Transferring from Nationwide e-ISA to Halifax

Wammer

I have an e-ISA opened with Nationwide on 18 June 2010 which has a bonus until 30 June 2011 and is paying 2.75%.

I have just seen the Halifax 3.2% one for Reward current account holders and am thinking I should transfer it to that.

Is this the right thing to do or is there something better?

According to the Nationwide site the interest and bonus are calculated daily. Am I right in assuming I will still get the bonus paid up until I transfer? I don't need to leave it in for 12 months to get the bonus?

Thanks

le_loup

You know you can transfer to the Nationwide current E-ISA paying 3.1% till July 2012? You will get the interest paid up until the day you transfer to either Halifax or the new NW offer.

Lokolo_2

Wammer wrote: »

Is this the right thing to do or is there something better?

Sounds good to me, as long as you qualify for that account then the rate is pretty good for an Instant access ISA accepting transfers in :j

Wammer wrote: »

According to the Nationwide site the interest and bonus are calculated daily. Am I right in assuming I will still get the bonus paid up until I transfer? I don't need to leave it in for 12 months to get the bonus?

Thanks

Yes, interest is calculated daily, so you would get paid interest right up to the point when you transfer out of Nationwide, including the bonus.

Wammer

Thanks for the replies.

Yes I did see the Nationwide 3.1% ISA tonight, but it's not a "clean" rate and again has a bonus which expires.

However would the Nationwide one be better at 3.1% until July 2012 than the Halifax at 3.2% for 12 months?

Is the interest on the Halifax one calculated daily?

Lokolo_2

Wammer wrote: »

Is the interest on the Halifax one calculated daily?

Yes, calculated daily but only paid annually, most accounts have the interest calculated daily.

As a twist, Santander seem to have an ISA coming out on Friday which offers 3.3%, but doesnt allow transfers in, so the Halifax seems the best bet for you still :j

Wammer

Thanks. I still haven't decided which one is best. However I have send for a transfer pack from Nationwide and printed off the transfer forms from the Halifax.

Is it likely that some providers may announce even better deals in the run up to 5 April? I checked the NS&I site and they don't have anything decent at the moment.

Lokolo_2

Wammer wrote: »

Is it likely that some providers may announce even better deals in the run up to 5 April? I checked the NS&I site and they don't have anything decent at the moment.

Nobody knows to be honest, from past experience it is quite likely that better options may surface before the new tax year, but that's not guaranteed at all so you'd need to make your own judgement!:p