Cash ISAs: The Best Currently Available List

foolsgold99

slipthru wrote: »

I'm wondering this too,as i am looking to move last years ISA to Northern rock and opening a new one with barclays.

To be honest slipthru if Northern Rock is more efficient at opening an account then I would be inclined to just open an ISA with them for this tax year to. It's only 0.4% less than Barclays.

derrick

foolsgold99 wrote: »

Has anyone opended up a Northern Rock ISA and tranfered existing ISA allowance. Seems like a good deal to me and was just wondering if anyone has any good/bad experiences with them?

I have done this, opened with a £3k cheque in branch 10th April,filled in transfer forms at same time, transfer took place 26th April, pretty painless, althiough I am on at them re the difference in "transaction date" and " Effective date" re the interest I feel I should not have lost, (7days),

stevec59

From what I recall, with Northan Rock, if you make a withdraw, then you loose 90days interest, although I don't intend to withdraw, you never know what will happen in the next 12 months, I think Abbey (5.75%) is a better bet.

Also, aren't interest rates suppose to be going up sometime soon, is it worth waiting for the raise, if the interest rate is Fixed then I presume it wouldn't go up with a BOE increase?

Thanks

Steve

foolsgold99

Thanks Derrick,
so Northern Rock sort out the transfer of the exsisting ISA? It says on the website that the customer has to tell their exsisting ISA provider:

"TRANSFERRING YOUR EXISTING ISA

If you already have an existing ISA with another provider and wish to transfer your ISA to Northern Rock, you will need to advise your current ISA provider who will then make the necessary arrangements.

We will require a completed application form and you can send this to us directly either with a transfer authority form or with a covering letter confirming your ISA is due to be transferred. Alternatively your ISA provider can forward the form to us together with the transfer documentation".

mleonard79

foolsgold99 wrote: »

so Northern Rock sort out the transfer of the exsisting ISA? It says on the website that the customer has to tell their exsisting ISA provider

Hi Foolsgold,

You will get a transfer form from your new ISA provider (Northern Rock) which you will need to send to your existing ISA provider so that they can transfer over the money (you can also hand it in at a branch for most banks.) This is so your money gets transferred and not simply withdrawn as that way you would lose the tax-free status of it.

Regards

Michelle

foolsgold99

Brilliant thanks, that's cleared that up. Think I'll go for that one then. Might just wait off until May 10th though just in case.

Gordon_the_Moron

Top list!

Da Moron

garryhq

Just a few months ago, Halifax Direct ISa used to be one of the best preforming ISas - but when the last 0.25% BOE rate increased the Halifax only passed on 0.05% which resulted in their ISA falling out of the best buy tables. My wife and I still have some funds invested with the Halifax and are intending to move when the dust settles. This year's allowance has been salted away with NSandI.
Does anyone have any idea why the Halifax would want to do this?

Kazza242

garryhq wrote: »

Just a few months ago, Halifax Direct ISa used to be one of the best preforming ISas - but when the last 0.25% BOE rate increased the Halifax only passed on 0.05% which resulted in their ISA falling out of the best buy tables...Does anyone have any idea why the Halifax would want to do this?

I think Halifax only increased their ISA Saver Direct rate by 0.05% last time, to 5.30%, because they were launching a 1 year fixed rate ISA paying 5.50%. Passing on the other 0.20% of the BOE increase to the ISA Saver Direct would equal the rate paid on their 1 year fixed offering. They want savers to commit their ISA money to them and not transfer out to other providers.

Halifax have yet to announce if they will be increasing their ISA rates following the May 10th BOE rate rise. However, even if they do increase rates by the full 0.25% they will still lag behind rates paid by Kent Reliance, Abbey and YBS.

obsessed_saver

I've transferred from A&L Direct Issue 2 to Kent Reliance! Hopefully KR will pass on the full 0.25% BoE rate! Otherwise, I'll be on the lookout to transfer to a new higher rate paying ISA provider!