Cash ISAs: The Best Currently Available List

Kazza242

It's great to hear during today's Budget, that the Cash ISA allowance will remain at £20,000 for people of all ages.

Furthermore, the announcement of a 'Starter ISA' that the government will be devising alongside industry experts to encourage investment.

People need to be able to make their own decisions on ISA savings. Today's announcement is a positive step in the right direction.

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/82184121#Comment_82184121

It will be needed since Healey also announced another two percentage point increase in the tax on saving's interest from April 2027.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82184121#Comment_82184121

I'm wondering if part of the reason was the big changes needed to banks systems in order to deal with the proposed rules. It might have been a big pain to implement.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82184422#Comment_82184422

Changes for sure, but big ones? Don't think banks would have been enforcing the £12k max rule, no more than they enforce the current £20k one.

They just report the numbers to HMRC, who are the ones who would have needed to do the changes.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82184431#Comment_82184431

I was thinking more about the restriction in transfers between S&S and cash ISAs, and different rules for different age groups

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82184539#Comment_82184539

Ah yes, take your point. That's rather more work.

savit4l8er

https://forums.moneysavingexpert.com/discussion/comment/82183816#Comment_82183816

The 708 issue disappeared and there is no new replacement showing. I called Virgin on the off chance someone might have been aware of a new issue as once happened in the past, I was told no more will be available, Nationwide would be the option. So if that is the case, anyone who might be waiting with funds in a low paying matured ISA or double take 4.15 which is just about acceptable as a resting place, you might want to think about your options. Obviously do any checks yourself because not everything one person is told and posts on here is correct but there are sufficient options available for me not to wait to learn otherwise regardless. I was only hanging on to see if it was worth leaving anything there.

Edit.

Branch advise the same when using the ATM.

Zaul22

Nationwide fixes have all gone up to 4.75+ and since their rates are always terrible the small and medium banks should all be going up well above 5%.

savit4l8er

https://forums.moneysavingexpert.com/discussion/comment/82185453#Comment_82185453

Good point. As long as they are not just trying to take a few more funds in before dropping them again.

Certainly something to make you think though. 🤔 👍

GoodDealSearcher

The increase in tax on savings next year has prompted me to minimise taxable savings (I'm fortunate in being a higher rate taxpayer). I've been using Cahoot 5% for short term money for paying for stuff in a few weeks or months. But 5% now becomes 2.8% after tax. So just been looking for Flexible Easy Access ISA, to park short term money in. There are surprisingly few EA flexible ISAs. The best I can find is Tesco at 4.2% for a year before dropping. I'm not eligible for T212/Chip/Plum for newbies. Anyone aware of anything better - unlimited access, Flexible ISA? Thanks