Abbey Postal ISA or First Direct e-ISA?

I have an Abbey Postal ISA application for completion but now First Direct have their new offering.

On the face of it the First Direct ISA seems better at 6.25%.

Is the First Direct ISA the best option? Any drawbacks when compared to the Abbey Postal ISA?

Thanks in advance for any help.
MFW 2015 #41 = £20,515/£20,515
MFW 2014 #41 = £26,100/£25,000
MFW 2013 #41 = £10,000/£10,000
Original MF date = May 2036 - MF achieved on 15 June 2015


  • ReaperReaper Forumite
    7.2K Posts
    Part of the Furniture 1,000 Posts Photogenic
    The First Direct ISA promotional rate will expire 6th October 2005, after which it drops to poor 4.35%. However you can always transfer the whole lot to another provider at that point if you want.

    Many have reported very slow admin getting their Abbey postal ISAs set up. While I'm sure all the providers will struggle with the seasonal demand at this time of year First Direct admin is usually pretty efficient.
  • Generally ISAs maintain a good rate of interest, so a rate that you know will drop significantly doesnt seem a good idea to me. The added rules of transfer just make moving something I want to do as little as possible.
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