A&L Direct ISA Issue 4

littlemissmoney

Hi

Two quick questions about the A&L Direct ISA Issue 4...

When I click "apply", one of the conditions you click to agree is true is:

You have not contributed to another Mini Cash or Maxi ISA in the same tax year that you subscribe to this Mini ISA

Does this mean you can't open it and just do a transfer? Does subscribe mean open or pay money in? I paid my £3,000 into my current ISA last April. Do I have to wait until April to open the A&L one?

And another question... it says:

Thank you for deciding to apply for an Alliance & Leicester Direct Mini Cash ISA for the tax year 2007/08.

I'm transfer from an ISA where I have to give 60 days notice. So by the time the money gets to the A&L ISA it will be tax year 2008/9. Is this a problem?

Indispensable_Hobbes

i transferred my 06-07 contributions from A&L to YBS last year... i'm sure the first question came up but i went through with it anyway as i wasnt going to contribute to the YBS.

doesnt matter as long as you contribute to it in the next tax year.

Mikeyorks

littlemissmoney wrote: »

A) Does subscribe mean open or pay money in?

So by the time the money gets to the A&L ISA it will be tax year 2008/9. Is this a problem?

A) ...... it means to pay money in. So as you don't intend to do that (transfer is not 'subscribe') then it's OK. There should be a bit further on to say how you will fund which, of course, you will complete as 'solely by transfer' (or, at least, to that effect). But you need to complete a transfer application .. which may be separate or just an add on to the open application?
....... no it's not a problem.

Penny_pincher_4

Good Afternoon All,
I have been told by A&L that a transfer document will be part of my Welcome Pack. Should I ever get it that is.

I applied in branch and was refused after they made me get some additional documents (Overseas passport and bank statements).

Then I applied online and got a letter asking for additional identification. 1 item to identify me, i.e. my valid Overseas passport, and 1 item to confirm my address, i.e. 1 bank statement less than 3 month old showing that I have income etc.. So I sent these documents last week and today called them to see how far they got. Now they're saying that I have to supply a second different document to confirm my address.

I'm reluctant to do this as they're own document, A&L Customer identification for Savings accounts, states that they need one item from each group, which I sent to them.

This is just getting more and more annoying - it seems to me that they do whatever they can to not open this account for non-A&L customers. Does anyone else have made the same experience? What is the best way to progress with this? I'm thinking of complaining but don't know to whom. Any ideas?

Thanks for your help, Michael