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Abbey launch new 5.75% mini cash ISA
Kazza242
Posts: 2,203 Forumite
Abbey have launched a new mini cash ISA paying 5.75% interest on balances of £9,000 and above. For those with balances from £1 - £8,999 the rate paid is still competitive at 5.50%.
The isa is available to new and existing customers (who wish to transfer existing isa savings into the Abbey isa) and comes with a cash card to help savers who wish to make occasional withdrawals. The account offers instant access to funds via the post, telephone, ATM or online.
More details here.
The isa is available to new and existing customers (who wish to transfer existing isa savings into the Abbey isa) and comes with a cash card to help savers who wish to make occasional withdrawals. The account offers instant access to funds via the post, telephone, ATM or online.
More details here.
Please call me 'Kazza'.
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Comments
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Kazza242 wrote:Abbey have launched a new mini cash ISA paying 5.75% interest on balances of £9,000 and above. For those with balances from £1 - £8,999 the rate paid is still competitive at 5.50%.
The isa is available to new and existing customers (who wish to transfer existing isa savings into the Abbey isa) and comes with a cash card to help savers who wish to make ocassional withdrawals. The account offers instant access to funds via the post, telephone, ATM or online.
More details here.
Thanks for that. That seems like quite a good deal. Am with A&L and their Direct ISA 2 at the moment, but once the bonus finishes I will drop from 5.7% down to 5%, and with no sign of them launching a competitive ISA Abbey may be the best bet for me0 -
I am in a similar boat to you. I intend to transfer from Halifax (5.30%). I was going to transfer to YBS at 5.65%, but I think I'll hang on and see what other ISAs launch over the next few weeks. The Abbey isa is very tempting, I will transfer there if nothing better is launched.Please call me 'Kazza'.0
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Kazza242 wrote:I am in a similar boat to you. I intend to transfer from Halifax (5.30%). I was going to transfer to YBS at 5.65%, but I think I'll hang on and see what other ISAs launch over the next few weeks. The Abbey isa is very tempting, I will transfer there if nothing better is launched.
I transferred to YBS a couple of months ago after many years at Abbey !0 -
Gambler wrote:I transferred to YBS a couple of months ago after many years at Abbey !
Yes, I seem to recall you had the Abbey postal ISA (?) and you had a bit of a 'mare dealing with them. I have a regular saver with them at the moment and have dealt with them since 2004 without any problems (yet!). I'm seriously thinking of transferring to this isa and opening my new 2007/08 isa with NS&I.Please call me 'Kazza'.0 -
Kazza242 wrote:Abbey have launched a new mini cash ISA paying 5.75% interest on balances of £9,000 and above. For those with balances from £1 - £8,999 the rate paid is still competitive at 5.50%.
I think the rate includes a 0.50% bonus which runs until May 2008. The Times mention it in their article here. Still, I'd probably be looking to transfer again around the 2008/09 tax year anyway.Please call me 'Kazza'.0 -
I am seriously thinking about opening the Abbey ISA so if anyone knows about any shoddy customer service of theirs or difficulties opening an ISA with them, please let me know now! (Or forever hold your peace, LOL)Reclaimed thanks to this site:
£175 Abbey Mortgage Repayment Fee, £170.03 Capital One Bank Charges £418.07 Lloyds TSB Bank Charges, £2,671.55 Mis-sold Endowment Policy, all for OH0 -
Right, no bad words about Abbey, interesting.
Anyway, does anyone know whether this ISA has a fixed or a variable rate? I don't seem to be able to find that information on their website, and their telephone system is overrun with calls which is why they don't answer the phone anymore - all they let you do is leave your name and address on an automated system for an application pack.
I was just thinking that with the possibility of the BoE rates going up again soon, a variable rate linked to the BoE rate would be a better option. What do you guys think?Reclaimed thanks to this site:
£175 Abbey Mortgage Repayment Fee, £170.03 Capital One Bank Charges £418.07 Lloyds TSB Bank Charges, £2,671.55 Mis-sold Endowment Policy, all for OH0 -
The rate is variable and includes a variable 0.50% bonus until May 2008.
The really good thing about this Abbey isa is this:Rates are guaranteed to match any increase in the Bank of England base rate until 1 May 2008.
If BOE base rate does go up you won't be left wondering whether Abbey will pass on the increase to your isa.Please call me 'Kazza'.0 -
Oh good, thanks! No wonder they are overrun...Reclaimed thanks to this site:
£175 Abbey Mortgage Repayment Fee, £170.03 Capital One Bank Charges £418.07 Lloyds TSB Bank Charges, £2,671.55 Mis-sold Endowment Policy, all for OH0
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