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ISA - Help

Hello,

I have an ISA with Intelligent Finance paying 0.6% interest and see that Natwest are offering 3.51%. Is it worth all the hassle of moving my exisiting ISA. Or will the Natwest rate also fall inline with the BOE base rate?

Thanks

James

Comments

  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    The base rate is at 0.5%, can't go much lower...
  • Baldur
    Baldur Posts: 6,565 Forumite
    Filling in Natwest's ISA transfer form and letting them arrange the transfer is a hassle? If you are worried about the Natwest rate falling, Halifax are offering 3% fixed for a year on their Direct ISA Reward, which accepts transfers and permits 4 penalty-free withdrawals in the twelve month period.
  • I am in a similar situation however my isa is with rbs and i see rbs have a higher rate now, can i still transfer or would i be best to go to halifax one?
  • MoneyMan
    MoneyMan Posts: 69 Forumite
    Part of the Furniture Combo Breaker
    Thanks for the info. However just realised I've invested funds by standing order in 2009 tax year which means the new provider (Halifax) will not allow me to set up!

    Spoken with IF and they only have the one ISA available at 0.6%.

    I can transfer balance however they wouldn't allow me to pay any additonal money in!

    Is it worth transferring £30K balance?
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    You mean youve set up a Standing order with IF for the ISA for this tax year?
  • Baldur
    Baldur Posts: 6,565 Forumite
    MoneyMan wrote: »
    Thanks for the info. However just realised I've invested funds by standing order in 2009 tax year which means the new provider (Halifax) will not allow me to set up!

    Spoken with IF and they only have the one ISA available at 0.6%.

    I can transfer balance however they wouldn't allow me to pay any additonal money in!

    Is it worth transferring £30K balance?
    Halifax will allow transfers without new money being subscribed, a friend did so recently.

    ISA transfers permit the balance of current tax year's funds to be subscribed to the new provider after transfer, in any event.
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