Intrest to be paid where??? (icesave)

cundall

Hi,

I am going to transfer my current cash mini isa's into either A&L or Icesave...

I know A&L have a rate of 6.25% (seems to be the best rate) though Icesave's is only 6.1% which i around £4.5 a year difference (is this correct?). Anyway as i currently have savings with Icesave i was thinking of keeping it all in one place as its nice and easy that way (unless the difference is a lot more than £5). The question i wanted to ask you is that during the sign up process for Icesaves Isa they ask when you want the interest paid (annually) though they also asked where you wanted it paid too...

I wanted the interest to be kept in the Isa so it remains tax free though it only gave me the options of my current Icesave account and my linked account, is this correct?

Can someone please try and help me.....

Thanks

Chino

10_66

You must be allowed to have your interest credited back into your ISA. Their FAQ page (under Easy Access ISA - General) says you can have your interest paid either back into your Easy Access ISA, your Easy Access Savings account or your linked current account. Are you sure you weren't offered that option when you tried opening you ISA?

http://www.icesave.co.uk/easy-access-isa-questions.html

Paul_Herring

The dropdowns on the Icesave website aren't too clear. Normally when presented with dropdowns elsewhere they are 'preselected' with an option that says 'Please Select...' or similar, indicating that the default selection is not a valid option and you must select another from the dropdown.

Icesave's default to 'This account' which is what most people want, but I think some people (me included initially) read this as 'select another option in this list' without realising that 'This account' is a valid selection for this option.