cash isa hsbc

foxydan

Hi all,

just wanted some help with something. I have a cash isa with hsbc which i took out around 5 years ago. I have over £13,000 in it and am a little baffled by the interest to it.

I am receiving just under £2 a month in interest. Does this sound right? The reason i ask is because my wife has an isa with around £10,000 in hers with natwest and receives over £18 a month.

How can these be so different?

xylophone

You need to keep an eye on interest rates and transfer to the best rate as and when you can. For current best rates see here - http://www.moneysupermarket.com/savings/cash-isas/?gclid=CND5zNTOsrACFU4lfAodGnM4Ug&source=GOO-131774B1&p=0&keywords=best+isaExact&ef_id=zg29z9B6MjYAADLkFkwAAAAP:20120603174041:s
Santander and the Post Office accept transfers.
When the rate drops, transfer again. Don't forget that you must ask the new provider to arrange the transfer.

MoneySaverLog

Look outside the HSBC box for Cash ISAs and you'll find much better rates :-)

Teatwosugars

Hi FoxyDan, either ring up or go into your local branch explain your not happy with the rate and considering taking it elsewhere, they should be able to offer you something. (should be about 2.2%)

There are a lot better rates elsewhere but you have to transfer in the funds please do not take any money out of the isa or you will lose your previous allowances!

Santander direct ISA at 3.3% is a simple instant access ISA, you can transfer your funds in too!

All rates drop after 12 months so it pays to shop around every year!

MoneySaverLog

Teatwosugars wrote: »

Hi FoxyDan, either ring up or go into your local branch explain your not happy with the rate and considering taking it elsewhere, they should be able to offer you something. (should be about 2.2%)

There are a lot better rates elsewhere but you have to transfer in the funds please do not take any money out of the isa or you will lose your previous allowances!

Santander direct ISA at 3.3% is a simple instant access ISA, you can transfer your funds in too!

All rates drop after 12 months so it pays to shop around every year!

Agree with this, but would avoid Santander myself. Lloyds TSB do a 2 year fix at 3.7% and you can add to it at anytime up to your yearly allowances. So if rates drop you still get to invest at 3.7% for the 2 year duration