Where now to put your icesave isa

SGE1

~Chameleon~ wrote: »

The Egg 6.3% is a fixed rate for 12mths but was withdrawn some time ago now.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.

Indeed. The problem with the best one I've found (Halifax) is that you need to open another (crappy variable) account before you can apply for the fixed. Hence by the time the first is up and running, the second might have been withdraw.

Also, I'm looking for a fixed rate that's <6 months, to be able to withdraw it in time to re-invest in an ISA before the end of the financial year.

TattyBear

SGE1 wrote: »

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

I've had to reapply for a Natwest E-Saver account because I didn't send back the paperwork within 28 days. They took a week to send me the paperwork in the first place, and another week to send back my cheque telling me to go through the whole process again. :mad:

If Natwest's rates are dropping by a third from Monday, I won't bother with them. I'll just put most of my ISA in to my ex-Kaupthing ING account at 4.5% until my certificate arrives.

I don't know where I'll put my ISA when the cert arrives though. It's seems that Brown, Darling and the BofE and screwed all of us with savings.

KingL

darude wrote: »

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?

Just to note that moving funds out of your linked account is now officially sanctioned in the FSCS faq:

36. I have now received my ISA payout from the FSCS, but am unsure as to whether or not I can move it from my linked account it was transferred to, to an interest paying savings account for a short period until I receive the certificate confirming the ISA status. I do not want to lose the ISA status by moving it twice.

If you wish, you can transfer your ISA payout to an alternative account whilst you wait to receive your ISA certificate. This will not affect the tax free status of your ISA.

Stompa

KingL wrote: »

Just to note that moving funds out of your linked account is now officially sanctioned in the FSCS faq:

Interesting, it had never occurred to me that it might not be permitted.