Cash ISAs: The Best Currently Available List

SilverShopper

J-Greens wrote: »

..... Then I could swap both accounts to Santander (If they're any good) equivalent and actually make my money grow....

If you're looking to swap current account too --- have a look at Nationwide. They pay interest on the current account, cashback on the credit card and have a good (not the best) rate on the linked ISA. With only a limited amount in your ISA you may make more overall on the other elements of the package.

The saturday money pages always seem to have people moaning about Santander's service. I'm not sure I would trust them not to foul something up.

KTF

Personally I would go with Santander. A better current account product for my needs and higher rates on ISAs.

I switched to them in January and the whole process was complete with in 2 weeks. No issue since then.

ernie-money

michaels wrote: »

Are we waiting for anyone else to announce new rates before the end of the year?

I wonder this too - trying to decide whether to initiate switch to Santander 2 year fix, or wait. Is there any risk of Santander withdrawing the offer if I hold out a bit longer..?

innovate

SilverShopper wrote: »

The saturday money pages always seem to have people moaning about Santander's service. I'm not sure I would trust them not to foul something up.

I have had a 123 current account, and esaver and a fixed term ISA with Santander for the last year or so. No more problems than with any other bank or BS - just a whole lot more interest than anywhere else.

innovate

ernie-money wrote: »

Is there any risk of Santander withdrawing the offer if I hold out a bit longer..?

If the past is anything to go by, you can be certain that they will, in the near future, offer a new issue of this ISA, with a lower interest rate. I wouldn't panic into anything before about April 10 or thereabouts myself - this doesn't mean I have any information about how long they will keep their rates, or about any impending rate cut.

michaels

If I go with FD and xfer over 40k there and put in next year's alowance and then they drop the rate is it likely that I will be able to open a competitor product during next year and fund it only with a transfer in or do providors generally try and limit new accounts to new money and transfers? (I am right in thinking that whilst you can only deposit in to one ISA each year you can open and transfer in to as many accounts as you wish?)

innovate

michaels wrote: »

If I go with FD and xfer over 40k there and put in next year's alowance and then they drop the rate is it likely that I will be able to open a competitor product during next year and fund it only with a transfer in or do providors generally try and limit new accounts to new money and transfers?

it varies, you need to check the T&Cs

michaels wrote: »

(I am right in thinking that whilst you can only deposit in to one ISA each year you can open and transfer in to as many accounts as you wish?)

You can transfer previous years' ISAs as often as you like, and you can transfer some or all of your balance(s). Similar applies to any current year's ISA - you just must have the entire balance transferred.

Always check the T&Cs of you old ISA before requesting a transfer, to avoid any charges.

michaels

innovate wrote: »

...
You can transfer previous years' ISAs as often as you like, and you can transfer some or all of your balance(s). Similar applies to any current year's ISA - you just must have the entire balance transferred.....

Thanks Innovate.

However I thought with the current year ISA you were also limited to only paying in to one isa per year so if you say paid in 1k to ISA 1 then transferred that to ISA 2, closing ISA 1, you would then not be able to take advantage of the remainder of the allowance for that year as it was not permitted to pay new funds into ISA 2 having already paid in to ISA 1?

thenudeone

michaels wrote: »

I thought with the current year ISA you were also limited to only paying in to one isa per year so if you say paid in 1k to ISA 1 then transferred that to ISA 2, closing ISA 1, you would then not be able to take advantage of the remainder of the allowance for that year as it was not permitted to pay new funds into ISA 2 having already paid in to ISA 1?

No. In your example, any unused allowance from ISA 1 will automatically transfer to ISA 2, so you can continue to pay in to the new ISA, as long as the account remains open to new money. A few ISAs (usually fixed terms ones) won't allow any additional deposits after the initial one. Some ISA products are withdrawn from the market quite quickly and may prevent any more funds being added even if you have an existing account, so you have to be a bit careful.

superstar_2

The new HSBC e-ISA - is this available for new customers?