Cant add £3K as havent paid anything into account for 5 years

Middle_Sister

My mother has an ISA with A&L and she tried to put in £3K yesterday but was told that because she hadnt put anything into the account for the past 5 years she couldnt add to it. Has anybody heard of this before?

Where should she put her £3K before 5th Apr now?

newcastlebelle

think you'll find she just has to fill in her details re NI number again to add to the existing isa and confirm she has not put her allowance into another isa this financial year. can top up existing isa then.

RayWolfe

That's correct. If you miss a year, you have to reapply.

Mikeyorks

lesleyfb wrote: »

Has anybody heard of this before?

Yes .... it's 'lapsed'. In theory they should simply open it up again with a basic fresh application, but A&L seem to be a bit odd over that. And seem to require you open a further ISA.

Which is probably not a bad idea .... as she may only be getting 3 - 4% on the lapsed one? So good idea to review the whole thing - open a new one for the £3k and initiate the transfer of the old one, at the same time, to join with the better rate?