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BoS/Halifax flexible ISA deposits issue


Just a heads up - if you've flexibly withdrawn funds from a Bank of Scotland or Halifax ISA this year and plan to deposit the money back (from another BoS/Halifax account) before the end of the tax year then you might encounter a glitch in their system which tells you the deposit would exceed your ISA allowance and cannot be made (apparently a known issue, but not all staff are aware of it).

The workaround is for a member of staff to do a manual transfer.

I'm not sure if this also affects Lloyds accounts, and don't know what happens if you try and transfer money into the ISA from an external source.

But if you need to transfer funds from a BoS/Halifax savings account into an ISA you've withdrawn from during the year then allow some extra time in case you are affected by this glitch... i.e. don't do what I'd normally do and leave the transfer to the last minute.
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