Abbey Direct ISA Issue 2 ( 6.25%)

10_66

It dropped to 6% on 1 Jan 08, but I don't know if it's dropped again since the last BofE rate reduction, as I've since transferred out to another provider.

pardal51

Canny_mal wrote: »

I can't find the rates for their Direct ISA issue 1 anywhere on the Abbey website since issue 2 was unvailed. Can anyone point me in the right direction?

Spoke to CS on Friday night and the rates are 5.75% & 6.00% as per Canny_mal post. And they are very cheeky as you need to sign a form to transfer your issue 1 to issue 2. I therefore recommend you either ring them up and ask to get the form sent or pop in branch.

cheers

Stavros_3

Am I right in thinking that Abbey issue 2 isa is 6.25 fixed and allows transfers in or did I misread the best isa discussion thread that gives a link to Abbey ?

jimbow25

It is 6.25%, it does allow transfers in, but I believe it is variable rate, not fixed.

bristolleedsfan

Stavros wrote: »

Am I right in thinking that Abbey issue 2 isa is 6.25 fixed and allows transfers in or did I misread the best isa discussion thread that gives a link to Abbey ?

A few of us formed an opinion that first first year might be fixed, turns out to be variable rate.

carpy

as others have said i cannot find interest rates for the issue 1 anywhere which is very bad in IMO!!!!

i emailed them and was told the following;

"Please find below the current interest rates on the Direct ISA, these rates are correct as at 1st March 2008:

Rates include a variable rate bonus, currently equivalent to 0,50% until 1 May 2008

For balances of £1+

Tax - free rate gross p.a. - 5.50%
Tax - free rate AER - 5.50%

For balances of £9k+

Tax - free rate gross p.a. - 5.75%
Tax - free rate AER - 5.75%

does anyone know if you transfer from the issue 1 to issue 2 do you keep the same account number? also how long does the process take? is it the usual 30 days even though it's an 'internal' transfer?

jofilan

I managed to find the rates for Issue 1 on their website at this link (I actually had it saved from when I was trying to find the interest rate for a different withdrawn account :rolleyes2 !)

http://www.abbey.com/csgs/Satellite?c=GSAgrupAsset&cid=1110965066360&pagename=Abbey/GSAgrupAsset/GS_ProductosRetirados

Will agree though that actually finding this page was difficult to say the least.

(You need to scroll right down to the bottom of the page, and it is the penultimate account listed)

thor

carpy wrote: »

as others have said i cannot find interest rates for the issue 1 anywhere which is very bad in IMO!!!!

i emailed them and was told the following;

"Please find below the current interest rates on the Direct ISA, these rates are correct as at 1st March 2008:

Rates include a variable rate bonus, currently equivalent to 0,50% until 1 May 2008

For balances of £1+

Tax - free rate gross p.a. - 5.50%
Tax - free rate AER - 5.50%

For balances of £9k+

Tax - free rate gross p.a. - 5.75%
Tax - free rate AER - 5.75%

does anyone know if you transfer from the issue 1 to issue 2 do you keep the same account number? also how long does the process take? is it the usual 30 days even though it's an 'internal' transfer?

Last year I carried out an internal transfer from their Easy Isa to the Direct ISA issue 1 and I think that the account number did not change. Also I was told that the no interest would be lost as it is an internal transfer. I can't remember how long it took though.