New ISA - Barclays or NatWest?

Any

Hi everyone,

I am about to open new ISA as the one I was using for few years is cra* now (NS&I). I didn't earn enough to accumulate any wealth, so I just used ISA as a saving account for rainy day - which recently happened so I have no money to transfer to new ISA.

I am wondering whether to go for NatWest or Barclays - I am existing customer of NatWest, which would make opening easy. However last time I used them (E-savings) they dropped rates drasticaly within few months so that rate wasn't that great any more (but at least there is 2.1% gross protected... better then most, not the best though..).

I am wondering whether Barclays has a better history of keeping up their rates? Or once they finish attracting new customers they drop down within seconds?

Thanks
Any

danny69

I have just this morning opened an ISA with Barclays. Just disapointed I didnt get a book and just left with a reciept for my deposit and an account number and sort code. Paya 3.61% though, It shouldnt go much lower (3.11% if base rate hits 0%) I think interest rates are pretty much bottoming out now.

Any

Thank you,
I thought the Barclays might be better. I know 1% is 12 mths bonus, but NatWest went down 3.5% within 2 mths last time I opened account with them and here at least that 1% is for sure.

mau408

I had a barclays last year and year before even though the poor reports of processing etc. However I thought I'd try Natwest e-ISA this year as it will allow transfers in and with other ISAs popping out there's a chance of getting a higher rate with transferring in. The barclays means that you lose your bonus unless you keep the ISA open for a year, however I believe the Natwest is instant access and you don't have to leave it in a full year to get the bonus. It also helps to spread risk around different banks.

Any

Thanks Mau, I have to check it out.
I knew Alliance take the bonus of you if you make withdrawal, I didn't know Barclays does as well.

mau408

I might be wrong! I'd just check it out first.

Any

I just checked and it isn't stipulated that you have to keep the money in.
Still though, have to go to the branch as I am not currently customer... What a pain..:-(

clairbear_3

New customers to Barclays have to apply in branch,if that doesnt deter you it offers slightly better rate also offers a 6% monthly saver.
Natwest can be opened online and offers withdrawals without penalty

Crabman

Many people have had bad experienced with Barclays making a mess of the account opening process. If you're after an easy life I'd recommend going with Natwest's eISA