Cash ISAs: The Best Currently Available List

The_Enforcer

carpy wrote: »

anyone else transferring out of Ruffler like me?

been with them for a few years now as their rates have been one of the best for previous years money, however with all these base rates cuts their rate has fallen from 6%+ right down to 2.8%AER.

although this is still ok i'm going to move mine to a Natwest e-Isa @3.51%AER.

worth it i reckon for an extra 0.71% with no more base rate cuts likely (well it can't get much lower can it LOL:eek: )

Although this has been the best deal for the "transfers in and instant access" combo for some time, I've got this nagging feeling that as this rate was set on 2nd Feb, it's about to plummet to take account of the two subsequent BoE rate cuts.

MarkyMarkD

I was about to say that, The Enforcer.

Why do people seem to imagine that variable rates cannot move, simply because it's unlikely that BBR will fall further?

Two reasons why this is wrong:

- 1, many rates were set before the latest BBR reduction; and
- 2, institutions can cut rates whenever they like anyway if the rate is not a tracker.

The Banking Code only provides limited protection against rate reductions - well, in fact, none at all apart from requiring the institution to tell you they have happened, within 30 days of the reduction, if they are more than 0.25% worse than a BBR cut which happened in the preceding 60 days!

So, banks/BSs can "pass on" the 0.50% cut in early February until the start of April. And then they can go another 0.25%. That makes 0.75%.

They would have to reduce current rates by 0.76% to even have to write and tell you they have downgraded the rate.

And if they do so, your only rights are to close the account without penalty. Big wow!

manic_saver

I too was looking at the Natwest e-Isa @3.51%AER. Its 3.25%AER with a balance of £1-9999, after £10,000 its 3.51%. I've just been on the phone to natwest and asked if their rate would fall within the next month, unfortunately they could not tell me has they don't have information regarding a fall.

I am presuming that the rate will fall, but even if it does your still getting a good rate especially if you have over ten grand...which is not actually a bad account.

* Deposit of £1
* Transfers from another isa are acceptable
* No penalties
* Easy access to your money

I was considering the Halifax ISA Direct Reward which pays 3% fixed, but even if the natwest rate goes down it will probably be on par with the halifax isa.

decisions, decisions, :think:

Annpan

[quote=manic_saver;money

I was considering the Halifax ISA Direct Reward which pays 3% fixed, but even if the natwest rate goes down it will probably be on par with the halifax isa.

decisions, decisions, :think:[/quote]

BUT FOR HOW LONG?

gruner

bockster wrote: »

do we know if money is safe in bank of cyprus uk, ie the uk financial compensation thingy. if so so, sounds like a winner for me.
also do people think a transfer from ns&i will successfully happen before 30th of april?

thanks in advance

I would also like anyone's opinion on the Bank Of Cyprus UK, and if moving my ISA to them is just as safe as other high street banks here?

Baldur

gruner wrote: »

I would also like anyone's opinion on the Bank Of Cyprus UK, and if moving my ISA to them is just as safe as other high street banks here?

See http://www.bankofcyprus.co.uk/newsshow.asp?id=813

bockster

Baldur wrote: »

See http://www.bankofcyprus.co.uk/newsshow.asp?id=813

to avoid any hassle of claiming from o/seas, i,ve gone with halifax 3%fixed 1year.
hadn't noticed it in the table before, as it,s down near the bottom under;-
..........strict conditions..........

for the sake of 0.2% and available by phone and internet, looks good to me.

no limited issue that can cease anytime either, once you've applied the rate is held for 60 days so plenty time for transfers and next years allowance:T

Lokolo

The 60 days isn't for new cash.

bockster

Lokolo wrote: »

The 60 days isn't for new cash.

oh, thats what the nice lady told me! so how will it work? will i get 3% for next tax years £3600?

shrewsaver

There are some good offers/ rates on with Northern Rock, have just transferred my instant access Cash ISA there:

http://www.northernrock.co.uk/savings/isas/