Santander £50 e-voucher

youngretired

Can anyone confirm if you transfer 2 different ISA's into 1 new Fixed ISA with Santander will you get 2 £50 e-vouchers. 
I have read from previous years where people have gotten 2 e-vouchers for transferring into 2 different ISA's but not if into the same ISA. I know I could open 2 Fixed ISA's but was trying to slim down the number of accounts I hold so merge the 2.

T&C's 3.3 imply that you can, but when you try doing a chat to find out exactly, it keeps sending you to the T&C's and not actually answering the question.
I know there are better rates out there than 4.15%, but with the voucher it makes it 4.40% and I'm not interested in the internet/app companies and have maxed out the other KRBS.

35har1old

youngretired said:

Can anyone confirm if you transfer 2 different ISA's into 1 new Fixed ISA with Santander will you get 2 £50 e-vouchers. 
I have read from previous years where people have gotten 2 e-vouchers for transferring into 2 different ISA's but not if into the same ISA. I know I could open 2 Fixed ISA's but was trying to slim down the number of accounts I hold so merge the 2.

T&C's 3.3 imply that you can, but when you try doing a chat to find out exactly, it keeps sending you to the T&C's and not actually answering the question.
I know there are better rates out there than 4.15%, but with the voucher it makes it 4.40% and I'm not interested in the internet/app companies and have maxed out the other KRBS.

I think you need to be transferring to 2 ISAS to get 2 £50 funding each with £10000
You must be transferring £20000 to only receive 4.40%

diy1950

I thought the £50 voucher was worth 0.5% making the overall rate 4.65%. Maths not my strong point, can anyone confirm whether the overall rate would be 4.40% or 4.65%. Thanks

refluxer

diy1950 said:

I thought the £50 voucher was worth 0.5% making the overall rate 4.65%. Maths not my strong point, can anyone confirm whether the overall rate would be 4.40% or 4.65%. Thanks

The effective rate of return will differ, depending on how much you're saving. It's 4.40% for £20k and 4.65% for £10k.
 
Here's one way of working it out for £20k. If you substitute £10k for £20k, you'll see the end result is 4.65%...

£20k at 4.15% for 1 year = 20,000 x 0.0415 = £830 interest

£830 interest + £50 bonus = £880

£880 / £20,000 =  0.044 which is 4.40% 

diy1950

Many thanks refluxer, as I said maths not my strong point.