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New A&L ISA, forced to close exisiting one
gakochan
Posts: 64 Forumite
Hi everyone
I recently opened an A&L Direct ISA Issue 4 for 07-08.
I have an existing 05-06 A&L ISA.
On the phone to A&L just now, they said that before I can put up to my max £3000 into the new 07-08 ISA, they MUST transfer the full current value of my 05-06 ISA into the new 07-08 ISA. It so happens I wanted to do this anyway, but why "MUST" it happen? Surely if I wished to, I could leave the 05-06 ISA operational?
If this is a stupid question, my apologies!
Many thanks for any views,
gakochan
I recently opened an A&L Direct ISA Issue 4 for 07-08.
I have an existing 05-06 A&L ISA.
On the phone to A&L just now, they said that before I can put up to my max £3000 into the new 07-08 ISA, they MUST transfer the full current value of my 05-06 ISA into the new 07-08 ISA. It so happens I wanted to do this anyway, but why "MUST" it happen? Surely if I wished to, I could leave the 05-06 ISA operational?
If this is a stupid question, my apologies!
Many thanks for any views,
gakochan
Wins: Underpants, Rizla vending machine, Grand Prix tix, T-Shirt & cap, Brands Hatch tix, tanning fluid, pen, food voucher, Manchester Town Hall tour, Flahavan's Oats, Rexel stapler, canvas photo, egg cup, calendar, The Fall tix. Thanks everyone
0
Comments
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seems odd - there shouldnt be a connection
is the interest rate in the 05-06 ISA lower ?0 -
Hi everyone
I recently opened an A&L Direct ISA Issue 4 for 07-08.
I have an existing 05-06 A&L ISA.
On the phone to A&L just now, they said that before I can put up to my max £3000 into the new 07-08 ISA, they MUST transfer the full current value of my 05-06 ISA into the new 07-08 ISA. It so happens I wanted to do this anyway, but why "MUST" it happen? Surely if I wished to, I could leave the 05-06 ISA operational?
If this is a stupid question, my apologies!
Many thanks for any views,
gakochan
Why wouldn't you want to transfer from your old isa (presumably issue 3) since issue 4 gives you a much higher interest rate - albeit a bonus for only 1 year till 2009?
fj0
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