Abbey Direct ISA (Issue 3) - 2.5%

jimbow25

Haven't seen this mentioned in this forum yet:

http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1210610545766&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateB2

2.5% as opposed to the 2.3% currently paid by Issue 2. As with the old versions it accepts transfers in. They're also doing another 'Super Direct ISA' which is the one linked with an investment product.

According to the Sunday Times last week, Abbey are meant to be launching a 'market leading ISA' before the end of the tax year:

Abbey is also poised to raise rates paid to Isa investors with lump sums. “We will be offering higher rates and hope to be up there in the best-buy tables,” it said.

Surely this can't be it?

AirlieBird

No, today's SUnday Times is reporting that they're launching a "Reward ISA" tomorrow at 3.5% including a 2% bonus if no withdrawals are made. http://www.timesonline.co.uk/tol/money/savings/article5821427.ece

jimbow25

Thanks for that info - I guessed there must be something else on its way. According to that article the Reward ISA won't accept transfers in (if anyone is wondering).

I've been with Abbey for a few years and I'm bored with their new issues coming out every year that force people to keep on their toes to get a reasonable rate. I think I'll pass on both of these and move my money elsewhere, this time.

elektra

jimbow25 wrote: »

Haven't seen this mentioned in this forum yet:

http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1210610545766&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateB2

2.5% as opposed to the 2.3% currently paid by Issue 2. As with the old versions it accepts transfers in.

Issue2 is now paying 1.8% as at 1st March

beardiedog

I think it's about time the government forced the banks & BBs to accept free transfers in to all ISA products.

beardiedog

elektra wrote: »

Issue2 is now paying 1.8% as at 1st March

I can't remember if there is a bonus on Issue 2 for keeping money in for 13 months or not. I want to move but I don't want to lose any bonus if there is any. Can anyone remember as Abbey's website doesn't say.

elektra

the rate drops after 13 months, so if you move it now you should receive the bonus rate up till now.

Baldur

beardiedog wrote: »

I can't remember if there is a bonus on Issue 2 for keeping money in for 13 months or not. I want to move but I don't want to lose any bonus if there is any. Can anyone remember as Abbey's website doesn't say.

From (rapidly failing) memory, any bonus on previous Abbey Cash ISAs was payable for 13 months, rather than requiring you to keep money in the account for that period - I certainly transferred my last Abbey Cash ISA (2007/8 tax year) in early 2008 due to rapidly-dwindling interest rates.

beardiedog

Thanks elektra. That's good. I had it in mind that I would lose the bonus rate for the whole period if I moved before the end date. It's so confusing, you really need to be on your toes.

beardiedog

Thanks Baldur, I'm getting confused with all the varying rules for different types of savings accounts. I'm sure they do it to try and trip up the unwary!

Baldur

beardiedog wrote: »

Thanks Baldur, I'm getting confused with all the varying rules for different types of savings accounts. I'm sure they do it to try and trip up the unwary!

Of course they do...