Author Topic: Somewhat boring but necessary advice for UK readers  (Read 3200 times)


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Somewhat boring but necessary advice for UK readers
« on: February 28, 2012, 10:15:46 AM »
I bet my title choice has got you all inspired!

This is just a quick post for people who currently use Standard Life as their ISA manager.  As you probably know, Barclays bought the savings part of Standard Life, and they will be transferring Standard Life ISAs over to Barclays in May.

As the tax year finishes in April (you know this all already as you're reading MMM), if you want to switch over to a new ISA then it's good to do it now.  Also, anyone who doesn't do it by May will be assumed, by Barclays, to be happy to remain one of their customers.  Obviously you can do it once the new tax year has started, but that will be after you've been switched around by Barclays.

Personally, I hate Barclays (personal reasons, they haven't actually done anything wrong... Apart from the whole tax avoidance thing, but I'm sure all the banks are doing that!).  So, I have a little bit of advice for those looking to leave before the switchover:

Virgin Money have bought out Nothern Rock, and have already launched ISAs.  Well worth a quick browse.  My ISA rate with them will be higher than it was with Standard Life, plus Richard Branson is cool and won't lose my money.  (For those who like to judge banks by more than their bosses, Virgin Money is covered by the FSCS.)

Don't forget to transfer your ISA if you decide to move!  Never cash out and pay in to a new ISA, you'll use your tax benefits!


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Re: Somewhat boring but necessary advice for UK readers
« Reply #1 on: June 11, 2015, 12:21:17 AM »
If I do not do as what it is.