Icesaver introducing ISA from tomorrow

simpleguy_blr

Hi,

I recently transferred my ISA from HSBC to YBS, this was in Aug 2007, By transferring from HSBC to YBS, I knew I am getting a better rate of interest, Now that YBS has brought down their rates, should I move this into IceSave?

I just have about £3500 in my ISA Savings...

My partner hold £8000 with HSBC ISA, I think moving this will be good. Will it be possible to transfer all previous years ISA and leave the current years ISA with HSBC?

Please suggest....

Thanks

Lavendyr

On the transfer form for Icesave there is the option to choose whether you want to transfer the whole amount in any one account, all previous years' subscriptions or just the current year's subscription, so you can do whichever you want.

As to whether you move now or not, it's really up to you - you could choose to wait & see what other providers come out with closer to April, or you could go for it now and avoid the rush. I chose to go to Icesave now because I already have a savings account with them and I am pleased both with their rate guarantee and their customer service.

poppy10_2

littlemissmoney wrote: »

Does the 60 day notice even apply to transfers?

Should I open a Icesave ISA, let Nationwide know I will be tranfering money in 60 days, then after 60 days fill in an Icesave transfer form?

1. Yes

2. No, just do the transfer form straight away and the money will be paid in when it is ready.

1+1=3

Thanks for clearing up the transfer date thing Lavendyr and masonic

THX

stevedb11 wrote: »

Hi, I've just posted the Icesave ISA transfer form,
I'm Tranferring frome the Yorkshire BS E-ISA.I've dated my Transfer for 21st Jan 2008.
here's what it says in the E-ISA terms.
Withdrawals The minimum amount you can withdraw is £10, and you must maintain a minimum balance of £10. Funds withdrawn earn interest up to, but not including, the day of withdrawal.
You will not be able to withdraw against your initial cheque deposit until the first working day after 4 working days (not including the day the cheque is credited to your account) has elapsed. If the cheque is returned unpaid, we will deduct the amount from your balance even if we have allowed withdrawals against it.
Withdrawals will only be allowed either by:

• logging onto our website to transfer to your nominated bank or building society account or a nominated account held with us, or
• arranging a transfer to another ISA provider.

In the case of transfers to another account held with us, the funds will normally be credited the next day. Transfers to an account at another bank or building society could take up to 5 working days to be credited.
Hope this Helps, Steve

So i just need to date the transfer for about a week ahead of posting the form?

Thanks again:D

Edit: Looking at the above posts it seems I could probably just date it for the day of posting. Is that correct?

edda

littlemissmoney wrote: »

Hi

I'm thinking of transfering my Nationwide members ISA to Icesave. My Nationwide ISA requires 60 days notice, so how do I go about doing this? Does the 60 day notice even apply to transfers?

Should I open a Icesave ISA, let Nationwide know I will be tranfering money in 60 days, then after 60 days fill in an Icesave transfer form?

Thanks for any help!

I would give Nationwide notice today. They will tell you when the 60 days is due and log it on your account now. Then use that date to put on your ISA form to Icesave. Leave Icesave to request the money from Nationwide.

The advantage this way round is that the 60 days countdown starts as soon as you tell Nationwide. Icesave might not inform them for a few days (or longer - depending on how many people apply to open new accounts in the 1st week or 2).

Incidentally, Nationwide has an unwritten condition on some of their ISA accounts with a 60 day notice on them. The transfer has to be done within 10 days of the notice date being reached - or you have to give them another 60 days notice again! :shocked:

blizeH

Thanks for the info above, just wanting to confirm that I should put today's date on the 'Date of transfer' section? Cheers

oldagetraveller

poppy10 wrote: »

Nonsense. You don't lose the tax free status if you are transferring your money to another ISA provider, only if you are withdrawing your money from the ISA.

I know, I know!! Some people might not though and believe what they are being told by some misinformed CS "advisor".

oldagetraveller

Lavendyr wrote: »

What *is* the sort code, out of interest? Haven't filled out my form yet

I was told it's 10-21-65 but that could also be "nonsense".:rolleyes:

ukdutypaid

Please, please tell me if anybody has/is able to avail themselves of Icesave's
Guarantee
"if we can't beat your current rate, we'll give you 1,000".........

(see bottom of their ISA page)
It's riddled with catches, but ye god's somebody must be able to do it....