Abbey ISA vs A&L ISA

TomsMom

soulandy wrote: »

We had a postal ISA with the abbey for a couple of years but transfered it all to the cheshire last year with no penalties. I was going to go with this one this year but looks like I might have to re think.
Cheers for that

Why rethink? Kiki has corrected her original post. Clause 9.1 and 9.2 referred to the Choices ISA. The Direct ISA has no penalty.

born_again_saver

Having looked at opening these accounts, it would appear that Abbey require you to send in copies of your ID. I can find no reference to Alliance and Leicester needing you to do this.

Is this correct? If so, I would say the A&L is marginally better, purely for taking less effort to open, as you don't have to faff around with posting off photocopies.

PBA

KiKi wrote: »

If you read the T&Cs you'll see that the Abbey one has a high penalty for transferring out or withdrawals. That's why the A&L one is better.

KiKi

Uh, no. There is definitely no charge for transferring out from Abbey's Direct ISA. Choices ISA is a fixed rate ISA that hasn't been on sale for a couple years now, but some peope still have them (the term was up to 4 years) so the T&Cs still exist for them.

TomsMom

PBA wrote: »

Uh, no. There is definitely no charge for transferring out from Abbey's Direct ISA. Choices ISA is a fixed rate ISA that hasn't been on sale for a couple years now, but some peope still have them (the term was up to 4 years) so the T&Cs still exist for them.

If you read further down the thread you'll see that Kiki has already corrected herself.

panther

macgyver wrote: »

I applies online to Abbey about a week back but havent heard anything yet, not even an e-mail!!!

I don't know about Abbey but A&L allow you to make the first deposit at a branch within 7 days of opening the ISA. Applied last week for my dad and received the ISA account number via email so now off to the local branch with 3.6k.

houmie

I have applied for transfer in my existing ISA's to A&L. After 1 month nothing has happened and they claim they have a high stack of requests to go through. What if they have never received the letter in first place? I wished I had sent it as recorded delivery.

Maybe I should go with Abbey after all. Anyone did a transfer in for existing ISA's to them and like to share the experience?

Thanks

Baldur

I've transferred ISA funds to both A & L and Abbey in the past year or so and they were about the same for the initial transfer, however Abbey took nearly 3 months for a subsequent transfer request (which they allegedly didn't receive in October, then found in December - not even a busy period in the ISA calendar.

Personally, I wouldn't touch Abbey if you want to retain your sanity.

houmie

Baldur wrote: »

I've transferred ISA funds to both A & L and Abbey in the past year or so and they were about the same for the initial transfer, however Abbey took nearly 3 months for a subsequent transfer request (which they allegedly didn't receive in October, then found in December - not even a busy period in the ISA calendar.

Personally, I wouldn't touch Abbey if you want to retain your sanity.

hmm oh yeah, I remember now how long it took me to open a current account with Abbey. Nearly 2 months!! I thought maybe everything went wrong in my case what could go wrong. Or maybe it was not a one time thing after all.

What should I do, send the letter again to A&L? But then nothing will be backdated. If they find my letter, i wont loose interest they said...

Baldur

houmie wrote: »

What should I do, send the letter again to A&L? But then nothing will be backdated. If they find my letter, i wont loose interest they said...

A month isn't long at this time of year, judging by the many posts on these boards about ISA transfers - see the Barclays & Lloyds TSB threads. Have you spoken to their Direct ISA department on 08703 333 444?

I'm still waiting for LTSB to sort out some funds which I transferred to them on 5th March (which seem to have disappeared, despite them sending me a letter of receipt) and a friend has been waiting since 4th April for Nationwide to sort out transfers.

houmie

hmm maybe i should wait after all.

Thanks for sharing your experience.


Regards