Cash ISAs: The Best Currently Available List
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Credit unions are, generally, pretty dodgy. But the daft "levelling up" of the FSCS means that it is no riskier than investing in a blue chip bank or building society.Our local credit union, Castle and Crystal is currently offering 5.25% on its Cash ISA (to people living or working in the Dudley borough)
Are there any disadvantages to putting funds into this kind of institution? As far as I can tell they're covered by the FSCS. The only restricting term on the account I can see is the requirement to give 30 days notice for withdrawals. Oh and the interest rate is variable of course.
Just wondering about the prudence of putting cash into a credit union really.
I'd go for it, if I lived in Dudley.
Do they allow transfers in too?0 -
MarkyMarkD wrote: »Credit unions are, generally, pretty dodgy. But the daft "levelling up" of the FSCS means that it is no riskier than investing in a blue chip bank or building society.
I'd go for it, if I lived in Dudley.
Do they allow transfers in too?
Thanks MarkyMark. I don't believe they do allow transfers in unfortunately.
Interestingly they describe the interest as a "dividend"; don't know if that's significant in any way!?0 -
Mini Cash ISAs: The Best ISAs Currently Available List
Fixed rate mini cash isa's that accept transfers in:- 2 Year Fixes:
- Cheltenham & Gloucester Fixed Rate ISA - 3.50%
Minimum deposit: £30,000+ (to qualify for the higher rate).
Interest payment: Interest can be paid away or compounded.
Notes: Fixed until 30/06/2011. 3.00% is paid for balances totalling £15,000 - £29,999 and 2.50% for £100 - £14,999.
This ISA should not be listed in this section as it only accepts transfers in when the new account is opened with new money (ie. this years subscription).0 - 2 Year Fixes:
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This ISA should not be listed in this section as it only accepts transfers in when the new account is opened with new money (ie. this years subscription).
Did Cheltenham and Gloucester tell you this when you made an enquiry about opening this ISA? I've had a look at the website, but I can't find where it states that you must also subscribe this year's allowance.
From what I can tell, the website states that if you wish to open or transfer the ISA by transferring in this year's allowance you must top it up to £3,600 to meet the minimum opening balance. It also mentions the option of transferring in ISAs held with other providers, but doesn't appear to state that, in order to do so, you'll need to subscribe this year's allowance too.As you’ll need the full cash ISA subscription limit of £3,600 to open the C&G Fixed-Rate ISA
It does state the above, but this could mean that you need at least £3,600 to open the ISA, as £3,600 is the minimum operating balance.
If C&G have given you this info (or you've found it in the T&C's) please do post the info or the link and I'll update the info for this ISA.Please call me 'Kazza'.0 -
Did Cheltenham and Gloucester tell you this when you made an enquiry about opening this ISA? I've had a look at the website, but I can't find where it states that you must also subscribe this year's allowance.
From what I can tell, the website states that if you wish to open or transfer the ISA by transferring in this year's allowance you must top it up to £3,600 to meet the minimum opening balance. It also mentions the option of transferring in ISAs held with other providers, but doesn't appear to state that, in order to do so, you'll need to subscribe this year's allowance too.
It does state the above, but this could mean that you need at least £3,600 to open the ISA, as £3,600 is the minimum operating balance.
If C&G have given you this info (or you've found it in the T&C's) please do post the info or the link and I'll update the info for this ISA.
I have opened one of these accounts during this current tax year and funded it with a transferred ISA from previous years (over 3600) - however, there was no need for me to subscribe to this year's ISANot Rachmaninov
But Nyman
The heart asks for pleasure first
SPC 8 £1567.31 SPC 9 £1014.64 SPC 10 # £1164.13 SPC 11 £1598.15 SPC 12 # £994.67 SPC 13 £962.54 SPC 14 £1154.79 SPC15 £715.38 SPC16 £1071.81⭐⭐⭐⭐⭐⭐⭐⭐⭐Declutter thread - ⭐⭐🏅0 -
Frogletina wrote: »I have opened one of these accounts during this current tax year and funded it with a transferred ISA from previous years (over 3600) - however, there was no need for me to subscribe to this year's ISA
Thanks Frogletina. Your info is much appreciated.
The info on the C&G website seemed to suggest that subscribing this year's allowance wasn't a requirement to open this ISA, like I thought. Your information has confirmed that this ISA can be opened by transferring in ISAs from previous years only - provided that they meet the minimum opening balance of at least £3,600 or above.Please call me 'Kazza'.0 -
Did Cheltenham and Gloucester tell you this when you made an enquiry about opening this ISA? I've had a look at the website, but I can't find where it states that you must also subscribe this year's allowance.
From what I can tell, the website states that if you wish to open or transfer the ISA by transferring in this year's allowance you must top it up to £3,600 to meet the minimum opening balance. It also mentions the option of transferring in ISAs held with other providers, but doesn't appear to state that, in order to do so, you'll need to subscribe this year's allowance too.
It does state the above, but this could mean that you need at least £3,600 to open the ISA, as £3,600 is the minimum operating balance.
If C&G have given you this info (or you've found it in the T&C's) please do post the info or the link and I'll update the info for this ISA.
That is exactly what I was told when I rang them to query how I could open the account with only a transfer of previous tax years contributions.
I suppose it is possible the agent got it wrong.
Maybe, in the light of what Frogletina says I'll try again, if I can get them to send me 2 sets of forms for the 2 of us! I'll let you know if I get a better answer this time.0 -
sorry if this is a simple question but can i transfer my old isas into newly opended natwest isa( without putting in any new money)
and then open a new first direct isa and subscribe to this with NEW money
I have reda the thread but cant seeem to figure it out
thanks for any help
steve0 -
Yes Steve, you can certainly do this, just as long as your new money doesn't exceed the yearly limit of £3600.0
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Thanks Frogletina. Your info is much appreciated.
The info on the C&G website seemed to suggest that subscribing this year's allowance wasn't a requirement to open this ISA, like I thought. Your information has confirmed that this ISA can be opened by transferring in ISAs from previous years only - provided that they meet the minimum opening balance of at least £3,600 or above.
Okay, so I have just got off the phone to C&G, having spoken to a CSA (Rowena Palmer) who was very definite that I would have to be placing the current tax year's subscription with them to open this account!
That could either be via an ISA transfer (or transfers) from another provider(s) which include the 09/10 £3600, or by a depositing £3600 with them and then arranging transfer of previous years ISAs from other providers.
C&G will not accept a transfer on its own to open this account unless new money in the form of this (09/10) years funds are included!0
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