Santander Fixed ISA

NebulaNova

Hi, I wasn't planning to go with a fixed but I have emergency funds and worst case, I withdraw it and lose £300 in fees. Interest rate is 4.5% and a £50 Amazon voucher.

I have some questions though -

Is it completely online? As in I can set it up online and fund it from another bank account online?

Although the interest is yearly, does the app show you how much you've earned so far?

Can your withdraw it out online?

Thanks

badger09

https://forums.moneysavingexpert.com/discussion/6663796/santander-fixed-isa

To qualify for £50 voucher you need to open an ISA with Santander, and ask them to xfer in your ISA from another provider. That ISA must have at least £10k, & must be transferred in full. If you don’t already have one, you need to open one & pay in at least £10k.

Most ISA transactions can be done completely online but you’d have to check that Santander can do an online xfer from whoever holds your existing ISA. From memory, there’s a drop down list as part of the Santander application process. (But my memory isn’t what it was!)

NebulaNova

https://forums.moneysavingexpert.com/discussion/comment/81959668#Comment_81959668

Can't I do new money?

silvermum

https://forums.moneysavingexpert.com/discussion/6663796/santander-fixed-isa

Unless there is a monthly interest option I doubt you will see the interest added to your account monthly - most one year fixed accounts pay the interest in a lump sum on the anniversary of opening.

badger09

https://forums.moneysavingexpert.com/discussion/comment/81959669#Comment_81959669

Yes you can ‘do new money’ but you also have to transfer.

Suggest you read the T&Cs

refluxer

https://forums.moneysavingexpert.com/discussion/comment/81959669#Comment_81959669

As mentioned above, you only get the eVoucher if you do a full transfer of £10k or more from a different ISA provider. You can fund the ISA solely with new subscriptions but you won't get a voucher.

Santander credit interest annually and don't show how much interest has been earned up until that point, IIRC.

NebulaNova

I see, ok thanks. Again is that all done electronically? It'll be from Moneybox.

oddcueball52

I had a look as I have opened Santander ISA account to transfer in a matured Nationwide ISA. I believe MoneyBox is Digital Moneybox Ltd so it look like you can electronically fill the form.

35har1old

https://forums.moneysavingexpert.com/discussion/comment/81959669#Comment_81959669

You can but you won't get the £50 bonus

NebulaNova

https://forums.moneysavingexpert.com/discussion/comment/81959861#Comment_81959861

That's good. I could do that for my existing ISA but then that still leaves my current tax year and where to put that. I guess I could then fund Moneybox again

auser99

The Santander ISA gives a £50 voucher for up to £24,999, £100 for up to £49,999.

If you had an ISA maturing into an Easy access ISA with another bank tomorrow that was say £22k - is there any reason you can't use some of this year's money to top it up to £25k first, before you transfer into Santander going through the Online transfer process?

I can't see anything stopping that. The only thing that is a definite non qualifier is putting XXX amount straight into a new Santander ISA with new year money.