Cash Isas Transfer discussion

purplestar133

ukdutypaid wrote: »

That's what they said in Germany........ Sorry, sorry, I know that's not fair.....
quote]

ooh, harsh!

sahmx5

I have an NS&I Cash Mini ISA taken out in October 2006. I have another £3000 to invest and am taking out the NS&I Direct ISA. Why can't I transfer the Cash Mini Isa amount into the Direct account? Is it because I haven't held it for a calendar year?

As it seems impossible to transfer it into the Direct Mini Isa can someone please tell me if anyone offers a better rate than 5.3% (The Cash Mini ISA Rate) that I can transfer into.

Many thanks for any help or advice.

7oakboy

Hi Sahmx5
Highlighted by "MoneySavingExpert" The Mini Cash ISA rates from Kent Reliance will be hard to beat, the rate is currently 5.96 but will increase to 6.21 on 1st August. These are actual rates and not bonus introductory rates that only exists for a period. Also, they allow transfers in of ISA's held with other providers.

Good Luck

neutron

After looking at the Kent Reliance low level website and speaking to the off-shore "service" staff I'll be investing elsewhere.

jp_save

Abbey Direct ISA doesn't seem to be recommended much. If you have £9k+, it offers 6%. I know the 0.5% bonus (and promise to match base rate rises) is guaranteed only until May 2008, but the variable bonus isn't an "introductory bonus" as such, since it's available to all Abbey Direct ISA holders. Of course, comparing with other transfer-in ISAs, the rate will be 0.21% below Kent Reliance from August, but it beats the top online ISA from Yorkshire BS which offers 5.8%.

Abbey Direct ISA also allows free transfer-ins and online access, and is more easily accessible through branches.

What are the chances Abbey will drop rates significantly in May next year? Any thoughts?

Update: in fact, it appears Abbey is increasing it's rate to 6.25%, they're just a bit slow to react.

irishkeet

hi

i have 16k to transfer
Do people think the Abey is the best one out there @ 6.25%
Kent is no good as I would like online access

Kind Regards

Keet

jp_save

Hi Keet

I went for Abbey with a similar balance. My only worry is their guarantees only last until May 2008 and they can drop their ISA rates significantly at that point.

It's a hassle moving around ISAs, since they can take about a month to transfer, plus you may lose some interest in the transfer. So I hope Abbey remain competitive next year.

JP

irishkeet

Thanks JP
going with them too
Shame about the May bit but fingers crossed

jem16

irishkeet wrote: »

hi

i have 16k to transfer
Do people think the Abey is the best one out there @ 6.25%
Kent is no good as I would like online access

Kind Regards

Keet

Sorry I wouldn't go near Abbey. My son and I tried to transfer on 10th April from Halifax to Abbey. We gave up on 24th June as after numerous problems the transfer was still not complete.

We have both written to complain. 5 weeks later we are still waiting on their answer.

Stavros_3

Some advice please, I opened my first isa on 24th April this year with the Bradford and Bingley which paid 6.15% for this tax year but drops next April. I must admit the Kent reliance looks good although not keen on postal applications, anyway at what point would I need to send of my application and transfer documents to K.R as the interest on my Bradford and Bingley doesn't get added until the first anniversary i.e 24.4.08, many thanks