Cash ISAs: The Best Currently Available List

friolento

https://forums.moneysavingexpert.com/discussion/comment/81998193#Comment_81998193

Yes, it is possible to transfer more than one ISA (incl all accrued interest) into a single ISA. Ask the provider to do it for you, do not move the money yourself. You find ISA transfer request forms on the providers' websites / apps.

Unless you are in a fixed term ISA, you can transfer without penalty any time you like. You don't have to wait until the next tax year.

There is no limit to the amount you can transfer. The £20k / £12k is your annual allowance for new funds only, nothing to do with your existing cash ISA savings.

Blackbriar_040

Vida Savings 1- year fix (4.65%)

Not far off the top offer from Al Rayan/Meteor

Allows Transfer in, plus accessible via App!

friolento

https://forums.moneysavingexpert.com/discussion/comment/81998207#Comment_81998207

Meteor Asset Management Limited is a UK-based financial services provider headquartered in London. Al Rayan is a UK-based bank also headquartered in London.

Meteor provides a concierge service which you may or may not like. When you apply for an ISA transfer, they will transfer your ISA from your old provider into a Meteor account. Only when the money is in Meteor can you then select which ISA you want it to go into. You don't get interest whilst the money is sitting in Meteor, so you have to be on the ball and watch the transfer. They are quite quick in my experience but a lot will depend on the speed of your old ISA provider. The allocation to your chosen ISA should be completed within one business day. I am not sure whether you have FSCS protection whilst your funds are sitting in the Meteor account but once allocated to your chosen ISA, you get the FSCS protection of that ISA provider. Al Rayan have full FSCS protection.

I have no experience yet with transferring an ISA out of Meteor.

TM74

https://forums.moneysavingexpert.com/discussion/comment/81998241#Comment_81998241

👏thanks for that information

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81998193#Comment_81998193

Yes - According the the Cash Isa Rules set at the present going forward. You can request a transfer previous tax years Cash ISA's to a new provider(s) in 2027 and add the new limited 12k for the next tax year to the total, providing the new provider(s) accepts transfers in.

What you won't be able to do is to request a transfer of monies from / between a S&S / Investment ISA and a Cash Isa; even if you are presently able to manually transfer between the 2 types of ISA accounts on one platform i.e. trading212, as of 6th April 2027. Although this is as of yet, to be fully confirmed, it's been on the table for months 🤨. The other potential additional twist in the tale is that stocks sold within a S&S Isa with the cash then held within a S&S Isa account that attracts interest; as from 6th April, 2027, the interest on the cash will apparently be taxed in a so called 'Tax-free' Isa wrapper? - Once again, this has yet to be confirmed, but it's been on the table for months 😶.

jungleboy123

https://forums.moneysavingexpert.com/discussion/comment/81998161#Comment_81998161

Do you actually get the 4.7% in the end due to how sharia banking works? Never used an islamic bank.

soulsaver

https://forums.moneysavingexpert.com/discussion/comment/81998355#Comment_81998355

A guide to expected profit | Islamic banking | Sharia compliant & ethical

"If, for some reason, the Bank were unable to meet the expected profit rate it had quoted on its fixed term deposit products, the customer would be notified and given the option of ending the agreement, with their original deposit and profit earned to date intact, or they could accept a lower “expected profit rate” moving forward."

Since launch in the UK in 2004, Al Rayan has never failed to pay the initial profit rate for the full term.

p1ston

https://forums.moneysavingexpert.com/discussion/comment/81996710#Comment_81996710

Just popped it in the Royal Mail. Great to know there's still mighty generous people like you.

ToastLady

https://forums.moneysavingexpert.com/discussion/comment/81998378#Comment_81998378

Can only agree. Been with Al Rayan for a good few years now, and they have never failed to deliver on their profit rate.

p1ston

https://forums.moneysavingexpert.com/discussion/comment/81998909#Comment_81998909

It's the pretence though. They call themselves islamic but they do about 20 contorsions and it "turns out" they are "not lending" which it seems to be forbidden to them.