Cash ISAs: The Best Currently Available List

ericpode

The table needs updating for the Swansea Building Soc transfer-in ISA.

Their web site has the following announcement:

ANNOUNCEMENT
"With effect from 11 January 2013, the Society does not accept ISA Transfers in"

ericpode

Looks like M&S ISAs are on the way down aswell

This from their present Cash ISA application form:

Please note that from 21 January 2013 we will no longer be accepting applications from new M&S Cash ISA customers to save in the variable rate M&S Advantage Cash ISA option. If you don't currently hold an M&S Cash ISA and wish to save in our Advantage Cash ISA option, please ensure that your application reaches us before 21 January 2013.


Additionally, the variable interest rate of our Advantage Cash ISA option will change on 6 March 2013. Up to 5 March 2013 the interest rate will be 2.75% AER/Tax free*. After this date you will receive the new variable rate of 2.25% AER/tax free*.


Issue 17 of our Fixed Rate Savings product will close shortly and a new issue will launch on 23 January 2013. If you wish to make a deposit at the current rates of interest, please ensure that your application reaches us before 23 January 2013.

innovate

and Coventry :-(

Coventry Building Society is set to withdraw its market leading 60 Day Notice ISA (2) paying 3.10% tax free/AER at close of business today.

http://forums.moneysavingexpert.com/showpost.php?p=58657957&postcount=1

Kazza242

Hi everyone.

I have amended the first post of this thread to reflect the recent changes to ISA rates. In addition, some new ISAs have launched this week and have been added to the list.

Both Halifax and Birmingham Midshires have launched new fixed rate ISAs paying an improved rate of interest.

Nick_C

*Cheshire Building Society's "ISA Saver" pays 2.5% on £1000+ until 31 July 14, allows transfers in and instant access.

http://www.thecheshire.co.uk/ISAs/ISA-Saver/

*A trading name for Nationwide BS.

10_66

Can someone explain to me, please, why First Direct rates show (for their £40,000+ band) 3% AER (2.96% tax free)? Why is there a difference betwen the AER and "tax free"?

Optimist

Academic wrote: »

Beverley Building Society is reducing its interest rate from 3% to 2.5% on balances of £35,000 and above (effective 1st Feb).

The rates remain unchanged for lower amounts (for details see Kazza's post on 1st page).

I was actually talking to them today and they said that they were inundated with requests to transfer in...Such is the power of Kazza thread

Consumerist

10_66 wrote: »

Can someone explain to me, please, why First Direct rates show (for their £40,000+ band) 3% AER (2.96% tax free)? Why is there a difference betwen the AER and "tax free"?

It's a technicality.

The monthly rate is 2.96% / 12 = 0.247% per month.

But that 0.247% interest in STRIKE]the first[/STRIKE any month will itself also earn interest in subsequent months so that the value after a year is 3% higher (not 2.96%) than the initial investment.

In short, the difference represents interest on the interest.

If you were to withdraw interest each month, the total paid would be 2.96% because the interest didn't earn any interest.

Hope that makes sense.

GreenBitterfly

Seamonster wrote: »

Can anyone answer a quick question about a Virgin Money Online E-ISA? I have one of these - originally opened with Northern Rock and automatically moved to Virgin when they took over NR - and it currently has an interest rate of 3.05%.

Virgin no longer offer an ISA with this rate, the current equivalent product having a rate of only 2%. Does anyone know if they will roll over my ISA into the next tax year with the higher rate, or will they convert it into the new, lower-rate product?


If the latter, I will start to look for alternatives.

Is it a fixed rate one or an easy access ISA?, as I have an easy access ex-Northern Rock ISA at 2.80% and the rate hasn't dropped as yet, and I've had no communication with them about it dropping either.

handy2

I had a lot of trouble setting up my HSBC e-isa last year. When transferring in from my previous ISA with another provider it was not possible to do it online and I was given wrong forms at the bank and had to make 2 separate appointments to see the manage. Big waste of time. I have withdrawn money this year but now I want to pay in again I get the error message 'We are unable to proceed 
with your request. Please select an option from the left-hand menu to 
continue. (456)". This has happened before and I never have time to follow it 
up. Today I googled my problem (HSBC's own FAQ section was no help) and saw many other HSBC customers 
have the same issue. It turns out the account need to be re-activated if not been paid into in the current tax year. I have 
telephoned to re-activate my account and am now told that I need to 
download another form online that has to be posted to the bank! This is ridiculous!! It is crazy that the error 
message is not more helpful - it should surely come up with more details 
of the error and what the customer needs to do - in this case it should 
have a clear link to the form the customer need to complete. I am very happy to have 
an e-isa and conduct my affairs online but if their website is so un-user 
friendly then I don't think it is fair to offer such limited support for the 
account. Either they need to invest in making their website easy to use 
and fit for purpose - customers should be able to use the website to do 
these simple transactions themselves! - or they should be offering more telephone 
support when there are such basic limitations. The final straw is that the form I have 
downloaded IS NOT EVEN WRITABLE ONLINE and I need to print a 
paper copy, then fill it in and send it to the bank!! This is a terrible service. It is an 
E-isa! WHY can't I complete it online!!! I understand that regulation/legislation requires certain procedures are followed but I strongly feel that they should offer telephone support to reactivate an e-isa (standard ISA's can be reactivated over the telephone) particularly given that their online support is so terrible in this area. Failing this it should be made very clear when opening an e-isa that if it is not paid into each year you will need to complete paperwork to reactivate it and wait several weeks each time to want to pay in. The type of customer who wants an e-isa is exactly the type of person who is trying to avoid this kind of paperwork hassle. Not good service at all HSBC.