Is this First Direct ISA any good?

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Comments

  • ScoobyZ
    ScoobyZ Posts: 487 Forumite
    Photogenic First Post First Anniversary
    edited 20 July 2014 at 5:32PM
    ScoobyZ wrote: »
    New Lower Rates from 16th October!:

    £1 - £14,999 - 1.3%
    £15,000 - £29,999 1.4%
    £30,000+ £1.5%

    I will be moving mine :/

    Mr_K wrote: »
    Where to ? Is there a better paying cash ISA with instant access ?

    Yes.

    BM Savings 1.55%: http://www.bmsavings.co.uk/savings/isa-savings/?WT.mc_id=101582171|274969475|0


    1.5% on £1+ balance virgin and halifax for one instead of the £30,000 requirement for 1.5% for First Direct.

    or moving to Current accounts paying 4%-5%

    Also Leeds 2.85% loophole if you can leave in a couple of years or only partial withdraw:

    http://www.moneysavingexpert.com/savings/best-cash-isa#manipulate
  • Sitbh
    Sitbh Posts: 32 Forumite
    deutsch wrote: »
    Might as well just put some of it into Santander's current account. I'd probably be better off.

    Disappointed at this though, just only moved to FD.

    Same boat. Moved to them a few months ago, just secured my £100 switch reward. Might have to look into jumping ship for another reward to Santander current account. Better interest return and benefit of cashback per month.
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    On the First Direct Cash ISA. BUM.


    Took about a year and the £15k new limit to get to £40k, and then got the 1.5% letter TODAY.


    Nationwide's Flexclusive ISA Issue 6 is paying 1.75%. If I had know First Direct was going to do this, I could have started a Flexclusive ISA last tax year, and I could have about £20k in it by 1st July 2014, earning 1.75%.


    Flexclusive ISA wants NEW money only, NO TRANSFER IN! Arrrrgghh!
  • Byronpen
    Byronpen Posts: 1 Newbie
    I have also had the letter from First Direct.
    It is a pity that the Most Loved Bank in the country has decided to join the pack of unscrupulous bankers.

    Their introductory ISA Rate was competitive and has clearly drawn customers to transfer from other banks. Now that ISA's have become NICA's the rate has been slashed in anticipation that most of us will be too lazy to switch again.

    I have decided to move all my banking shortly and have advised them accordingly.

    How more Greedy can the Bankers get?
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