A&L Direct ISA issue 4.. questions.

nixinix

I'm also considering this ISA - are there any small print issues I should be aware of, i.e. penalties for transferring out? I have read the t&c but am worried I may have missed something.

thanks

Jumping_Bean

Baldur wrote: »

As per espresso's post (above) - the transfer process opens the account...;)

Also, in the above link it says: "You must open a Direct ISA before transferring existing ISA funds"

Presumable this means that the account does have to be opened first and then the transfer made, rather than all in one.

Am I missing something?

Baldur

Jumping_Bean wrote: »

Also, in the above link it says: "You must open a Direct ISA before transferring existing ISA funds"

Presumable this means that the account does have to be opened first and then the transfer made, rather than all in one.

Am I missing something?

If you either print & take the completed form into a branch or go to a branch and explain what you want to do, the ISA account is opened as part of the transfer process.

boobbby

espresso wrote: »

Read this here

How do you put the hyperlink into the reply ?

Jumping_Bean

Copy the address from the top of your browser and paste it into the reply.

Or you can click the insert link button at the top of the reply field.

espresso

boobbby wrote: »

How do you put the hyperlink into the reply ?

Tutorial with pictures here.

fimonkey

Baldur wrote: »

If you either print & take the completed form into a branch or go to a branch and explain what you want to do, the ISA account is opened as part of the transfer process.

.... I thought it couldn't be opened in a branch? I called and asked about this and they said just return the form by post along with section 10 giving details of the ISA you want to transfer, and it's all done as one. .... But there's a past on the transfer form that wants account number of new NS&I ISA

Will call them again tomorrow and post answer here.

Baldur

But there's a past on the transfer form that wants account number of new NS&I ISA

Of course there is, they can hardly transfer an ISA which doesn't exist (i.e. have a an account number).

shopndrop

Is there a maximum amount that can be transferred into the Direct ISA? I seem to remember reading somewhere on these forums that there was a maximum tranfer amount of £9000 but I can't find it now. Can anyone please confirm?

Baldur

shopndrop wrote: »

Is there a maximum amount that can be transferred into the Direct ISA? I seem to remember reading somewhere on these forums that there was a maximum tranfer amount of £9000 but I can't find it now. Can anyone please confirm?

No limit on the A&L Direct ISA - the £9,000 refers to the amount which you MUST have in the ABBEY Direct ISA (which can be transfers or transfers & new money) in order to receive the 5.5% rate after their 13 month 'preferential variable rate' finishes - any lower balances only receive 4.75% at that time.