Cash ISAs: The Best Currently Available List

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/82176945#Comment_82176945

Transfers in allowed, according to Moneyfacts.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82176951#Comment_82176951

Just checked and indeed, unlike last time I tried, transfers in are now available.

The help text in the app says

The last two clauses worry me - why can't I transfer straight into the fixed 5% ISA?

It has been reported on another thread that internal ISA transfers are not working at ZOPA

https://forums.moneysavingexpert.com/discussion/6687360/zopa-isas

I have a Cash ISA that I would like to transfer (4.5%) but it has previous years' money within it. Believe Zopa's suggested workaround of moving to a non-ISA account then in again would not preserve the ISA status of previous year's allowance.

Slinky

Drat, I've not long transferred out of Zopa..

Slinky

https://forums.moneysavingexpert.com/discussion/comment/82176945#Comment_82176945

Just had a look and it says transfers in are allowed.

dcs34

https://forums.moneysavingexpert.com/discussion/comment/82177041#Comment_82177041

Do transfers in pay the same rate? I can't see anything on the product page suggesting they wouldn't, but sometimes if it's not explicitly said then the answer can be no…

Slinky

https://forums.moneysavingexpert.com/discussion/comment/82177148#Comment_82177148

I don't know. I just clicked on the button to open an ISA and read that you can transfer in. I didn't do anything more than that.

refluxer

https://forums.moneysavingexpert.com/discussion/comment/82177002#Comment_82177002

The last two clauses worry me - why can't I transfer straight into the fixed 5% ISA?

It may be something to do with Zopa's 'pot' system within their Smart Saver, in which individual accounts (eg. Regular Saver, Fixed Rate and ISAs) are just pots (without their own individual account numbers) and the default account (which your sort code and account number is actually assigned to) is the Primary Access pot. Payments into those other pots are all made internally from the Primary Access pot.

Judging by those statements, it looks like the Access ISA pot is the default pot that opens when you fund their Smart ISA with a transfer and you would then open a Fixed Rate pot and transfer across, although hearing that this isn't currently possible is a bit concerning.

If you do decide to go for it, it's worth knowing that all Zopa ISA pots are considered to be part of the same 'Smart ISA' (one ISA reference number covers all pots) and partial transfers out aren't allowed, which has penalty implications for the future when spitting ISA funds across different pot types (eg. Access and Fixed) and also fixes of different durations. (Stick with just one single ISA pot though and you'll be fine).

flaneurs_lobster

Judging by those statements, it looks like the Access ISA pot is the default pot that opens when you fund their Smart ISA with a transfer and you would then open a Fixed Rate pot and transfer across, although hearing that this isn't currently possible is a bit concerning.

Just did some playing around, opened the 5% Fixed and the 3.25% EA Access, funded the latter with £10 (direct from external CA) and moved cash from EA to Fixed.

So there does not appear to be any impediment to inter-ISA xfers.

30 days available to fund, anyone betting on another rate rise?

Slinky

I've parked recently maturing funds into EA for the time being, anticipating rate rises in a couple of weeks. Plus I'm consolidating accounts maturing on different dates.

andyhicks88

I'm hoping we get some EA upward movement because I have a Vida fixed maturing tomorrow and I don't really want to put it in another fixed, it's the first time in a few years I've had the opportunity to have some funds available to do something with around the new tax year when there's usually transfer offers and cashback ect so I'm wanting to wait it out until then so I have the funds if there are any offers I'm interested in. The trouble is that the EA offering is well below fixed term at the moment so am I basically going to lose in interest in the meantime what I'd potentially make from an offer anyway? Probably. So I'm in two minds.