Cash ISAs: The Best Currently Available List

flobbalobbalob

https://forums.moneysavingexpert.com/discussion/comment/82038257#Comment_82038257

Full marks to Vanquis then. My transfer was just before midnight without the interest for that day. The Vanquis online statement showed the transaction as on the following day but with a note against it saying deposited the previous day. If that makes sense :)

SnowMan

https://forums.moneysavingexpert.com/discussion/comment/82038257#Comment_82038257

Absolutely. I'm fighting the loss of 5 days interest during an ISA transfer. My ISA transferred on 2nd April and I've got a leaving statement showing the money leaving my account on 2nd April with interest paid up to 2nd April and the account had disappeared from my log in when I checked on 3rd April. However the receiving ISA provider who claimed that they would backdate interest to the date the transfer was processed have paid interest from 7th April. When I pointed out their error they have said it was all processed on 7th April despite this not being the case. We will see if I have to take them to the Ombudsman. Meanwhile the original provider are supposed to be providing me with the date and time of the transfer; if they fail to do this then another complaint to them will be going in.

masonic

There is only "best practice" when it comes to loss of interest on transfers. Some providers have explicit terms stating they will only pay interest from the date the funds have been applied to the account and cleared.

Rosa_Damascena

https://forums.moneysavingexpert.com/discussion/comment/82038257#Comment_82038257

"Sitting on a form" is unforgivable whene tech permits instant transfer (or in practice, transfer within a day). Old fashioned customer service should not be confused with efficiency! Paper is a big red flag.

epm-84

Even when it's electronic there's providers who claim they received the funds 2 working days after the old provider confirms they were sent. If it happens to be sent on Maundy Thursday then it's almost a full week between it being 'sent' and 'received'.

As I've mentioned previously Tembo point you to their updated T&Cs which say you won't hold us liable for losses if your ISA transfer is delayed.

SnowMan

https://forums.moneysavingexpert.com/discussion/comment/82038629#Comment_82038629

Don't want to name the building society but they have now accepted that they committed both in a recorded phone call and in writing to pay the interest from when the transfer was processed and paid and not from when it was received, and they accept it was processed on the 2nd April. They have also paid me a small goodwill payment.

GetRichOrDieSaving

Bank of England base rate held at 3.75%.

Rosa_Damascena

https://forums.moneysavingexpert.com/discussion/comment/82039759#Comment_82039759

We will be seeing the impact of Iran for at least the next year. I would be surprised if the BoE could resist raising the base rate after the summer.

Angelica123

Just got my notification from Kent reliance re my fixed ISAs moving to new platforms (and therefore losing the ability to add further deposits to fixed terms). I know it was always a generous perk to have but can't help feel a bit annoyed as I'd opened some fixed ISAs with KR specifically because of the additional deposit perk.

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82041464#Comment_82041464

I'd have thought if they are changing the product terms and conditions, you might be entitled to exit the fix early free of penalty. Might be if interest as fixed rates have risen recently