Cash ISAs: The Best Currently Available List

gwapenut

Those jokers at Saffron are already reducing their interest rate, from 4.50% to 4.35%. 3 months may seem like a reasonable time to maintain it, but when interest rates haven't readuced, and when they routinely spend a month transferring in from other ISAs languishing at maturity rates, it simply wasn't worth all the hassle.

I will never trust them again with an ISA transfer, they're just too slow and bait-and-reduce.

SaveTheEuro

https://forums.moneysavingexpert.com/discussion/comment/82052738#Comment_82052738

Agreed. Very poor show by Saffron.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82052742#Comment_82052742

All very well, but where are you going to move your money to?

qbadger

What about Monument? The rate is only 0.01% lower, but it's flexible and allows instant deposits and withdrawals.

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82052745#Comment_82052745

I didn't say I was going to move my money. I said I wouldn't trust them with an ISA transfer (from a low paying maturity account)

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82052757#Comment_82052757

Yes monument is interesting but we on this thread have been here before with them, and they're also quick to slash once they're fully funded.

pecunianonolet

Second that, poor show by Saffron.

While 4.5% is a competitive rate for easy access, albeit not flexible, they took their time with transfers in blaming other providers and sit on the form for at least 5 days before they even submit to the old providers. They proudly tell you they backdate interest but the arbitrage between old provider and new provider while in transit is a "loss". They should at least have given those who just managed to complete all the thransfers some time to benefit from the rate. There was no market movement whatsoever.

Also strategically positioned now with 0.01% ahead of Monument at 4.34% with monthly interest and flexible. I'll keep my funds with Saffron and let's see what the market will look like mid-end of July.

Money_Stitch

https://forums.moneysavingexpert.com/discussion/comment/82052738#Comment_82052738

Agreed. It took them from end of March to late May to complete my transfer. I've had the account up and running only really for 5 weeks, 7 in total when the rate changes. No change to the BOE rate, no real justification given the debacle on launch and the fact others are not reducing. Yes I know it's a variable account but they are simply not equipped to handle this bait and switch.

It's sullied their name for me. The inevitable exodus will no doubt swamp them. If they take more than their allowed 5 days to transfer out, it will be FOS this time from me after giving them a free pass on the delayed transfer in.

Very poor operating decisions. Very disappointing.

2010

Coventry Isa fixed until 30/9/27 4.6%.

OrangeBlueGreen

+1 at being disappointed with Saffron. As others have said there has been no change in BOE rate and it has felt like a waste of time with their delays, just 3 months of the rate is poor. This was my second chance with Saffron, won't consider them again and bait-and-reduce sums it up well.

https://forums.moneysavingexpert.com/discussion/comment/82052738#Comment_82052738