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Cash ISA Question

Dumplin
Posts: 99 Forumite


I have an ISA with Abbey no savings in it at present but rate for up to £6k is 4.3%. I seen A&L's isa rate 5.4% can I close the Abbey and just open the A&L one?
also is the best so far or does anyone know of a better rate?
Thanks guys
Dumplin
also is the best so far or does anyone know of a better rate?
Thanks guys
Dumplin
:eek::eek: Money is the route of all evil, save yourselves and send yours to me :rotfl::j:rotfl:
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Comments
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was about to say stick with abbey and get a postal isa which is 5.35% when i realised that 5.4 is higher than 5.35 ... erm ... oops
what a dumplin i am ....
abbey did lead the market - thought we still did - for a while so a&l will be best now i reckon.
just remember to transfer the isa as opposed to closing it. if you close it you cant open a new one until next tax year. if you transfer it you can keep going this year ... i made that error myself a week before i discovered this board :mad:0 -
mmmm by we I assume you be an abbey employee???:eek::eek: Money is the route of all evil, save yourselves and send yours to me :rotfl::j:rotfl:0
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Dumplin wrote:I have an ISA with Abbey no savings in it at present but rate for up to £6k is 4.3%. I seen A&L's isa rate 5.4% can I close the Abbey and just open the A&L one?
also is the best so far or does anyone know of a better rate?
Thanks guys
Dumplin
I think what your asking is can I transfer from Abbey to A&L. Well yes you can, but be warned in the experience of many users, A&L is bloody useless when it comes to Cash ISA transfers
Why not look at derbyshire 2 year fix at 5.4% - Now that is AN efficient banking operation unlike the amateur behaviour of A&L ! Who will give you nothing but grief.0 -
I'm going to check this derbyshire account out myself deemy, thanks. Man, you really dont like A&L do you?
The problem for the original poster might be transfering an ISA with nothing in it (do you really mean £0?) If you close the old one and it was opened this year, you wont be able to open another0 -
The derbyshire appear to penalise all withdrawals (120 days interest!)0
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lipidicman wrote:The derbyshire appear to penalise all withdrawals (120 days interest!)
Well it is a 2 year FIXED rate account.
Usually the penalties are a lot higher, and obviously the aim of an investment would be for the term of the fixed rate period.0 -
if u want the best rates go to moneysupermarket.co.uk and you can check there0
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Dumplin wrote:mmmm by we I assume you be an abbey employee???
yup
suppose only problem with abbey postal is that its listed as instant access - in as much as you dont have to give notice - but obviously there is time to send application for withdrawal through the post.0 -
deemy2004 wrote:Well it is a 2 year FIXED rate account.
Usually the penalties are a lot higher, and obviously the aim of an investment would be for the term of the fixed rate period.
Yeah, that is true I suppose
and the A&L has a £25 transfer fee! so beware, rates could fall and you will be stuck!0
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