Bradford and Bingley ISA

johnny37 | 15:13 Mon 19th Mar 2007 | Personal Finance

2 Answers

B&B have a new (issue 7) ISA paying 5.9%, I'm not allowed to switch my existing 5.5% ISA into this new product. I can, however, withdraw �3k now and use the funds to open the new ISA and then withdraw another �3k in April and pay it into the new ISA.

Barmy or what? Why do they make us play musical chairs instead of allowing a direct switch?

Yeah, I know there are higher rates, Barclays for one, 6.5%.

Shares into an ISA

High interest accounts

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dzug

Cos they actually want you to put new money in, not transfer. So they make it as difficult as they can - which in this case is not very.

johnny37

Question Author

After some research I'm considering taking the money and putting in Aliiance and Leicester at 8.1%. Again, no switching allowed but you can withdraw �3k from your existing ISA to fund the new account and then again in April.

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