Cash ISAs: The Best Currently Available List

SnowMan

Nat West have increased the rates on their E-ISA by 1% so for their top tier (funds of over 30K) their headline rate is '3.50% AER' and for the lowest tier (up to 10k) the headline rate is '3% AER'

However the usual Nat West scam to mislead customers is there and this time the bonus of 1% only starts from the 15th or 16th of the month after the account is opened.

So it is hard to see how the 3.5% rate could be achievable unless your ISA transfer took at least more than a month to be implemented and even then who knows if they will treat the opening date as the date the transfer is implemented.

And if you are trying to subscribe this year's ISA allowance before 5th April you are bound to be caught out by the scam.

Shame on you Nat West. Will report this advertisement too as misleading here (the reporting form is currently not working and the FSA won't take information over the phone currently if you ring them) on the basis the AER which is supposed to represent the available return is not achievable.

purplestar133

Am I the only one that thinks Santander's 'bonus offer' of 0.1% if Rory McIlroy wins a golf major is bonkers?!

What's Rory McIlroy got to do with anything? Presumably they sponsor him...?

KTF

Yes, they sponsor him: http://www.belfasttelegraph.co.uk/sport/golf/rory-mcilroy-to-sign-deal-with-santander-16053638.html

p83

I have recently been sent a pre application letter from ING inviting me to take advantage of this offer for the new ISA year.
I called and asked for a better incentive as

1. This offer is available to all customers old and new.
2. There are now a few other banks offering more competitive rates.

They were not willing to price-match because their rate of interest is based on an average of the top high street banks.

I am now planning to transfer to the Nationwide offer at 3.10%.

Now where it says the rate will be continued until September 2012, will I be able to make a transfer to another bank once this interest rate has ended?

KTF

I have gone for the Santander 4% 2 year one over the phone as my existing ISA was with them and I wanted to transfer it.

Although it wasnt due to mature until the beginning of April they upgraded it over the phone to the new rate as its an instant access one so its now earning 4% rather than the 3.x is was currently on.

Took about 20 mins to setup as they had to read out all the legal t&c, explain the features, etc. (the call centre guys must get fed up of that after a while) but at the end of the call the upgrade was done and already showing online.

Will top it up with next years allowance in April then think about applying for the Zero account after 3 months.

Edit: Seems the Zero Current account has been pulled with the launch of the 123 account

Mandelbrot

KTF wrote: »

Took about 20 mins to setup as they had to read out all the legal t&c, explain the features, etc. (the call centre guys must get fed up of that after a while)

If that part of the conversation was entirely one-sided (like an audio-book ) then they might as well record it to an mp3 file (or equivalent) and just let you listen to that for a while (rather than the standard 'on-hold' mood music/"thank you for holding ..." message).

KTF

Well, its a mixture of them reading the legal stuff, account info and recorded messages with questions along the way to make sure you haven't wondered off or fallen asleep I remember going through the same pain when opening the 'secret' Lloyds saving account for Vantage holders when they cut the rate.

They also offer you the option of having a long recorded message if you are some sort of masochist and wanted to hear more after the short message they play first.:)

Aside from this (which is the same for all banks) no complaints so far. Went straight through as well on the 0800 number on the website.

innovate

KTF wrote: »

Although it wasnt due to mature until the beginning of April they upgraded it over the phone to the new rate as its an instant access one so its now earning 4% rather than the 3.x is was currently on.

Are you sure you weren't penalised for early redemption of your old ISA?

KTF

innovate wrote: »

Are you sure you weren't penalised for early redemption of your old ISA?

Yes, its an instant access ISA so could be moved at any time. The first of April was when the bonus ran out of it. Same as this one only an earlier version:

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237851469036&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2

PowerSavingMode

I've just successfully 're-designated' my existing Halifax ISA (2.6%) to the new 3% one, as per above.

I phoned the usual savings line -- 08457 26 36 46 -- and, after going through security, was put through to the online team, who upgraded my account with the new interest rate straightaway. The same account terms remain in place.

She also told me that the fixed bonus of 2.75% was payable from today's date (when I upgraded), and to check around April to see if there were any better interest rates with Halifax.

Hope this helps.