Cash ISAs: The Best Currently Available List

dodo

Thanks for the info, it certainly saves an awful lot of time checking ads and brochures.
My problem is that I'm retired and need the interest to pay the bills and boost my pension. That means monthly interest.
I've got £14000 in B&B cash ISA's but haven't bought this years for me and my wife.
I need to keep things simple as the grey matter is getting slow, but can you advise on which would be the best account for us now?

Woodyrocks

Kazza, can you talk me through what an Equity ISA is and if it is something a novice like me can get their head around easily enough to dabble with.

Kazza242

dodo - The best monthly interest paying cash ISAs for you depends on your opening balance amount. Check out this Moneyfacts link.

For an ISA for this tax year select the 'New Mini Cash ISAs' option. Click 'Next' and then input the amount of money you wish to open the ISA with. Click 'Yes' to the 'Do you want to receive your interest each month?' option. Enter the other details, like age etc. then click 'Next'. Moneyfacts will list the best rates available based on the criteria you have selected.

For transfers in choose the 'Transfer an existing ISA' link and input the details as above.

ds1980

Kazza242 wrote: »

You can each deposit up to £3,000 into a cash ISA this tax year (provided neither of you have contributed to an ISA after April 5th 2007). ISAs are individual savings accounts so you would both have to complete application forms to move your ISAs to Northern Rock. Your partner will have her ISA while you will have your own separate ISA.

Even though interest rates are expected to rise next month, it isn't certain that higher fixed rate ISAs will be launched. Variable rate ISAs tend to follow BOE base rate, but fixed rate ISA rates are determined by the money markets. The Northern Rock 6.01% ISA is a very good option.

Kazza i know all that but can we transfer our existing £500 in each of our isa (which is basically the interest given in april) and then add £3k each on top of that as we havnt used our allowance this yearyet our can we transfer and then only add the remainder up to £3k?

Kazza242

Woodyrocks wrote: »

Kazza, can you talk me through what an Equity ISA is and if it is something a novice like me can get their head around easily enough to dabble with.

Check out this link from thisismoney.com it explains the steps involved in choosing an equity ISA (for those new to this type of ISA).

Here are some links from MSE too which should be helpful.

http://forums.moneysavingexpert.com/showthread.html?t=416337

http://forums.moneysavingexpert.com/showthread.html?t=430265

http://forums.moneysavingexpert.com/showthread.html?p=4800691

Kazza242

ds1980 wrote: »

can we transfer our existing £500 in each of our isa (which is basically the interest given in april) and then add £3k each on top of that as we havnt used our allowance this year yet

Yes, you can transfer your £500 to another ISA provider and then add £3K (each) to your ISAs using up your 2007/08 allowance.

ds1980 wrote:

..or can we transfer and then only add the remainder up to £3k?

You can transfer in your £500 and then add up to £3K each to your ISAs. As we all receive a £3K cash ISA allowance each tax year (rising to £3,600 from April 6th 2008).

haselden

Hi Kazza, I have all my previous years ISAs with A&L in their
Direct ISA 2, which as you know loses it's bonus after 30 April.

I've been watching this Thread trying to decide where to transfer
after that date.

The Abbey looks to be the best on offer, but I see from the Moneyfacts
link you gave that there is a limit of £36k on this account.

I will have over £38k to transfer in, not including the current year's
subscription.

Will I have to split the ISA to transfer anywhere?

foolsgold99

Has anyone gone for the Northern Rock ISA and transferred previous year ISA as well?

Kazza242

haselden wrote: »

The Abbey looks to be the best on offer, but I see from the Moneyfacts link you gave that there is a limit of £36k on this account.

I will have over £38k to transfer in, not including the current year's
subscription.

Will I have to split the ISA to transfer anywhere?

Hi haselden - Moneyfacts' information regarding the maximum that can be transferred into the Abbey Direct ISA is incorrect. There is no maximum amount that can be transferred in. Abbey confirmed this to me via e-mail and the Direct ISA terms and conditions also state that there is no maximum. So you could transfer your the whole £38K into the Abbey Direct ISA.

Direct ISA Terms and Conditions

18 Transferring in to an Super ISA, Direct ISA, Easy ISA, Postal ISA, Variable Rate TOISA and/or Choices ISA

18.1 If you have an existing cash Mini ISA, you can transfer all of it to a Super ISA, Direct, ISA Easy ISA, Postal ISA or Choices ISA.

18.3 We do not charge for this service, however your existing ISA Manager may apply an exit charge. There is no maximum amount that can be transferred.

Financial_Savvy

Hi, my and my partner are about to transfer out of A+L Direct 2 Isa (5.7% until end of month)

About to go with Abbey 5.75% 9over £9K)

I am sure there are others that will can the A+L Isa. Like they can drop the rate by 0.7% and MSE's will accept that.....

Has anybody moved from A+L to Abbey and got on ok?