Cash ISAs: The Best Currently Available List

charlie12525

West Brom Fixed Rate ISAs

I opened a couple of these last night. The ones I opened are now NLA.
I phoned them today and they said that it was not possible to request an ISA transfer in to an NLA account if you had not already provided the ceding ISA details during the application process.
Scuppered my plans to put in an additional ISA transfer in request.
Might be useful info for someone.

username2026

https://forums.moneysavingexpert.com/discussion/comment/82140425#Comment_82140425

It wasn't clear from their terms and conditions so I wanted to be sure, so I asked their support team and that's what they said to me.

Washakie

https://forums.moneysavingexpert.com/discussion/comment/82141369#Comment_82141369

I am in the same boat - opened an 18 month ISA last night with them and got an email saying the account would be open within 3 - 5 working days. This morning I discovered the account was NLA. The terms of the account specifically states you cannot pay into it once it is no longer on offer. Complete waste of my time. I was planning to transfer an ISA I have with Virgin that matures next week.

fuzzzzy

https://forums.moneysavingexpert.com/discussion/comment/82141525#Comment_82141525

When I saw the West Brom 18 month account had gone NLA today I was kicking myself for not having opened one yesterday. Thanks both for posting as I feel a little better now as I would not have been in a position to give transfer details yesterday, and so it would have been a waste of time.

Unusual, as most providers I've had dealings with will still allow you to transfer funds once the account is open as long as instruction is given within their funding window.

gravel_2

https://forums.moneysavingexpert.com/discussion/comment/82141525#Comment_82141525

The terms are pay in within 14 days from opening or within the account's open application period, whichever is longer. So you should still have 14 days from when your account opens to pay in. The terms are unclear about how transfers interact with the deadline. You may want to call them up and find out whether an initiated, but incomplete, transfer is enough to a) meet the payment deadline and b) prevent the automatic closure of the account which is also stated in the terms.

Washakie

https://forums.moneysavingexpert.com/discussion/comment/82141582#Comment_82141582

Thanks for that - I will keep my fingers crossed then. I didn't select the ISA transfer option when I applied yesterday, instead hoping to do it once the account was up and running. Has anyone transferred an ISA from Virgin to West Brom and if so how long did it take?

charlie12525

https://forums.moneysavingexpert.com/discussion/comment/82141525#Comment_82141525

West Brom Fixed Rate ISAs

Why didn't you enter the Virgin details during application? The transfer would then have been accepted.

charlie12525

West Brom Fixed Rate ISAs

According to my phone chat with them, if the transfer is not initiated during account application then it will not be accepted if that account is NLA. The 14 day pay in window is still available for new money.

charlie12525

https://forums.moneysavingexpert.com/discussion/comment/82141617#Comment_82141617

Sorry, I think you are out of luck.

gwapenut

Just a sensecheck for my piece of mind in case I've missed something. I opened a Shawbrook 5 year fix at 4.17% in March of this year, with £1k for similar defensive reasons to allow me to fund new money at 4.17% for the next 5 years (how rate expectations have changed since then!)

I plan to open the new 5.25% fix and transfer in from the existing Shawbrook ISA. This will cost me about 4.17% penalty. But (ignoring compounding) after 4 years on the new rate I will have recovered that loss so it makes sense to do an internal transfer rather than open a second?