E-ISA Accessible and operate able from abroad

meatandtwoveg

Hi,

I am maybe planning on doing a bit of travelling soon, I was maybe planning on opening a Nationwide two year fixed rate bond, good rate, safe, back date interest on transfer, track it over the net online, pay money in online.

But you cannot withdraw money online. So you must walk into the branch to take money out, so if you are having a year in say New Zealand, it becomes an expensive trip and a long trip? If you decide to settle somewhere long term, you have to return back to the UK just to withdraw or close your ISA, I am looking for a way around this problem, just in case.


My question is; could anyone advise on a cash ISA, where you can;


1. Have an address abroad, so operate either over the phone and/or over the internet.
2. The institution allows you not to have a UK address.
3. A good rate of interest
4. Maybe back date interest from closing your original ISA, similar to what the Nationwide will do, so you do not lose any interest.

Thanks.

tradetime

2. The institution allows you not to have a UK address.

Just one thing springs to mind, you must be resident in the UK to open an ISA I believe and therefore they expect you as a UK resident to have a UK address. Many of the best interest deals you will see doing a normal search of the home banking industry will also require to be a UK resident and as such have a UK address.
Suggestions might be that if you are not keeping a property on here while you travel, you register for the accounts using a relatives address.

meatandtwoveg

Yes, you would open it prior to leaving the UK, so have an address in the UK when opening, but once you left the UK, you will no longer have a UK address. Norman Bates no mates with no rellies you can rely on?

http://www.principality.co.uk/default.aspx?page=607

http://www.krbs.com/directisa.aspx

http://www.ybs.co.uk/savings/online/eisa/index.jsp

The best three i found with instant access, but can you have these accounts open when you only have an address abroad.Anyone know?

Also, do any of them back date lost interest on the transfer process? Similar to the Nationwide.

Thanks.

Baldur

meatandtwoveg wrote: »

but can you have these accounts open when you only have an address abroad.Anyone know?

See HERE

Moving abroad

You can only subscribe to an ISA if you are resident and ordinarily resident in the UK for tax purposes. Overseas residents are not eligible to apply for an ISA. If you are unsure about this, call our Centre for Non-Residents on

• 0845 070 0040 (UK) or
• 44 151 210 2222 (from abroad).

If you cease to be a UK resident while you already have an ISA open, you will no longer be able to put money into it. However, you will still be able to keep your ISA open and you will still be entitled to the tax benefits on investments held in the ISA. If you then return to be UK resident and ordinarily resident, you can start putting money in again."

meatandtwoveg

Scenario,

ISA already open prior to leaving the UK.

Do not want to pay money into ISA

But would like to operate ISA from abroad, so take money out or close ISA via either a cheque or BACS, so not having to return to the UK.

Thanks.

[Deleted User]

If your moving abroad your probably best opening a account in the country your living in.

New zealand have higher interest rates and thus higher returns on any savings.

meatandtwoveg

Yant1 wrote: »

If your moving abroad your probably best opening a account in the country your living in.

New zealand have higher interest rates and thus higher returns on any savings.

Yes, but say you moved to another country, then returned in say 2 years, you would not want to lose your tax free account if you returned. You cannot pay money in while you are away, but you can take it out and close the account while you are away and add money on your return to the UK.

Baldur

meatandtwoveg wrote: »

You cannot pay money in while you are away, but you can take it out and close the account while you are away and add money on your return to the UK.

If you close the account it ceases to be an ISA, how can you add money to a non-existent account on return to the UK? You would have to start from scratch with a new ISA.

meatandtwoveg

Baldur wrote: »

If you close the account it ceases to be an ISA, how can you add money to a non-existent account on return to the UK? You would have to start from scratch with a new ISA.

That is the point of this thread, it is not an option to close the ISA on leaving these shores? It would remain open.


Hi,

I am maybe planning on doing a bit of travelling soon, I was maybe planning on opening a Nationwide two year fixed rate bond, good rate, safe, back date interest on transfer, track it over the net online, pay money in online.

But you cannot withdraw money online. So you must walk into the branch to take money out, so if you are having a year in say New Zealand, it becomes an expensive trip and a long trip? If you decide to settle somewhere long term, you have to return back to the UK just to withdraw or close your ISA, I am looking for a way around this problem, just in case.


My question is; could anyone advise on a cash ISA, where you can;


1. Have an address abroad, so operate either over the phone and/or over the internet.
2. The institution allows you not to have a UK address.
3. A good rate of interest
4. Maybe back date interest from closing your original ISA, similar to what the Nationwide will do, so you do not lose any interest.

Thanks.

bryanb

You can't withdraw from a Nationwide 2yr fixed bond for 2 yrs!

Baldur

meatandtwoveg wrote: »

That is the point of this thread, it is not an option to close the ISA on leaving these shores? It would remain open.

I wasn't querying the thrust of the thread, just your confusing wording in the particular post which I quoted.