Cash ISAs: The Best Currently Available List

10_66

owitemisermusa wrote: »

Thinking about Julian Hodge, any feedback from MSErs? Are they good/solid/safe?
Thanks.

Many have posted that they are fine to deal with (and are protected by normal FSA terms).

StuHolmes

Been using Julian Hodge for a couple of years, no problems, good rates and their customer service is first class.

owitemisermusa

Just seen the new Bank of Cyprus offering (FRISA). Never heard of them before now, are they fully covered by the FSA/UK guarantee? Signed up to the banking code?
Their website seems rather vague. Does anyone have feedback about them? Many thanks.
OMM

Stompa

owitemisermusa wrote: »

...are they fully covered by the FSA/UK guarantee?

No.

http://www.thisismoney.co.uk/savings-and-banking/ask-an-expert/article.html?in_article_id=481870&in_page_id=111

MarkyMarkD

There isn't an FSA guarantee. You are confusing two things.

Most financial institutions which take deposits in the UK are regulated by the FSA. Most financial institutions which take deposits in the UK are members of the FSCS.

Some (normally foreign-owned) financial institutions are not members of the FSCS and therefore their investors are not protected by the FSCS.

It is the FSCS which pays out if your financial institution goes bust - if it is a member. The FSA might regulate them - but it doesn't compensate anyone for anything.

owitemisermusa

MarkyMarkD wrote: »

There isn't an FSA guarantee. You are confusing two things.
Most financial institutions which take deposits in the UK are regulated by the FSA. Most financial institutions which take deposits in the UK are members of the FSCS.
Some (normally foreign-owned) financial institutions are not members of the FSCS and therefore their investors are not protected by the FSCS.
It is the FSCS which pays out if your financial institution goes bust - if it is a member. The FSA might regulate them - but it doesn't compensate anyone for anything.

Stompa wrote: »

No.

http://www.thisismoney.co.uk/savings-and-banking/ask-an-expert/article.html?in_article_id=481870&in_page_id=111

Thanks, followed the link and realise that they are not covered fully by the UK compensation scheme; partly by Cyprus, then the rest by the UK scheme.

Will be giving them a miss. Thanks again.

Kazza242

Info on the most recent updates made to the first post of this thread:

A number of providers have continued to withdraw their competitive fixed rate ISAs. The ISAs withdrawn include Principality Building Society’s fixed rate ISA, paying 4.20%, their 1 year fixed ISA, paying 3.20% and their 3 year fixed rate ISA, for over 50s, paying 3.80%. Bradford & Bingley have withdrawn their 2 year fixed rate ISA paying 3.75% and the Post Office have withdrawn their 1 year fixed rate ISA paying 3.20%.

Some providers have reduced their fixed ISA rates. Julian Hodge’s 1 year fixed rate ISA rate offering has fallen from 3.25% to 3.10% and Lloyds TSB’s fixed ISA rate has fallen from 3.20% to 3.00%.

Chelsea Building Society’s Postal 30 ISA rate has been reduced from 3.50% to 3.00%.

Bucking the trend to reduce rates, Stafford Railway Building Society are increasing their variable cash ISA rate by 0.25% across all tiers w.e.f. 01/01/2010. I have added the Stroud & Swindon Regular Saver ISA paying 3.75% to the first post. As the decent 1 year fixed rate ISAs are disappearing fast, the Stroud & Swindon regular saver ISA offers a competitive rate for those who don't have a lump sum to deposit at the outset.


:xmassign: To everyone on MSE. :xmassmile

10_66

Kazza: I'm looking to transfer a soon to mature fixed rate ISA, so was checking out your guide (thanks for this). On following your link for the Bucks Gold Rush ISA (120 day notice account @ 3.30%), which I thought I'd take out so that I could consolidate my others when they mature, I found that the minimum balance is £50,000 (not £1,000 as listed on your guide), so excludes me I'm afraid .

MarkyMarkD

Are they having a laugh? It is virtually impossible to have £50,000 in a cash ISA. Smells like a building society wanting a "best buy" listing to get the phone enquiries, before selling you something less attractive. Naughty!

jimbow25

I think you'd need the maximum contribution from every year since ISAs started, and probably something left over from the TESSA days, to have 50k wouldn't you? Fair enough there is a market for people with £30k+ in ISAs but 50k minimum is difficult as anything to manage. Not to mention encourgaing people to be a bit irresponsible, as you'd need to exceed the FSCS limit.