Cash ISAs: The Best Currently Available List

Xenon

Ford Money Flexible Cash ISA transfer to Newcastle BS Base Rate Tracker ISA

Transfer took only a few days - not the best rate but suits my needs.

dibbles212

Are there any flexible ISAs with unlimited instant withdrawals paying 4% or more?

I've seen the Newcastle/Manchester trackers above 4% but suspect withdrawals aren't instant.

ToastLady

https://forums.moneysavingexpert.com/discussion/comment/81968928#Comment_81968928

https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate&id=null&business-type=16&activity-type=null&investment-amount=20000&investment-type=1&account-types=64&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=1&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=1&existing-customers-only=2&is-shariaa=2&joint-account-only=2&flexible-isa-only=1

I think T212 may be instant, but never having used them, I can't confirm.
Tesco at 4.06% is instant, but lower rate. Unsure of others in between.
Tandem is instant at 4%.

dibbles212

https://forums.moneysavingexpert.com/discussion/comment/81968939#Comment_81968939

Thank you. Maybe I'll go for Tesco then as I can't get the bonus rate for T212 anymore.

Gambler

YBS 4.05 but withdrawals are not instant. Next day.

londoner62

Apologies, but I need some help with the maths.

I'm thinking of transferring an 11k pot when it matures at Santander in 13 days to First Direct (earning a paltry 2.75% AER). There is a £100 bonus for leaving it in First Direct until the end of July. That'll mean 11k in First Direct for 96 days.

Am I correct in thinking that if I pull the funds from First Direct at the start of August, the actual AER in this instance would be about 6.1%???

I cannot see where I am mistaken; please help!!!

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81969031#Comment_81969031

Too hard.

Work out your absolute earnings at FD (11,000 * 0.0275 * (96/365)) then do the same for whatever account you'd put the funds into otherwise. No need to try and work out AERs.

friolento

https://forums.moneysavingexpert.com/discussion/comment/81969031#Comment_81969031

The AER remains the same regardless of when you withdraw your money.

In 96 days, your £11,000 will earn £79.56 in the 2.75% FD account, plus you get £100 = £179.56. To make the same amount without a bonus, you’d need a 6.2% ISA, something clearly unavailable at present. Although it’s worth remembering that the bonus money will not be added to the ISA but gets paid into your FD current account.

If you did put the £11,000 into a 4.3% account (Vanquis for instance) for 96 days, you would get £124.49.

So you’re in theory £55.07 better off with the FD deal. In practice, it will be a somewhat less as you won’t be able to get an ISA transfer completed on day 97 (not least because this is a Saturday), and as you will might not get the £100 bang on July 31, you might want to wait with the transfer request until you have seen the bonus deposit

badger09

https://forums.moneysavingexpert.com/discussion/comment/81968553#Comment_81968553

I can confirm that I was not charged any penalty. The letter dated 17th April clearly states ‘you can upgrade your FRISA up to 28 days before maturity and the interest rate will change straight away’. Interest, within a couple of £ of my rough calculation, appeared the following day.
In my experience Santander’s chatbot Sandi is useless and I’m not surprised front line staff don’t know about this feature. I’m not aware of any other provider who allows this.

I did everything in the app and have now persuaded husband to download the app & xfer an external maturing ISA which will generate £200 in vouchers and £150 more interest than another fix with his current provider.

londoner62

Thanks friolento & flaneurs_lobster for confirming my numbers.

Looks like I have no real choice other than to take this offer and then look for the next move after my FD current account is credited! Hopefully back to Santander!!!