Kent reliance cash isa initial deposit query when transferring

SharkMoney

I have opened a new account and i am opting to transfer the full past years and current years ISA Cash from another provider which Kent reliance application process said takes 15 days. However, i have now had an email from Kent reliance saying my initial deposit must be made within 7 days or my account application will be cancelled. I can’t transfer separate cash because this will ruin the current year allowance. This doesn’t make sense!

masonic

Why doesn't it make sense? It wouldn't make sense for them to cancel an application when they are in the middle of processing an inward transfer. Do you mean not or now?

SharkMoney

i mean “now” so it means my deposit wont make it within the 7 days limit

masonic

Thanks for editing your post, which makes more sense now. It is likely KRBS has sent that message without considering customers who are not subscribing new money. But you can confirm this with them. It wouldn't make sense for them to cancel an application when they are in the middle of processing an inward transfer.

It's also quite likely that the ISA transfer will be completed much more quickly than the 15 days indicated, which is the maximum time allowed for a cash ISA to cash ISA transfer. The industry reported that last year 90% of cash ISA transfers completed within 7 working days: https://www.tisa.uk.com/cash-isa-transfer-performance-2025/

SharkMoney

thanks. I will call them tomorrow just to double check.

alinkliter

Is the Kent Reliance Instant Access ISA currently paying 4.27% and highlighted on the Martin Lewis ISA page, flexible or not? It states not flexible on the ML ISA page but flexible on the Kent Reliance website. Or are there different levels of flexibility?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81993566#Comment_81993566

Where are you seeing reference to flexibility on the KR site?

The Ts & Cs say not:

Any funds withdrawn from the account cannot be subsequently replaced in the same tax year.

https://www.kentreliance.co.uk/media/xwnflcl1/797-easy-access-cash-isas-flyer-220519.pdf

rallycurve

It is not a flexible ISA but it will be once it's migrated to the new system, something that won't happen before July

alinkliter

https://forums.moneysavingexpert.com/discussion/comment/81993570#Comment_81993570

Key Features & Summary Box Easy Access Cash ISA

Kent Reliance Easy Access Cash ISA - 4.27%

This is a flexible Cash ISA, which means you can withdraw money and pay it back into any one of our Cash ISA Accounts operated on the same Online Services without affecting your ISA Allowance, as long as it’s done in the same tax year that you took it out.

rallycurve

If you look carefully, the link to the document for those key features and summary box comes right after this paragraph:

From the date your account moves to the new Online Services the terms and conditions for your account will change to:

https://www.kentreliance.co.uk/products/isas/easy-access-cash-isa

Also at the top of the document you refer to it says

This is the Key Features and Summary Box for this Product which, together with the Savings Account Conditions, will apply from the date
this account moves to our new Online Services.

alinkliter

Thanks for clearing that up rallycurve, well spotted.