Cash ISAs: The Best Currently Available List

CuparLad

ISA Transfer Experiences

Principality → Saffron (Manual Process)

• Thu 26th - Posted form to Saffron (1st Class)
• Fri 27th - Saffron ackowledged form and sent to Principality
• Mon 30th - Principality sent cheque to Saffron
• Wed 1st - Saffron credited cheque

So five working days in total.

Principality → Aldermore & Vida → Principality (BACS Process)

• Day 1 - Submitted online form to new ISA Manager
• Day 2 - Old ISA Manager confirmed receipt of request
• Day 3 - New ISA Manager confirmed funds

Each time, the BACS process took a predictable three workings days (If you're wondering, I was just reacting to changes in rates and new products available. You snooze you lose!)

The manual process is maybe a couple of days slower, but none of this gives me any grounds to grumble whatsoever. My guess is that as the years go on, more people have more money in ISAs and therefore there's more money moving around. Most organisations have this process pretty much buttoned up.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81943647#Comment_81943647

HSBC ISA

They do allow transfers in, there's an option to do it when you apply. I didn't go for this, I just want to deposit £20k on 6th April, but ticked the box just to see what comes next. There's only a handful of providers in drop down menu, only a fraction of what you normally get on Electronic Transfers list.

borderline

https://forums.moneysavingexpert.com/discussion/comment/81943647#Comment_81943647

I have HSBC current account, will it work if I send some money from my current account to another bank and then after some days send it back to HSBC to open an ISA? will I get the bonus?

nomorekids

https://forums.moneysavingexpert.com/discussion/comment/81946806#Comment_81946806

I would have thought so but I simply don't know for sure.

nomorekids

https://forums.moneysavingexpert.com/discussion/comment/81946753#Comment_81946753

I know, been waiting several of the 30 precious days already waiting for the paper transfer forms ;(

Rusty190

https://forums.moneysavingexpert.com/discussion/comment/81946896#Comment_81946896

You can download the form and print it off from the HSBC website.

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/81944942#Comment_81944942

Bonus payments

Correct me if I'm wrong, but I believe HMRC views one-off bonus/rewards payments as non-taxable.

p1ston

https://forums.moneysavingexpert.com/discussion/comment/81944284#Comment_81944284

Confirmation from hsbc web

"

8. How do rewards work if I am eligible for both the Premier Welcome Reward and the ISA Offer?If you’re a new customer and open a Premier current account, you can qualify for both the Premier Welcome Reward and the ISA Offer - provided you meet the separate eligibility criteria for each campaign.• If you pay in £80,000 to a savings or investment account and £20,000 into an ISA:—You would qualify for the Premier Welcome Reward (£250) by meeting the £100,000 total deposit requirement across savings and investments.—You would also qualify for the ISA Offer (£150) by depositing £20,000 of new funds into your ISA.—Total reward: £400 (Premier £250 + ISA £150).• If you pay in £100,000 into an ISA:—You would qualify for the Premier Welcome Reward (£250) by meeting the £100,000 deposit requirement (all in the ISA).—You would also qualify for the ISA Offer (£500) by depositing £100,000 of new funds into your ISA.—Total reward: £750 (Premier £250 + ISA £500)

Bridlington1

@Kazza242 Apologies if it's already been mentioned but the Plum Cash ISA is now flexible. Rate remains unchanged.

CuparLad

@Kazza242 Vanquis Bank have launched a triple access Cash ISA (Issue 5) @ 4.3% (Min £1,000)

https://www.vanquis.com/savings/isas/triple-access-isa/