Opening new halifax ISA to transfer First Direct

monki_man

perhaps logging into the first direct and printing out the account details? I'm going to have a crack at this today but if i remember from previous post, halifax backdate the interest.

FL

monki_man wrote:

perhaps logging into the first direct and printing out the account details? I'm going to have a crack at this today but if i remember from previous post, halifax backdate the interest.

I have just spoken to a very helpful person at the Halifax and he has advised me that they will accept a print out of the statement online. panic over.

Stuart_Kirk

A little while ago I emailed First Direct to check the rate after 6-10, or that was when I thought the deadline was. The reply came back (I only just read it today) that the account earnt 6.25% until 16th Aug 05! Anyone else experienced this or is this just a customer services error?

I'm presuming the Halifax ISA that people are talking about it the best to transfer to now?

Fugitive

What a great site !

I came on to find out where to transfer my First Direct account and it's all here already.

Thanks guys

YorkshireBoy

Stuart_Kirk wrote:

I'm presuming the Halifax ISA that people are talking about it the best to transfer to now?

It tops the best-buy tables* for no catches "stakeholder" ISA's along with sister company BOS. B&B is a close second, but you have to maintain a £1K balance. Also, the B&B limit is £21K, whereas Halifax/BOS is £30K.

* Check out the tables at https://www.moneyfacts.co.uk

JEC

Stuart_Kirk wrote:

A little while ago I emailed First Direct to check the rate after 6-10, or that was when I thought the deadline was. The reply came back (I only just read it today) that the account earnt 6.25% until 16th Aug 05! Anyone else experienced this or is this just a customer services error?

I'm presuming the Halifax ISA that people are talking about it the best to transfer to now?

I seem to remember the rates got cut then. We still get a bonus over the base account , but not as much overall.

FL

JEC wrote:

I seem to remember the rates got cut then. We still get a bonus over the base account , but not as much overall.

The rate on the ISA was fixed until 6-10 at 6.25% so the cut on the base rate did not effect us. After that my understanding was that the rate would be 4% significantly under the base rate. They have a variable ISA product and a new fixed rate out as well. My advice is transfer out - you can do alot better.

Lychee

FL wrote:

By the way I went into my branch today to fill in an ISA transfer form as they forgot to post one to me with my original application. The branch then advised me I need to show evidence of the ISA before they will send the form off - so please make sure you have this information when you go to the branch....
...Unlikely to really see any transfer until the end of the month. I am now trying to determine what is suitable evidence as I can't remember receiving a statement or passbook of the account...

Fortunately for me, the Halifax branch I went into did not insist on evidence of an ISA. It was requested but the lady was OK with just my details written on the back of a used envelope! :P

This was 10 Sep, FD account was closed on 29 or 30 Sep, money finally appeared in Halifax account on 7 Oct but back-dated to 1 Oct.

FL

Lychee wrote:

Fortunately for me, the Halifax branch I went into did not insist on evidence of an ISA. It was requested but the lady was OK with just my details written on the back of a used envelope! :P

This was 10 Sep, FD account was closed on 29 or 30 Sep, money finally appeared in Halifax account on 7 Oct but back-dated to 1 Oct.

Looks like I have got a long wait then if it takes them that long. You are more organised than me.

oldagetraveller

I contacted Bradford & Bingley, by e-mail, last week to enquire about transferring an existing mini cash isa to them. I have invested max. £3000 this tax year and the isa was opened last tax year by transfer from elsewhere and I have not opened an isa this year.
B & B advised that because an initial cheque deposit was required to open their isa and I had already invested max. this year a transfer was not allowed. This seems crazy to me unless it is a B & B requirement (not checked their T & C's) as surely the transfer should be sufficient to open the account?
Any thoughts on this?

Apologies. Just checked B & B site, which I should have done in the first place! :rolleyes: They state that once opened, transfers can be made to their isa. However to open the isa a minimum £1000 is required, so the e-mail reply is correct. So it's a no win situation, an account cannot be opened if full allowance has been used this year (they need £1000 min. to open account) and a transfer can only be affected after account is opened.
They must be losing potential customers because of this rule?