Upgrading ISA at Alliance and Leicester

catkins79

Hi all,


I have an Issue 2 A&L cash ISA. when I spoke to customer services yesterday they offered to upgrade me to issue 4 (a jump in interest from 4.75% to 6.2% I think they said).

Apparently all I have to do for this is to have an appointment at a branch.

Is there any catch in doing this?


Thanks,

Catkins

debbie42

You can do it all online without an appointment. Just apply for a new ISA then request a transfer from the existing one. I can't imagine why you'd not want to transfer the funds as the old rate is so naff! In theory it should be quicker than a transfer from another provider.

I say "in theory" as I'm a couple of weeks into the process, and the funds haven't transferred as yet. I'll let you know how it progresses.

melancholly

i went into the branch and did all the forms there. i did have to show my driver's licence as well. the new one was openned within about 48 hours and showed up on my online banking. the money transferred within 3/4 days - i was actually impressed at how quickly they did it.

wooders

Where does the 6.2% come from?? it was 6.25% and it reduced to 6% recently