ISA saving in br?

[chris.g]

I went to co-op branch today and spoke to them about opening a savings account with them. They suggested an ISA and I'm just a bit worried that this will be ok during br?

[Rachael24]

I dont think you will have a problem. Banks do know what they are talking about. We dont have your specific information, so it is hard to say yes or no...I would trust them though.

[Skippy]

You could check with your OR to make doubly sure Chris.

[wen]

I don't see why the OR would have a problem with an ISA? It's just a type of savings account.

Did the Co-op say you'd be ok with regards to the credit check or your failed attempt with the other savings account.

[chris.g]

I told them that I'd applied online for the smart saver. She said the ISA would be better as it's different criteria. It was referred, which I expected. She said she'd seen lots of ISA's approved for br's and that I should here in a few days.
I suppose it is just a way of saving but just wanted to make sure the OR couldn't claim it---not that there will be much.....lol

[angela18]

failing all else you could save it under your mattress.. interest rates not to good though!![;)]

[chris.g]

haha, I'm afraid I won't save too much that way!!!! [:D]
There's a credit union in Sunderland but I'm just waiting to hear back from them as they said they allowed undischarged br's but I would have to provide mt discharge papers!! [:I]

[angela18]

what harm can a savings account do.. you can't overdraw on it or get credit cards.. I don't get it

[chris.g]

I know, it's been mentioned that the banks may be worried that funds will be hid from the OR....no worries there....I've got my millions in an off shore account!!!!! I WISH!!!!! LOL

[wen]

An ISA is an excellent account at the end of the day, as the interest rate is good... the only thing is you are only allowed to invest a max of £3,600 a year (i wish), and so just remember that if you were transferring money in and out all year round, you may sooner or later hit that £3,600 invest limit, and not be allowed to credit any more funds until the next tax year (regardless of your account balance at the time).

[chris.g]

Oh Wen, I wish I had £3600 to save in a year!!! Sadly I don't [:(][:(][:(] But hey, I'm in good company [:D][:D][:D]
I take your point about it's the max you can save in the tax year. I didn't realise you could only deposit a total of £3600 until I read the info on the co-op site.
All this clart-on just to save some cash! arghhhh...[:(!]
xx

[wen]

You certainly are in good company chris!!!