Icesaver introducing ISA from tomorrow

jamescredmond

Lavendyr wrote: »

It is £3, 600 - they seem to have gotten confused between £3,600 and £7,200 which is the new maxi ISA limit from April 08.

correct. a 20% increase in the max. investment to £3600 as announced in the last budget.
the icesave isa is expected to be v.popular at 6.1% (slightly less than scarborough bs's at 6.3% but comes without the 30day notice).
wins my vote as the simplest 'clean' isa.

Stompa

I wonder if they'll let you transfer a TOISA in as well?

planemad

Once they offer this account tomorrow, do I call them first to open one and ask to transfer my current funds from ING?? Or do I have to notify ING direct first?

Thanks in advance

Nikko5

I'd like to transfer my Halifax ISA Direct "pot" (2 yrs worth) into the new Icesave ISA tomorrow (I already have an Icesave savings a/c). If I do this, will I still get interest from Halifax dated from last April up until tomorrow, before they transfer the funds to Icesave, or will I lose this financial year's interest from the Halifax? (In which case I'd be better waiting until after April to do the transfer).

Thanks!

david78

Nikko5 wrote: »

will I still get interest from Halifax dated from last April up until tomorrow, before they transfer the funds to Icesave

If you transfer the whole case ISA (and close the account) interest will be credited before it is transfered. No need to wait.

david78

planemad wrote: »

Once they offer this account tomorrow, do I call them first to open one and ask to transfer my current funds from ING?? Or do I have to notify ING direct first?

Wait and see. You will probably be able to open it online. There is no need to notify ING.

isasmurf

Stompa wrote: »

I wonder if they'll let you transfer a TOISA in as well?

A TOISA is a cash ISA so there is no reason for them not to allow it.

Nikko5

david78 wrote: »

If you transfer the whole case ISA (and close the account) interest will be credited before it is transfered. No need to wait.

Nice one, thanks, will get a transfer organised when Icesave web-site is updated tomorrow then!

bristolleedsfan

Primrose wrote: »

Another smack in the face for ING !!

Another smack in the face for a lot of Building Societies as well, many of whom are paying dire ISA rates. :whistle:

Icesave rate is likely to stay higher for longer than scarboroughs ISA rate.

http://www.scarboroughbs.co.uk/savingsandinvestments/products/notice_isa.html?icid=B107-49888344-069L

take a look at Scarboroughs instant access ISA rate _pale_

http://www.scarboroughbs.co.uk/savingsandinvestments/products/mini_cash_isa.html

Stompa

isasmurf wrote: »

A TOISA is a cash ISA so there is no reason for them not to allow it.

True enough, though I've read that there are some existing providers that won't.