Tesco Savings DDs

NoodleDoodleMan wrote: »

Right, I think I see what you are getting at.

An existing pre 2018/19 ISA can't be funded retrospectively - even it didn't reach it's maximum level.

That never crossed my mind until now.

No doubt Santander will reject.

No, it's perfectly OK to put new money into an old ISA (assuming it's not a fixed-term product that's already matured), although it'll need to be reactivated. It doesn't matter if it has more than £20K in it, as that's an annual allowance.

However, the point is that by feeding 2018/19 money into an old Santander cash ISA, this means you can't also put any 2018/19 money into any other cash ISA during this tax year, as the rule is that you can only pay new money into one ISA of each type in any given tax year (although some other providers offer a split ISA facility as a workaround to this). This is sometimes misquoted as only being able to open one ISA of each type in any given tax year but that's not the case....

ColdIron wrote: »

I think the only way to do it is by phone. It's easy and doesn't take long

This.

I phoned last month to close no less than five superfluous accounts and according to my phone log, the call was less than five minutes!

Roseanne1 wrote: »

I was looking at the Santander Esaver and don't see anything there about making deposits by DD, only standing order, one off transfer etc. How are people getting the DD set up, is there a form to download?

This form works and I've just successfully used it to fund a eSaver.