Charter Bank ISA transfer poor experience.

JSmith321

So I've been told the interest on my Charter Easy access cash ISA Easy Access Cash ISA Issue 47 is dropping to 3.9% so I decided to transfer to their Easy Access Cash ISA Issue 57 at 4.5%. Went through the process, reading the T&C's then at the "end" of the process they tell me they are not long accepting new accounts. Why the hell couldn't they mention that at the beginning of the process! Why advertise a product that is no longer accepting new customers? Now I have to seek another provider and transfer to them - it's like drawing teeth. 

Bobblehat

Very strange given that they are still showing Issue 57 EA ISA (at 4.59%) on their website, and Moneyfacts are still listing it.

You could call/message them to see if it's an IT glitch? Or go elsewhere, as you've said, if they have annoyed you so much.

JSmith321

Seems it's available again! Saying that it seems that I can't open a new Cash ISA to transfer the old one into if I have already opened a cash ISA with another provider this year! Though other threads in this forum mention that they have no right to impose these restrictions. Catch 22, you have to open a new Cash ISA to do a transfer, but you are not allowed to do this if you have done this already with another provider. Think I'll move into stocks and shares it seems like less hassle.

Numbersup

JSmith321 said:

Seems it's available again! Saying that it seems that I can't open a new Cash ISA to transfer the old one into if I have already opened a cash ISA with another provider this year! Though other threads in this forum mention that they have no right to impose these restrictions. Catch 22, you have to open a new Cash ISA to do a transfer, but you are not allowed to do this if you have done this already with another provider. Think I'll move into stocks and shares it seems like less hassle.

Vida savings is a bit like that.  Defined access ISA  (4 times)  at 4.63%   You take your time, look into it , read about it , weigh it up ,  then when you proceed   it says if  youve already opened an isa this year you HAVE to transfer it to them before you can add past isas. I would like to have seen that  right in the initial blurb.  Ive only just opened a fix  with Coventry, and dont feel inclined to mess about cancelling it as Vida although flexible,is  still only variable , but it would have suited me for a couple of old smaller isas.. .