Where now to put your icesave isa

CCFC_80

With interest rates beginning to tumble, can anyone advise where to transfer your exising icesave isa when the money comes through ?. Have had a look at fixed rates but many of the providers will charge you 180 days loss of interest if you again want to transfer. I am looking at the post office rate at presentb 5.75% which is not fixed.

sympatex

Andy46, what's your take on thep rocess of transferring the ISA from icesave. I've missed any thread about it although i got the impression we would be asked to transfer out our isa's to our linked accounts and a certificate for that amount would be posted to us which we send to the new ISA holder?

I think i am going to transfer mine to Natwest, they seem to offer good rates and that is who i bank with so i 'feel' like i have more control & safer.

~Chameleon~

As soon as I receive my ISA money back I'm doing an instant transfer into my Egg 6.3% account and holding it there until I decide what to do next. We have until 5th April '09 to transfer it into another ISA product

However, if BM allow me to open the FRISA I applied for at the weekend (now that the account has been withdrawn) I will consider moving it to them, assuming I get the money back any time soon!

darude

So does this mean I should get my ISA money out of a current account and put it in somewhere thats paying a tad bit of interest right now?

KingL

yep, at least until you receive your ISA certificate from FSCS ............

darude

I was planning on putting it in to Natwest/RBS when I get the certificate, but I went to the branch today and found out their rates are going to drop from 6.6% to 4.6% from Monday.

$nake_eye$

Any suggestions on a high interest account to use until ISA certificates arrive?

SGE1

sympatex wrote: »

Andy46, what's your take on thep rocess of transferring the ISA from icesave. I've missed any thread about it although i got the impression we would be asked to transfer out our isa's to our linked accounts and a certificate for that amount would be posted to us which we send to the new ISA holder?

I think i am going to transfer mine to Natwest, they seem to offer good rates and that is who i bank with so i 'feel' like i have more control & safer.

I think Natwest are dropping their ISA rate on Monday... And if you scour these boards, experiences of Natwest haven't been great...

SGE1

~Chameleon~ wrote: »

As soon as I receive my ISA money back I'm doing an instant transfer into my Egg 6.3% account and holding it there until I decide what to do next. We have until 5th April '09 to transfer it into another ISA product

I tried to open a 3 months fixed saver with Halifax this morning to do exactly that (rate is currently at 6.25%), and then come March, review what's on the market and pick an ISA then, since as you say we have until 5th April 09 to transfer the funds.

I'm not sure whether I'll be able to get to that account in time before it's shut down; and surely Egg's rates will drop too on Monday?

Does anyone have any other suggestions?

~Chameleon~

SGE1 wrote: »

I tried to open a 3 months fixed saver with Halifax this morning to do exactly that (rate is currently at 6.25%), and then come March, review what's on the market and pick an ISA then, since as you say we have until 5th April 09 to transfer the funds.

I'm not sure whether I'll be able to get to that account in time before it's shut down; and surely Egg's rates will drop too on Monday?

Does anyone have any other suggestions?

The Egg 6.3% is a fixed rate for 12mths but was withdrawn some time ago now. I don't know of any other decent fixed rate accounts left now, and whatever you find today will no doubt be slashed again on Monday so best to apply online today, or print off applications and ask them to honour the rate if you can.

LGG_2

same situation here. ex icesaver and lost as to where i should put my money. most accounts are being slashed over the weekend so i guess ill just have to wait until early next week to get a clearer picture as some rates have already dropped and others will next week. for the dire rates u might aswell put the money under the floor boards at least u know where it is lol

chelsea building soicety are offered a decent rate fixed account 5.65 for a year. not an ISA though. i was gonna go with natwest but seeing as their rates are getting slashed i guess itwill just be a case of taking what i can when my isa form turns up. does it everseem to end. always waiting on something lol