Help please re: Fixed Cash Isa's that still accept funds during duration of fixed term

intalex

https://forums.moneysavingexpert.com/discussion/comment/81894322#Comment_81894322

This is interesting, I know they've refused a transfer-in of an external ISA into one of their fixed rate ISA (under old T&Cs allowing new tax year contributions), but if they are more relaxed about internal consolidation, I wonder if transferring an external ISA into their easy access cash ISA and then requesting a consolidation into their fixed rate ISA might work…

bristolleedsfan

Re - Shawbrook

They appear to have only put a time limit when an account must be funded.

Funds can still be added during term.

https://www.shawbrook.co.uk/media/fnrlcsrh/5-year-fixed-rate-cash-isa-66.pdf

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81894429#Comment_81894429

Sorry I misunderstood. I thought the fixed rate ISA had been open a while, not just in the last few days.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81894632#Comment_81894632

Well spotted, I have been back on their website as I was sure I had not seen that.

The answer is that in the Summary ( link below) it is not mentioned, although many other details are.

5 Year Fixed Rate Cash ISA | Our Best 5 Year Fixed ISA Rate

However your link was to the Key Product Information, where nearly all the details are similar to above, apart from it does mention that you can add funds during the fixed term .

It is almost like they offer it, but do not want to broadcast it.

Also when I opened a fixed term account with them, they sent a letter saying new funds could only be added until the product was withdrawn. I messaged them and they said that only applied to non ISA fixed term accounts ' sorry for the confusion' .

Angelica123

https://forums.moneysavingexpert.com/discussion/comment/81894672#Comment_81894672

In the summary you have linked it also mentions the 90 day funding window. It's the 4th bullet point under "how do I open and manage the account".

I must I had recently opened the 5 year fixed cash ISA and hadn't noticed the change in T&C's. Will have to adjust my funding strategy. I was assuming it would be like my previous Shawbrook fixed ISAs where I have contributed throughout the term. I guess a lesson in being diligent with checking the information even when familiar with similar products.

intalex

https://forums.moneysavingexpert.com/discussion/comment/81894681#Comment_81894681

Is it possible that they've removed the ability to fund annually on (new) fixed rate ISAs, and reflected it in the product features (90 days limit) but forgotten to align the T&Cs further down?

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81894681#Comment_81894681

But in the Key Product information sheet , it still says you can add to a fixed term ISA during the term. The info is inconsistent, as it always has been in fact.

Before ‘changing strategy’ I would suggest contacting them for clarification. Make sure you are clear you are only asking about fixed term ISAs ( not standard fixed term accounts ).

Silverweed

https://forums.moneysavingexpert.com/discussion/comment/81894632#Comment_81894632

Thank you for highlighting this. Great spot! It is there after all, but rather hidden away.

bristolleedsfan

https://forums.moneysavingexpert.com/discussion/comment/81894934#Comment_81894934

It is where it has always been. 😀

Likely all Shawbrook have done is to stop people applying for Fixed Cash ISA and initially funding months or as I did 5 year 5.22% a year or more later, 😀

astro-k

Finally got the emails from Kent Reliance confirming -

When can you then add additional deposits?

• Notice accounts – you can add deposits at any time.
• ISAs – you can add deposits at any time, but you must stay within your ISA allowance for each tax year.

Please see your specific product terms and conditions for full details.