Setting up the Go T’ Pub ISA

So I thought it would be good to give a quick update on the progress of setting up the Go T’ Pub ISA. As I threw in all the spare cash I had into last years ISA allowance, I can’t afford to put any money in to Go T’ Pub in April, but I can get everything ready.

ISA Provider

So, as I said before, I was expecting to go with Selftrade for my ISA provider for this account. I did indeed go with them as the provider, and started to get things setup. I also really liked this sign outside one a pub I went to a little while ago, and as it’s the Go T’ Pub ISA, I thought this was quite fitting, and time to add the occasional pic in!

First Impressions.

I started setting up the account not long after the new tax year started. The application process was very simple and easy – it took me all of about 10 minutes to setup the account, which just goes to show anyone can have an ISA!

The screens to manage my account are, I will be blunt, rather basic, especially when compared to TD Direct. Does this really matter? For what I am using the account for, no. I don’t need any fancy analysis, I just need to be able to buy monthly, reinvest dividends and that is about it.

I had to validate my bank account details (latest paper statement, voided cheque or an electronic statement). Again very easy to do.

All told it has taken about two weeks to get it setup (although to be fair I wasn’t really pushing to do it quickly, I could have done it a lot faster).

Monthly Investment

I struggled to work out how to get my regular investment setup and ended up calling the helpline. It is there but it isn’t as obvious for a muppet like me. You can fund the account via a regular deposit (note not a regular investment) on the 1st, 15th or 22nd of each month. I have my direct debit set to come out on the 1st of each month so it is out of my bank account as fast as possible.

There is only a single day of the month where the regular investments are made, the 24th of each month and you can’t change this. As such, I can’t set this up until after the 24th of April, so something for next weekend. This means the first regular purchase will be the 24th May – later than I would like but hey ho, that’s just the way the timing goes.

Transfer of Cash ISA

The next part was to transfer 50% of my cash ISA over to Selftrade. I eventually found the form (it’s not obvious it was in the main site, not anywhere within your account as I had expected), downloaded and printed it out.

I then bought a new ink cartridge, replaced the one in the printer, and printed it out again. This did delay things a bit. Note to self, I need to make sure I have a spare printer cartridge at home. The form was very easy to fill in (although it asked about stocks), but filled it in I have, and I have sent it off to start the transfer process. Posted today (20th April), so lets see when the funds appear in the account. I have given the Selftrade part the bonus penny on rounding when I split the ISA 50/50 as it had an odd number of pence in.

Again, all very straightforward. I am super excited on this part (yes, maybe I am a little sad) – I have not only identified the Investment Trust I will be investing in, but also I did a quick calculation. The full whack in the Cash ISA was generating less than 10p a month in interest. I worked out that with the quarterly dividend, I should be getting a good Β£15 a month in the S&S ISA.

NOTE: This is not a recommended approach for your emergency fund. If this is your only emergency fund, and you are thinking of doing the same, don’t. If you want some sense of risk and adventure then go and live with a troop of baboons.

Where we are

So, where does that leave the Go T’ Pub ISA?

  • The Cash transfer is in progress, and will be deployed as soon as it hits my account
  • The direct debit to fund my ISA is setup and will kick in on the 1st of May
  • I still need to setup the monthly investment at the end of this month (post 24th April)

After that? Well, I guess I can sit back, forget about it and enjoy that rather nice bottle of wine I have my eye on.

Of course, I will have to update all my tracking spreadsheets, and this blog, with the progress they are making, but that shouldn’t be too hard!

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Author: fireinlondon

Fighting the high cost of living in London

5 thoughts on “Setting up the Go T’ Pub ISA”

    1. Hi MSM,
      Good to see you again! Yes it is making progress but far slower than I would have liked, but then ideally I would have liked it all setup by the 7th April (one day into the tax year) – so I know I have to be patient. Waiting until almost the end of May for the first regular purchase hurts, but hey ho, that’s life! As you say, once it is there, it will start (and continue) to roll on!
      Cheers,
      FiL

      Liked by 1 person

  1. Haha, love that sign, although since shopping isn’t one of my favourite things to do (I guess I’m an ‘atypical female’!), I’d probably want to stop off in the pub too! πŸ™‚ Good luck with the the Go T’ Pub ISA!

    Like

    1. Hi Weenie,
      Yes – I couldn’t resist taking a photo (ok, and popping in for a pint!). Yes – that definitely makes you unusual on the shopping front, I have to say I hate it, I start to twitch if I have to go into a mall!
      Cheers – it is starting to come together πŸ™‚
      FiL

      Like

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