natwest isa 7.32%

runciblespoon

See http://www.natwest.com/personal/savings/g2/isas/cash-isa.ashx#tabs=section3

If your ISA transfer was 'requested' before 18th Sep-9th Nov 2008, you get 2% bonus. If it was between 10th Nov and 18th Dec, you get 1.76% bonus. This is on top of the tiered rate which is 0.6% (£1-8999) to 1.98% (>£27000).

(These are all the gross rates - because interest is paid monthly, there are a few 0.01% differences in the AERs, but these are insignificant)

littlemissmoney

Hi

I opened one of these when it had a 2% bonus (>£27K). If I put another £3,600 in now will that also get the bonus? Is this a good idea or is the Barclays Golden ISA a better rate?

Thanks

gogsboy

runciblespoon wrote: »

See http://www.natwest.com/personal/savings/g2/isas/cash-isa.ashx#tabs=section3

If your ISA transfer was 'requested' before 18th Sep-9th Nov 2008, you get 2% bonus. If it was between 10th Nov and 18th Dec, you get 1.76% bonus. This is on top of the tiered rate which is 0.6% (£1-8999) to 1.98% (>£27000).

(These are all the gross rates - because interest is paid monthly, there are a few 0.01% differences in the AERs, but these are insignificant)

I made this transfer within the 2% dates and received all paperwork but my money did not go in and the account was never opened, it's only just been sorted out after me having to re-apply and argue the case and prove I did apply within the dates.

Apparently they are going to backdate my interest next month, but as I understand it the current rate with now be 2.75% gross.

Would it be best to put this years allowance with a better rate and later move the natwest money or is that not allowed.

Surely the E-ISA is the best natwest one at the moment or am I missing something?

oldfella

I was told by Natwest all contributions receive the bonus. Whether to go for it depends on your rate. If the net difference is only a few pounds pa probably simpler to have all ISAs in one place for later transfer

gogsboy

I think its 2.6% AER versus 3.25%

sly_dog_jonah

littlemissmoney wrote: »

Hi

I opened one of these when it had a 2% bonus (>£27K). If I put another £3,600 in now will that also get the bonus? Is this a good idea or is the Barclays Golden ISA a better rate?

Thanks

Yes you can contribute this tax year's subscription and get the bonus on that too, since the bonus applies to the whole balance of the ISA for 12 months from the receipt of the first ISA transfer.

If you choose to do this, when the bonus expires in the Autumn you will only be able to transfer out to another ISA (that allows ISA transfers in) if it doesn't require subscribing in the current tax year. Most 'transfer in' ISAs don't require subscribing though, so make the most of the bonus while you can.

apt

Oldfella I take your point that it's simpler administratively to merge your ISAs. But with some providers refusing to do partial transfers it's actually harder to split up ISAs than to merge them. People who have invested the full amounts in cash ISAs and the Tessa and not made any withdrawals will now be over the £50,000 compensation limit if they've got all their money in one ISA. They, at least, should avoid putting all their ISA money in one place.

gogsboy

runciblespoon wrote: »

See http://www.natwest.com/personal/savings/g2/isas/cash-isa.ashx#tabs=section3

If your ISA transfer was 'requested' before 18th Sep-9th Nov 2008, you get 2% bonus. If it was between 10th Nov and 18th Dec, you get 1.76% bonus. This is on top of the tiered rate which is 0.6% (£1-8999) to 1.98% (>£27000).

Was the bonus made available for new money?

masonic

gogsboy wrote: »

Was the bonus made available for new money?

The bonus was only payable if you transferred an existing ISA to Natwest. It's paid on the whole balance of the account for 12 months.

HAPPYHAMMER_2

Has anyone had the experience of transfering an ISA from A&L to NatWest?

The NatWest Transfer form only allows an 8 digit account number, but the A&L account number has 11 digits! There doesn't seem to be anyway around this as you complete the form electronically and then print it out.

Thanks.