£1000 to invest

pukkamum

so sorry if this has been answered but we have recently inherited £1000.
We are in a very unusual situation for us, in that we don't need to use it!!!
So i was thinking of putting it into an iSA.
However i know nothing about them.
Should i just go to my bank, barclays and do it through them or should i try elsewhere.
Also i would like instant access, as we may well need to get to it should car break down etc.
Also can i then set up a direct debit to put more in?
Sorry if these are obvious questions.

kingmonkey

In this instance Barclays would probably be the best. Not because you're already with them, but because they offer the highest rate.

http://www.moneysavingexpert.com/savings/best-cash-isa

You can easily set up a standing order to pay into the account. You can only deposit up to £3600 in any tax year (6 Apr to 5th April)

Be sure to transfer the ISA once the 1% bonus has come to an end.
http://www.moneysavingexpert.com/savings/cash-isa-transfers

exel1966

BUT, Barclays cash ISA's for the past two years have been a complete nightmare for thousands of people when it's come to opening them. They've been inundated with problems and it has taken months for many to actually get an account up and running. There is a thread HERE about it.

THIS thread will give you some alternatives if you want them.

kingmonkey

I had no problems opening an account, and I was a new customer. YMMV

B.E.N

Also, it's now August, so I doubt there'll be much demand on their ISA setup department, and most of the backlog should be cleared by now.

I think that most of the problem is that everyone transfers in April (start of tax year), and if you're at the top of the best buy lists, you're gunna be inundated.