Cash ISAs: The Best Currently Available List

Consumerist

purplestar133 wrote: »

. . . I am not opting to have interest payments paid out (I am taking the variable rate option, not the fixed rate and "interest will be automatically credited to the Advantage cash ISA option annually"), so that's why I'm wondering if I need to fill this section in. Bit confused by the wording!

The short answer is yes. This requirement is fairly common and, as I said earlier, they will probably not open the ISA unless you provide an account for withdrawals - even if it is not your intention to make withdrawals.

Vortigern

Looks like Santander have just dropped the rate on their 2-year fix from 3.1% to 2.5%. Available to 123 customers only.

purplestar133

Consumerist wrote: »

The short answer is yes. This requirement is fairly common and, as I said earlier, they will probably not open the ISA unless you provide an account for withdrawals - even if it is not your intention to make withdrawals.

Thanks, I'll do that. I think I'm incapable of transferring my ISA without asking for help on these forums and I've been doing it years!

innovate

Vortigern wrote: »

Looks like Santander have just dropped the rate on their 2-year fix from 3.1% to 2.5%. Available to 123 customers only.

Bl**dy hell, this is a massacre! No chance we are going to see really good rates in April.

molerat

Vortigern wrote: »

Looks like Santander have just dropped the rate on their 2-year fix from 3.1% to 2.5%. Available to 123 customers only.

Glad I didn't wait around thinking about it and got account opened last week !!

bryanb

Consumerist wrote: »

The short answer is yes. This requirement is fairly common and, as I said earlier, they will probably not open the ISA unless you provide an account for withdrawals - even if it is not your intention to make withdrawals.

Just opened an M&S variable ISA. Today I received a letter requesting verification of my account details given on opening a/c, they want a statement, cheque, or paying in slip. to prove that the account they collected the opening cash for my ISA from is really mine. Further, they say that withdrawals before verification by them will be by cheque to me. Belt and braces going on here!
Why would I be likely to give false details for the account to get my withdrawals paid to?

innovate

probably just a random check so they can prove that they are complying with anti-money-laundering legislation. Send them what they want and they'll leave you in peace.

purplestar133

bryanb wrote: »

Just opened an M&S variable ISA. Today I received a letter requesting verification of my account details given on opening a/c, they want a statement, cheque, or paying in slip. to prove that the account they collected the opening cash for my ISA from is really mine. Further, they say that withdrawals before verification by them will be by cheque to me. Belt and braces going on here!
Why would I be likely to give false details for the account to get my withdrawals paid to?

Yes, I've just sent off the transfer form to M&S. It says if the account you would make withdrawals into is different from the account you're paying your deposit from, you need to show the proof you're quoting. As I'm transferring in from another provider, I've sent a paying in slip as proof of my current account details. Hope that's sufficient .

Are you paying the opening deposit in from your own non-ISA account, i.e. not transferring in? The guidance notes say you don't need to provide proof of that if it's the same account you've quoted for withdrawals to go into.

innovate

Seems the 2.5% TESCO ISA has escaped our attention so far.
http://www.tescobank.com/personal/finance/savings/isa-accounts/cash-isa/instant-access-isa.html

It's instant access, 2% variable + 0.5% bonus for 12 months, min deposit £1. Transfers-in allowed.

apt

The Britannia 2.62% fix until November 2014 is being withdrawn on Thursday 10 Jan at 5pm. http://www.britannia.co.uk/_site/channels/savings/tax-free-savings/2yr-fixed-rate-cash-isa/index.html