ISA Accounts!

[inafix]

Hi Guys,I have opened an isa account with Santander online,I have an account number from them saying that it is up and running,the problem is my wife says thier as been a lot of problems with Santander and I should not deal with them.My question is can I now go to another company and open an isa with them?I have not put any money into Santander yet.

[factor-fiction]

I don't like the way they are taking over the high street but I have found them quite helpful. There is no reason I'm aware of to stay clear of them

[Sipowicz]

How can you open an account without depositing any money?

[factor-fiction]

Yes you can open another, but if there is any money in there from a transfer you'll need to do another transfer to another bank. But I'd just go for the best deal- Santander is no worse than any other bank

[ubasses]

They have pretty awful swrvice but no other reason not to deal with them. They are registered with the UK compensation scheme so you are fully protected.
Now your ISA is up and running with account number it is now registered so no you cannot go and open another one elsewhere. You can however transfer your account to another provider as the registration for tax free status will go with it, I do not inow what problems will be created if it does not actually have any money in it.

[factor-fiction]

We may have confused things here - you can have more than one ISA but you can contribute to only one in any given tax year.

[Sipowicz]

You can only open one ISA per tax year. If as you say the Santander one is registered and up & running, you can't open another. ( I still don't understand how you managed to open an account without depositing any money!)

[inafix]

Thanks guys,I have called the company up and cancelled the account.

[boxtops]

Well, that's all right then. Personally I don't like Santander - nothing to do with their products, I think their customer service is dreadful.