Transfer Cash ISAs Discussion Area

Lokolo

Speak to a different member of staff.

But to be fair, who cares if they open it, when you move again, just close it and never use it.

granny_grunt

Spoke to 2 members of staff who didnt have a clue. When I got back I phoned number on the web site and at first they said no I [EMAIL="didn@t"]didn't[/EMAIL] need to open another account .When I said the local branch had insisted he said he'd have to check and ofcourse came back to me with Oh sorry yes you have to open this special reserve account. I don't think they know themselves. But I did transfer some other Isas in April to A&L and had no trouble at all ,so I know it is possible

vernall

i currently have an ISA with abbey at 3.85%(I THINK)with a balance of about £8500,in the terms if i want to close this they deduct 180 days gross interest......would it be worth me switching to the new NATWEST ISA or would the penalties negate the higher interest?

Baldur

vernall wrote: »

i currently have an ISA with abbey at 3.85%(I THINK)with a balance of about £8500,in the terms if i want to close this they deduct 180 days gross interest......would it be worth me switching to the new NATWEST ISA or would the penalties negate the higher interest?

The 3.85% rate looks like their Easy ISA /TOISA £6000-£9000 rate band. The 180 days only appears to refer to the now defunct 'Choices' fixed-term (1 to 4 years) ISA - see HERE, Section 9 "Withdrawal/closure charge".

From 30th June 2007 the Choices ISA became an Easy ISA (instant access), so you may wish to check with Abbey whether you would now be subject to any penalty for transferring yours.

purplelotus

I already have a Natwest ISA, from what I've read, I think I'm screwed if I want the better interest rate.

Could I transfer it out and then back again? Would that be worthwhile or a total waste of time?

I want to transfer it out now anyway just because I'm annoyed that they're penalising me for being a pre-existing customer :mad: Where would accept transfer of my old ISA to give me a better rate than Natwest's? I think I fall into the £18,000 - £26,999 category:

Excluding bonus
Balance - AER (Variable) - Gross Rate
£18,000 - £26,999 - 5.10% - 4.98%

jemmychaos

Hi all, just trying to find out if anyone else is having the same difficulties transferring alliance & leicester ISAs to the new Natwest one. My problem is that alliance & leicteser ISAs all have the same sort code and account number -00000000 - and then you have an 11 digit 'reference number'. The trouble is that there's nowhere to put this on the natwest transfer forms, it just asks for the sort code and account number, and when i spoke to someone at a&l she said they would need the reference number to be able to transfer the account and couldn't help with what i was supposed to do. I haven't yet managed to get through to natwest to talk to them about it - has anyone else come up against this?

thanks

Baldur

jemmychaos wrote: »

alliance & leicteser ISAs all have the same sort code and account number -00000000 - and then you have an 11 digit 'reference number'. The trouble is that there's nowhere to put this on the natwest transfer forms, it just asks for the sort code and account number

I would simply write "Account Reference No: XXXXXXXXXXX" in large print above the boxes on the form for sort code & account number.

mmjjbb2008

clouds21 wrote: »

Dear All,

I hope this is the right place, apologies if not!

I see that RBS & NatWest are offering some ok rates but I have a question for the forum:
if I switch now, ie 6 months before the end of the tax year do I still get interest paid by my current ISA provider (KRBS cash ISA 5.76%) and then RBS would pay the proportion of their rate advertised, is that right?

Have read the RBS website and it's a bit cunning! The bonus is paid in 2 instalments, March '09 and March '10, weird having a 12-month run at this time of year but I guess they need cash... Also, as I have not paid my full entitlement for 08/09 yet I would not get the bonus on the outstanding amount if I paid it into RBS after the transfer, is that right? Best to pay full entitlement into KRBS and then transfer? What do you think?

Anyone done a transfer half way through the year and what experience did you have with interest payments/ deductions?

Best wishes
clouds21

I telephoned RBS today with regards interest payment. They said that interest would be paid March09 and March10 and that if the ISA was transferred out before March10 then no bonus would be paid for the period March09 to date of transfer. Anyone know if this is correct?

jemmychaos

Baldur wrote: »

I would simply write "Account Reference No: XXXXXXXXXXX" in large print above the boxes on the form for sort code & account number.

I finally managed to speak to someone at Natwest and that's pretty much what she said. It does make me slightly nervous though...

However I should also add for the benefit of anyone else applying for the natwest ISA, as this isn't clear on their website, that you need to get an application form either by phoning up (takes 20 mins she said) or by going into the branch. The ISA transfer application form that they very prominently link to on their website isn't actually an application to open the account: you need to get the application form from the branch, and then take it back to the branch, with the transfer form and 2 forms of ID (photo and address). it then takes up to 30 days from then. What a faff!

grumpyoldsod

I have the Barclays Tax Saver ISA - should I transfer to Nat West?

Tried searching for this but couldn't find on forum.