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Post by GSV3MIaC on Apr 1, 2016 7:31:22 GMT
Haven't said if we will need a new email address to operate under yet though. That was a concern for some folks.
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SteveT
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Post by SteveT on Apr 1, 2016 7:40:23 GMT
Haven't said if we will need a new email address to operate under yet though. That was a concern for some folks. Their latest FAQs suggest maybe a new email address won't be needed: " FAQs/FAQs for Investors/Innovative Finance ISA
Will I have to create a new Funding Circle account to open a new ISA?
Existing investors will be able to create an ISA account by logging into your existing account. Once signed in you’ll be able to open a new Funding Circle ISA account by following the instructions on your summary page. We will provide more information about opening an account over the next few weeks.
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blender
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Post by blender on Apr 1, 2016 9:49:56 GMT
Thanks SteveT, had not noticed. Maybe we will be able to transfer available funds between accounts?
All hypothetical because the FC ISA will not be available, at least for April, I interpret. Maybe we could play with some dummy accounts while waiting.
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fasty
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Post by fasty on Apr 1, 2016 23:11:49 GMT
Thanks SteveT, had not noticed. Maybe we will be able to transfer available funds between accounts? All hypothetical because the FC ISA will not be available, at least for April, I interpret. Maybe we could play with some dummy accounts while waiting. I seem to recall our Friendly Chums uttering that it would be necessary to transfer money out to move it between normal and ISA accounts, i.e. simple transfer between accounts would not be possible. Of course, this may simply have been the product of my over-active imagination.
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blender
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Post by blender on Apr 2, 2016 8:01:41 GMT
Thanks SteveT, had not noticed. Maybe we will be able to transfer available funds between accounts? All hypothetical because the FC ISA will not be available, at least for April, I interpret. Maybe we could play with some dummy accounts while waiting. I seem to recall our Friendly Chums uttering that it would be necessary to transfer money out to move it between normal and ISA accounts, i.e. simple transfer between accounts would not be possible. Of course, this may simply have been the product of my over-active imagination.
Your recollection is correct, but I thought with the extra time it may be possible to link accounts. It seems silly to have to move it via the bank.
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SteveT
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Post by SteveT on Apr 2, 2016 8:15:16 GMT
I seem to recall our Friendly Chums uttering that it would be necessary to transfer money out to move it between normal and ISA accounts, i.e. simple transfer between accounts would not be possible. Of course, this may simply have been the product of my over-active imagination.
Your recollection is correct, but I thought with the extra time it may be possible to link accounts. It seems silly to have to move it via the bank. If they're now planning to have ISA and non-ISA accounts hung off the same log-in, it would be bizarre not to permit transfers (of cash) between the accounts. There's no regulatory issue (I do the same regularly between my TrustNet Direct accounts) and it would simply incur extra work and cost for Fumbling Cash to process all the withdrawals manually and then pay debit card fees again for the reinvestments.
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Post by GSV3MIaC on Apr 2, 2016 13:50:39 GMT
Doubtless there is a lot of work involved in hanging ISA/Non-ISA off the same login .. at some point you are going to have to opt for A or B (remember right now they can't even apply transfers to the right account unless you manually log out), and maybe at "a lot of points" (worst case every time you bid, or buy, or sell, or ask for account balance). I look forward to seeing what sort of dogs-dinner they come up with. 8>. Even HL who offer this sort of functionality can get into a bit of a knot if you start from 'search for security', and then hit 'buy', without considering how you got there.
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