M&S Cash ISA up to 4.75% today

david78

They did this 3 days early didn't they.

sly_dog_jonah

excellente ;D Not sure i can be bothered to transfer to abbey which will be 0.1% better when they up their rates under the same guarantee... think i'll stick with M&S until next april at least.

isasmurf

According to Teletext (p532) it closes to new investors after this weekend!

david78

To close this to new businesses already is a really strange thing to do.

It probably means the a/c won't be competitive after 5/4/2005 so I will probably have to move it then.

Perhaps Martin will comment when this news goes official from M&S.

hellomoto

To close this to new businesses already is a really strange thing to do.


Yes, it is, I am not too amused, I just moved to them and am begining to think twice

>:(

M_Thomson

To close this to new businesses already is a really strange thing to do.


Yes, it is, I am not too amused, I just moved to them and am begining to think twice

>:(

Why? Your money is safe. They are not going to close to exisiting customers. They only bad thing is that the base rate guarantee of .50% above base rate may not be around after April 5 next year. But then most of the guarantees from other companies to move in line with Base rate will probably change or dissapear.

Kazza242

I agree with M Thomson here.

hellomoto - The fact that M&S are closing their doors to new customers won't affect you at all.  The M&S cash mini ISA has been around since February 20th 2004, so people have had plenty of time to apply.

Existing customers will probably be getting 5% or possibly 5.25% before next April, so I don't think it would be a good idea to transfer to another provider now.

I'm going to keep looking out for any other competitive deals which may come along especially if M&S are not competitive after their rate guarantee expires.

System

Well base rate increased to 4.5% today, which means the M+S ISA is now 5%, fortunately I managed to move to a fix rate mortgage a couple of months ago, so well happy!

sly_dog_jonah

which means the M+S ISA is now 5%

Not quite yet, no official announcement from M&S, but it should go up within 5 working days last time it took just a day!

quinlanmd

They have definitely announced this to the financial press (although not reported on the main websites yet). (I'm waiting for IF's announcement, as their +0.3% promise should now kick in).

Kazza242

M&S have increased their mini cash isa interest rate to 5.00% as of today (11 June). This information is now on their web site.