Cash ISAs: The Best Currently Available List

steady__eddie wrote: »

Is it possible to simply transfer an existing ISA into them or do I need to open one for this year with them before I can transfer an existing one in ? (not an option for me has I am already fully subscribed for this year). I've read their T + Cs but I can't find an answer.

You can transfer in - that's clear enough:

Transfers of previous ISA subscriptions from other institutions are accepted

If you specially wanted to transfer this year's cash ISA (already subscribed) - an 'in-year' transfer - this ought to be possible - if only because current year should not be any more restrictive than previous years.

But the wording they use:

if this is your only Cash ISA for the current tax year 2010/2011

does seem to dis-qualify an in-year transfer of this kind because this new account is not then "your only" 2010/2011 ISA, is it?

(But that wasn't what you actually said you wanted to do was it?)

To sum up: You don't need to 'pre-open' and are not required to use your 2010/2011 ISA allowance to fund this account. You may 'open-by-transfer' of previous years subscriptions from any single or any combination of ISA providers - only subject to the issue remaining open in the meantime.

I would say you just need to check with them if any application for transfer made whilst the issue is open will always be honoured- even where the funds have yet to arrive on the date they close the issue.

I think I'm missing something. I may be emigrating to New Zealand in late 2012 (less than 2 years from now) and have some ISA money to transfer. Clearly the 4 year term ISAs have the highest interest rates and can be closed early with a penalty.

If I were to transfer into a 4 year fix somewhere that permits closure with a 180 day interest penalty, would I still receive the 4 year interest rate less the 180 day penalty? Or, would the interest added be equivalent only to their lower 1 or 2 year rate and still with the 180 day interest penalty added instead?

Help appreciated, ta

Mr_K wrote: »

the potential loss of interest and hassle of changing accounts each year.

It's the curse of the interest-rate aware....
I prefer checking things over once or twice a year to suddenly noticing that my annual interest has dropped from a few hundred to about £20 (Didn't happen to me... a friend of a friend)

I'm quite chuffed that the accounts we opened this year still look pretty good considering we're only tied in for a year AND we were able to transfer several years' subscriptions in. Without having at least a quick shop around we'd never have stumbled across that deal.

With the 4 yr fixed ISAs, is the rate qoted the same for each year?
ie, halifax is 4.25 for 4 years,
but on their site it says
Term Interest rates (AER) effective from 0.00am on 10th September 2010
1 year £500+ 2.00%
2 years £500+ 2.85%
3 years £500+ 3.35%
4 years £500+ 4.25%

So does that mean that yr 1 is at 2%, yr 2 at 2.85% etc.