Cash ISAs: The Best Currently Available List

fuzzzzy

https://forums.moneysavingexpert.com/discussion/comment/82142702#Comment_82142702

Thanks, it is good to know they must have updated their systems to allow it.

That was not the question me and charlie12525 were wanting an answer to though. That question was:

"So can you open the Shawbrook fix without specifying a transfer in, and then give transfer in details later (within the 14 days) in online banking? Or do you have to post a transfer form?"

savit4l8er

I'm sorry, it just seemed as though you wondered if you still had to call, I must have misunderstood.

Having just looked, the only option I can see is Add Money and it takes you to a page instructing you to send money from a linked account with instructions to use the details below it, name, s/c and a/c No.

I cannot see any ISA transfer in options but happy to be corrected.

2010

Shawbrook,I would guss you need to fill in a form because they do have them to download.

https://www.shawbrook.co.uk/media/d1vm4r2e/isa-transfer-form-120526.pdf

Or maybe be able to do it over the phone, if you can ever get through.

slinger2

https://forums.moneysavingexpert.com/discussion/comment/82142120#Comment_82142120

One advantage of keeping the old ISA is that your exit penalty is capped at 4%. If 5-year rates rise further to, say, 6%, you could still get out with just the 4% penalty. If you move it'll cost you 4% and if rates increase further you'd have another 5% penalty to get out of the new one.

moi

https://forums.moneysavingexpert.com/discussion/comment/82142277#Comment_82142277

Sorry @fuzzzzy for not replying sooner.

Shawbrook transfer in an ISA within 14 days.

"So can you open the Shawbrook fix without specifying a transfer in, and then give transfer in details later (within the 14 days) in online banking?

YES…

 

So the DIY online is only there when applying.

Last year they told me by online message they’d accept within 14 days. This year, the chat-bot messaging system tells you that, and doesn’t even need to redirect you to a human.

You just need to secure message them the basics. The chat box tells you. If the other provider is a member of the quick transfer thing, no form needed. They just do it from a DM.

No lengthy phone call needed.

If the other provider is one of the older form types, then Shawbrook will tell you and you can email them a form.

PS, edit:

If you go into the messaging, this is their instructions. This doesn't mention a form might be needed/emailed. That was my experience last year.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82142761#Comment_82142761

Good point, and as there's only a slight gain by transferring to the 5.25% I'd be inclined to keep the money where it is for now.

fuzzzzy

https://forums.moneysavingexpert.com/discussion/comment/82142797#Comment_82142797

Thanks. Is that messaging in the screenshot not out of date though? It says:

"Please note, you can only fund one ISA with the current year's subscriptions at Shawbrook"

My understanding, and that of other posters, is that you can fund more than one ISA with Shawbrook a year, splitting your subscription between ISAs of different term lengths.

moi

https://forums.moneysavingexpert.com/discussion/comment/82142913#Comment_82142913

That screenshot is from just 2 days ago! TBH I was more focused in the 14 days transfer bit.

I was planning to deposit an opening £1000 in by transfer from past years elsewhere (unsure if that provider is part of the 'electronic scheme',) but haven't messages Shawbrook yet.

Angelica123

https://forums.moneysavingexpert.com/discussion/comment/82142834#Comment_82142834

Alternatively, if you are sure that you are going to transfer out of the 4.17% fix either way. If you have an easy access cash ISA that's earning above 4.17%, you could move it there and wait for see if something better goes along. If it doesn't then you can transfer it to the 5.25% 5 year cash ISA before 90 day funding window is up.

slinger2

https://forums.moneysavingexpert.com/discussion/comment/82142926#Comment_82142926

However if interest rates fall suddenly, having it an easy access account is the worst option. You've paid the 4% penalty but your interest rate is perhaps not much higher than the 4.17%. Obviously, in that scenario, putting it in the 5.25% would have been a good option too. If only we could predict the future.