2 year ISA at 4%, and they allow you to pay or transfer in at any point in the term.

There’s a workaround where OP could open both the 4.25% one year and the 4% two year now, pay into the one year, then transfer into the two year for the second year of the term when the first term finishes