Natwest 3.5% (Min £30k)

Chris00

Hi all,

I was under the impression ISA's had a fixed cash limit of around £5000 per tax year, with the 2012 / 2013 limit being £5,640.

However, on the "cash isa transfers" page of this web site (MSE slash savings slash cash-isa-transfers) it lists a Natwest account that has a minimum investment of £30,000!

How can that be possible for an ISA account?

Thanks

OneADay

They expect you transfer in previous years' ISA allowances which you might have elsewhere.

I was searching earlier on that other well know money site - it was listed at top - only when I click on "More Info" got that bit about £30k, otherwise Natwest offer 3%. Wish they just gave clear figures without all the catches.

innovate

If you had put the max cash each year into an ISA since 1999/2000, you could have paid in £44,640 in total by the end of last tax year.

So even without interest, your total cash ISA funds could be well above £30K.

thenudeone

.. and if you also transferred money from TESSAs (tax-exempt special savings account), the predecessors of ISAs, you could have contributed well over £50k even before any interest was added.