The Best Mini Cash ISA Article Discussion Area

debbie42

debtworrier wrote: »

What have other people's experiences been when opening accounts with an organisation for the first time?

It depends how much you want the account. I'd not personally want to jump through hoops and get a current account just to satisfy their somewhat arbitrary requirements. If building societies and other institutions can manage to open an isa for you without such a "safety net", then it just seems like a way to force you to take a product you don't want. It's not like it's a great rate anyway.

debtworrier

debbie42 wrote: »

It depends how much you want the account. I'd not personally want to jump through hoops and get a current account just to satisfy their somewhat arbitrary requirements. If building societies and other institutions can manage to open an isa for you without such a "safety net", then it just seems like a way to force you to take a product you don't want. It's not like it's a great rate anyway.

Thanks. If everyone else was doing it (new government regs or something) then I'd be stuck. As it is I think I'll tell them to shove it.

Lindsay-Lou

Hi,

I wonder if someone could confirm something for me. I've got some money in a previous years ISA and I would like to start saving in this year.

If (and i need to check) my older ISAs interest rate is poor can i transfer this AND then open a new, seperate ISA for this year? Or is there an advantage to moving the old money into the same a/c as i'm currently (going to be) saving in?

The way I'm reading it is if i can both transfer and open a new a/c i might be able to benift from the higher rate a/c which do not allow transfers.

thanks for you assistance

mleonard79

Lindsay-Lou wrote: »

If (and i need to check) my older ISAs interest rate is poor can i transfer this AND then open a new, seperate ISA for this year? Or is there an advantage to moving the old money into the same a/c as i'm currently (going to be) saving in?

The way I'm reading it is if i can both transfer and open a new a/c i might be able to benift from the higher rate a/c which do not allow transfers.

thanks for you assistance

Hi Lindsay-Lou,

Yes you can transfer to one cash ISA for previous years subscriptions and open a new ISA for this year's subscription so long as you do not pay any new money into the one you transfer into. If you have quite a bit to transfer though it could be best to just go for the one account as the rate you can get on the account you transfer into at the moment can be nearly as good as the rates for new money only (ie Abbey at 6% if you have £9K in the account is only 0.05% off the best rate for new money.) Check out Kazza's ISA List Thread for all the best rates.

Regards

Michelle

dantai2000

Hi!

I don't know whether this has been asked before (this and the last thread was sooooooo long, haven't the time to trawl through them all...), but I'm in a quandary...

For the first time in my life I have a substantial amount of money at my disposal to save, and so a tax free savings account would obviously be best.
Hypothetically, if I put my yearly allowance in one of those (around £3000 I believe?), what happens then? I mean to not take any money out, as I am saving for a deposit to buy a house in 3 years time. Do I get the interest paid out at the end of the tax-year (April 2008)? And then what? Can I then put another £3000 in, on top of the £3000 that's already in there, without the whole lot being taxed? And what about the interest paid out, does that then have to be included in the next yearly allowance, or can that stay in the account separately?

Can somebody explain please, it's all very complicated in my head

**woody123**

Hi

Yes you have £3000 to put into ISA between now and April 2008..

Some ISA providers pay interest on the anniversary of the account and some pay it in April, a few pay the end of September.


The 2008/9 allowance by the way is £3600.. and yes you will pay it on top of whats already in there without being taxed...

Ann1e

Don't know if anyone has mentioned this but re Kent Reliance, apart from closing their 'branch' in a local estate agent, they aim to close all branches (I think) and be "postal". Also, and this really gets me, their call centre is now in India! I have not been at all happy with the telephone conversations I have had, they did not give me correct information and a cheque which I wrote and asked for nearly 10 days ago is to be posted tomorrow (today now) - an Indian lady phoned me twice yesterday, firstly to ask if I'd received said cheque, then when I said I hadn't she put me on hold, still couldn't ascertain where the cheque was so phoned me back to tell me it would be posted today. I am not at all happy with this service. I used to be able to get my money immediately and now it's taking nearly a fortnight!

JohnnyBoy

This post is in response to the updated article on The Best Mini-Cash ISA, mentioned in this week's Tips email.

I'd like to draw your attention to Scarborough Building Society's Regular Savings ISA, which is paying 6.55% AER. You can pay in from £10 to £250 per month plus you can make one withdrawal per year and still get this great rate.

If like me you are only able to save a little every month this might be the account for you.

http://www.scarboroughbs.co.uk/savingsandinvestments/regular_savings.html

OliveOyl_2

Until the 18th of this month you can get £110 cash back (via Quidco) if you open an ISA with Legal & General. You will note from my signature that I am probably not planning long-term savings -yet.;) But what is to stop someone opening an ISA for 2-3 months, paying in £50 each month and then closing it once the £110 cashback had been received? There are no exit fees on the one I looked at, what am I missing?

thanks in advance for your help.


oooops, spotted the correct discussion further down...I'll get me coat sorry:o

COCO

Evening all

This is my first post so go easy on me

my question is i have a Barclay's "Tax beater ISA " £3000 'S worth, should i move it to a better payer or stay put?.

Also does anyone know if they charge for this? .

Cheers Coco.:beer: