Cash ISAs: The Best Currently Available List

purplestar133

Kazza242 wrote: »

If you are opening the Julian Hodge ISA with new money (i.e. this year's subscription), then the minimum opening deposit is £3,600. However, if you are opening the ISA with a transfer in only, then the minimum opening deposit is £3,000. So yes, your transfer balance must be at least £3,000.

You don't have to subscribe this year's allowance to them, you can transfer in previous years ISAs only.

If you are only intending on transferring in ISAs, then you only need to complete the Cash ISA Transfer form and Transfer Authority, according to the Julian Hodge website.

Thanks for clarifying!

shaz77_2

Hi All

I do not currently have an ISA, what are the best rates available to me? I want to save £2000 now and more when the new ISA terms come around in April.

Thanks in advance.

purplestar133

shaz77 wrote: »

Hi All

I do not currently have an ISA, what are the best rates available to me? I want to save £2000 now and more when the new ISA terms come around in April.

Thanks in advance.

Check the first post: http://forums.moneysavingexpert.com/showthread.html?t=401374

Baldur

shaz77 wrote: »

Hi All

I do not currently have an ISA, what are the best rates available to me? I want to save £2000 now and more when the new ISA terms come around in April.

Read through this post for the current 'best buys' of various types of Cash ISA and select whichever suits your personal circumstances.

pete1976

Hi,

I've got a couple of fixed rate cash ISAs with Julian Hodge bank which are due to mature in the next few days. As I now want to have instant access to the money I'm intending to transfer the funds to the Abbey Direct ISA. My only concern is that Julian Hodge only allow 14 calendar days to do this otherwise the money is tied up for 3 months!

I completed the Abbey application form online last night which gives a total of 20 calendar days to get this process done and dusted before my money's tied up. Does anyone have any experience of doing this? What are my chances?

Also another quick question. The first transfer will be worth about £10k so will qualify for Abbey's 3% rate. Can I then do a second transfer for the second amount (about £3.5k) and get 3% on the whole amount all in one place?

Thanks.

10_66

pete1976 wrote: »

...My only concern is that Julian Hodge only allow 14 calendar days to do this otherwise the money is tied up for 3 months!

I completed the Abbey application form online last night which gives a total of 20 calendar days to get this process done and dusted before my money's tied up. Does anyone have any experience of doing this? What are my chances?...

I think, if you ring Julian Hodge and tell them what you're intending to do (ie not re-invest with them), they don't hold you to the 14 days. The chances of any transfer completing within 14 days are extremely slim.

pete1976

10_66 wrote: »

I think, if you ring Julian Hodge and tell them what you're intending to do (ie not re-invest with them), they don't hold you to the 14 days. The chances of any transfer completing within 14 days are extremely slim.

Unfortunately I tried that this morning and they said the funds needed to be transferred within the 14 day period. Having said that I've found them to be fairly flexible in the past and I think if it was a day or two over they'd turn a blind eye.

Mind you, as I'm likely to need the money soon I might just decide to withdraw it as cash. Would make things much easier! Wish I'd realised about this 14 day thing before I invested.

bandana999

pete1976 wrote: »

Unfortunately I tried that this morning and they said the funds needed to be transferred within the 14 day period. Having said that I've found them to be fairly flexible in the past and I think if it was a day or two over they'd turn a blind eye.

Mind you, as I'm likely to need the money soon I might just decide to withdraw it as cash. Would make things much easier! Wish I'd realised about this 14 day thing before I invested.

Hmmmm... well I rang them this morning to complain about this. They informed me that "new ISA transfer guidlines stipulated that transfers should be completed within 14 days". Excuse me for laughing.
I told them this was unlikely to happen, and asked that if, just suppose, it took 15 days, would they then insist on hanging on to the cash at 1.5% for the 3 months notice?
"Yes", was the answer.
Another bank I won't be using again.
By the way, he also informed me all this was in the "terms and conditions", so it's all our own fault again.
I think withdrawing the cash and spending it might be the best option - why save? Spend your money and live on benefits.
I'm surprised it's legal to only allow a 14 day window to access funds after a fixed term, especially in an ISA .

cottager

I haven't ever used Julian Hodge so know nothing about their products or T&Cs, but 14 days doesn't appear to be mentioned here:
http://www.hmrc.gov.uk/isa/transfer-isa.htm
nor in the PDF guide for ISA Managers which is linked to (2008, so hardly 'new'), though must stress I didn't read through the whole 183 pages! Just searched quickly for instances of '14' or 'fourteen'.
Nor indeed here, where there are two specific paras on the 30-day rule under a general heading which includes the phrase 'Making it more difficult than it need be':
http://www.hmrc.gov.uk/isa/isa-bulletin2.htm

bandana999

Thanks for that cottager:beer:
Here are the Maturity T&Cs:

Maturity
Upon the maturity of the fixed interest rate, the interest rate will be changed to the prevailing variable Cash ISA interest rate. For a period of 14 days following this, a new fixed interest rate may be agreed (subject to availability), or the account may be transferred to another provider or you may close the account without notice. After this period of 14 days, the variable rate Cash ISA terms will apply.

Thing is, most variable rate Cash ISAs are no notice, and I certainly didn't expect to be forcibly put in a 3 month notce account after just finishing a one year stint!

Here is another interesting extract from their terms and conditions:

Withdrawals
For fixed rate Cash ISAs opened after 1st November 2002, you can transfer all of your account or make a withdrawal at any time by writing to us with full details of the request. The minimum withdrawal you are permitted to make is the full balance in the ISA. We may apply a practical implementation period of any length up to a maximum of 30 days following your request for a transfer/ withdrawal.

So, they can take 30 days, but they only give others 14 ??!!!!
Very fair.