Cash ISAs: The Best Currently Available List

Woodyrocks

That's a shame Stuart. I am glad you jumped straight to your second option

p.s not sure how useful this tip is but I got a chequebook & debit card from A&L when I opened a c/a with them last spring and if i got one, pretty sure anyone else would! Might be worth applying...

Toreador

Kazza242 wrote: »

Once the cheque and application form have been handed over to Barclays by April 5th 2007, it doesn't matter if the cheque clears after this date just as long as they have it in their possession before the end of the tax year.

Is that true? Cos I just phoned Barclays, and they told me that it was too late even if I went to a branch in person. I'm quite prepared to believe that they got it wrong if someone knows for certain!

Kazza242

Toreador wrote: »

Is that true? Cos I just phoned Barclays, and they told me that it was too late even if I went to a branch in person. I'm quite prepared to believe that they got it wrong if someone knows for certain!

Yes, it is true. Barclays are probably introducing the cut off date themselves. Even if you can't get the Barclays ISA there are plenty of other providers that will allow you to use a cheque to open an isa with them before April 6th or if you have a debit card you could open the NS&I isa. The funds are taken the same day so your ISA will count for 06/07.

ruthd23

A quote from my Tax-beater ISA documentation which arrived this am from Barclays : "Interest is calculated on daily statement balances and is credited to the account on the first working day of each month and when the account is transferred or closed, if applicable", so the 6.5% is the AER, and 6.31% is what they use for thier ongoing interim calculations. It means if you left it there for a year it would equate to 6.5.

Ruth

sat1176

I have a question.

Can I open two new ISA's for 2007/2008?
For example take out a Tax Beater Barclays ISA for this years 3000 allowance.
Open the next best second ISA that allows transfers in and move all my savings into it from previous years.

The reason I ask is because the Barclays form asks your to declare that you will not subscribe to another Mini cash ISA in the same tax year that you subscribe to their isa.

KTF

Yes you can open one now and put in 3k then open another and transfer your existing ones.

By 'subscribe' they mean 'pay (new) money into'.

dodgydl

I currenty have an ISA with Nationwide paying 5.10% and am looking to transfer to a better interest rate.
Have not made any deposits yet for 2007/2008 tax year yet.

Here is the question which I would like to clarify:

Can I transfer my Nationwide ISA to a different provider accepting "transfers in" (ie Abbey direct ISA) just for a better interest rate and then still open a new ISA for "new money", say with Barcleys in this same 2007/2008 tax year?

jem16

dodgydl wrote: »

I currenty have an ISA with Nationwide paying 5.10% and am looking to transfer to a better interest rate.
Have not made any deposits yet for 2007/2008 tax year yet.

Here is the question which I would like to clarify:

Can I transfer my Nationwide ISA to a different provider accepting "transfers in" (ie Abbey direct ISA) just for a better interest rate and then still open a new ISA for "new money", say with Barcleys in this same 2007/2008 tax year?

Yes you can do that.

moneylover

I normally invest £3000 in my ISA at the beginning of each tax year and regard the investments as long term savings.
The past couple of years I have invested in fixed 2 or 4 year rates with the Halifax and now, of course, the interest rate I am receiving is well below what is currently on offer and I cannot transfer without substantial loss of interest. This had put me off long term fixed rate deals and I was planning a no notice account this year but with the current high fixes on offer I am now re-considering the options.
So am now dithering between Barclays 6.5%, the Derbyshire and Dunfermline 2 year fixes at 6% and the Northern Rock 6.01% or Halifax 6% for 4 years. On balance there seems no advantage in going for Barclays except that if a higher rate appeared I could transfer but that does seem unlikely.
In the last couple of tax years the highest fixed rates have disappeared very quickly but perhaps that may not be the case this year with another interest rate rise on the cards. On the other hand maybe this is already factored into the fixed rate ISAs.
I was suprised that there weren't more ISA ads in today's papers. Maybe more will come out of the woodwork on Tuesday.
Of course none of us has a crystal ball (unfortunately) but I would be very interested to hear the views of others who are in the fortunate position of being able to invest a lump sum now in a cash ISA.

Jane2112

My query is this, it states that Barcleys wont let you move money from one isa into their top rate isa. Is this from any other isa provider? Is there anything to stop me moving my money from the isa account into a deposit account and then using a cheque from that account to open a new isa?

Thanks in advance.