Tembo fixed term ISA paying in funds

bucksman

We have opened a fixed-term cash ISA with Tembo, and sent over a first payment, we were going to top it up to ma the ISA for the year. We have now fouund that with each transfer a separate ISA is set up with a different maturity date.  Indeed, the last transfer today, it is not going to benefit from the interest that we first applied for just 4 days ago! This all feels unusual. I am used to a period where you can pay in funds, usually 10 days or so.  Anyone else found this?  Is this unusual?

Ayr_Rage

Sorry @bucksman but you didn't read the Key Features Document, entirely your mistake.

After the initial funding, any subsequent deposits or transfers into your Cash ISA - Fixed Rate will have their own start date, interest rate (as set in the app on that day), and maturity date, depending on when the money is cleared into the Fixed Rate account.

bucksman

https://forums.moneysavingexpert.com/discussion/comment/81891249#Comment_81891249

Thank you for this and so a 'note to self' - read and check before opening!!