ISA thought?

consumers_revenge

I have a ISA at halifax which has now dropped to 1/2 % interest. My only one and its got £5100 in it.

So Im looking to move it to the nat west one. they say it will take 4 weeks to move and I've waited 10 days for the app to arrive now.

So would it just be better to withdrawal the £5100 and just put a cheque straight in there. No waiting and better interest straight away.

I def wont be putting anymore away this year as new baby arrived.

Thanks

Mikeyorks

Yes - that's sensible if you're sure you won't be adding any fresh ISA funds this year.

Lokolo_2

Ahh ok, I was going to say what I normally do about transfering rather than withdrawing but it does seem more sensible to withdraw and deposit it as new money in this case, you may well find better rates as the best rate instant access ISA's are those which only accept new money :j

Certainly don't leave it sitting there at 0.5% :eek:

opinions4u

The Nat West eISA appears to be paying 2.00%.

Why not give Halifax a call and ask to go on to the new ISA Direct Reward paying a rate of 2.60%?

That way you will keep the same account details, get a better rate and save yourself some time.

0845 850 2582

Mickygg

Yeah as above if you are only getting 2% there are slightly better deals out there. Halifax, Ing, nationwide all pay more with instant access.
Also applications are usually quicker if you go to bank in person as you can complete application there and then and hand it back to them. Saves several days.

consumers_revenge

Think the NW rate must have just changed then as it was 2.6 with instant access and HF 2.75 but with 4? withdrawals.

consumers_revenge

I think! ( 6 weeks of no sleep!!! )