Cash ISAs: The Best Currently Available List

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/81945981#Comment_81945981

I suspect anyone who knows the answer to this is sitting by the pool on a sun-kissed island somewhere sipping champagne.

It depends how much you value certainty. Fixed rates give you certainty, variable ones do not. What might look a reasonable assumption today might look stupid in three months time.

Just before Christmas I took out a two-year fix at 4.2% which at the time was market leading and based on where interest rates were going, that seemed like a decent decision. I'm now getting 4.5% easy access courtesy of Mr Trump's excursions, but if that all changes in a few weeks, interest rates might head down again. Meanwhile my 4.2% fix is pumping out predictable interest every month until the end of 2027.

Having a mixed approach is probably better than trying to guess the markets. The only certain thing about uncertainty is uncertainty.

Update

In an interview with Reuters, Bank of England Governor Andrew Bailey has said today -

(The market)'s still pricing us to raise rates. I would still say that is a judgement markets have to make but I think they're getting ahead of themselves.

The markets are currently predicting 44 basis points of rises this year, meaning two quarter point rises are no longer fully priced in. That's down from three quarter-point rises only last week.

Make of that what you will.

kyorin

https://forums.moneysavingexpert.com/discussion/comment/81945981#Comment_81945981

If you take out an ISA now with a rate of 4.81% (in the case of Etoro currently), the underlying rate will vary with the base rate (in either direction), but the bonus/promotional portion remains the same I believe. The promotions may change however, and providers may well not offer the same rates. Lock it in now, or soon perhaps.

Staffs2016

https://forums.moneysavingexpert.com/discussion/comment/81945981#Comment_81945981

Good question,

All I can say is that 'last year' I got the best rates out of six ISA's with a 1Y fixed rate with Gatehouse Bank of 4.41% in early May.

So I can safely say that 'last year' the rates improved for us and have my fingers crossed I can repeat the process this year as currently Gatehouse's rates aren't overly competitive.

winkowinko

I'm a little disappointed that Chip haven't upped their rates like they normally do around this time of year.

I transferred out 3 weeks ago (and closed all my accounts), thinking that they would offer something better for a 'new' customer by now. But no. No movement on the rates at all yet.

porcorosso

Anyone going for the Etoro 4.81% ISA?

porcorosso

Which ISA should I go for now? Im only getting 3.8% currently.

SnowMan

https://forums.moneysavingexpert.com/discussion/comment/81945838#Comment_81945838

ISA transfer Kent Reliance to Saffron:

26th March (Thursday): Saffron ISA opened

27th March (Friday): sent my ISA transfer form second class post to Saffron

30th March (Monday): Received a secure message from Saffron to say they've submitted the transfer request to Kent Reliance.

31st March (Tuesday): transfer to Saffron completed and transfer amount showing in Saffron account

I've also got an ISA transfer from Cynergy to Principality in progress at the moment. Principality submitted the transfer request to Cynergy over a week ago. But nothing has happened yet. In theory (ISA transfer guidelines) Cynergy are supposed to make the transfer within 5 working days but no sign of it happening.

SickGroove

Trading 212 Cash ISA bonus dropped from 4.68% to 4.58% today...

I managed to lock in the higher rate on Monday so have 10 days from that date to fund it, so can deposit in the new tax year.

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.