Cash ISAs: The Best Currently Available List

MissyD_2

Kazza242 wrote: »

Coventry Building Society have increased the interest rate of their Poppy Cash ISA to 2.60%, as of 05/04/2013.

OMG!!! Kazza you are amazing!!!
(I missed your post earlier, only saw it after my last post on this re: ISA Transfer timing)

But just as an FYI for others whom are comparing best rates -
no-one else seems to be listing this ISA on comparison sites - e.g.
http://www.money.co.uk/savings/best-cash-isa-2013-14.htm

2sides2everystory

forevergrey wrote: »

Kazza, I'm a bit confused here. The new Nationwide Flexclusive and Easy Access ISAs are listed on page 1 as allowing transfers in, yet this seems not to be the case:

http://www.nationwide.co.uk/mediacentre/pressreleases/viewarticle.htm?id=2162

Not sure this is of direct interest to you but have you seen the discussion in the original Flexclusive ISA 4.25% thread and the more recent Flexclusive ISA Issue 1 thread?

Transfers in to existing Flexclusive ISAs are being allowed until 1st May - Nationwide left a loophole in the original Ts and Cs which they have now given written notice to close to all Flexclusive account holders as of 1st May 2013. The 4.25% rate is good until sometime in October I think.

sly_dog_jonah

MissyD wrote: »

Yes, of course using the ISA transfer process.
Ok, so I just need some clarification on ISA Transfer timing please...
Can I open say 2.5% ISA from Santander for New tax year starting tomorrow?
I need to transfer my previous ISA a bit later though, as I will get my last interest payment @ 3.01% tax free rate on 01/06/2013 (interest is paid monthly @ 3.01% AER until 30/5/13.
But on the ISA transfer form, in the Declaration section it says:
...
I'm ticking the latter option, so does that mean that I can still transfer my old ISA into this one but I don't have to complete & send this form immediately??
Sorry, but I have never done it this way before (I withdrew £2500 from Britannia Building Society [branch only access] on maturity and rate drop and sprinted to the Barclay's branch to deposit it, this was about 5 years ago!)

Effectively what you asking for is a delayed transfer of over a month hence, which as they state is not recommended - probably because there is a risk it will be actioned prematurely by either provider.

Delaying submission of the transfer request is an option, but there's the risk that the new ISA will stop accepting new transfers in between now and then. If that happens, you can open a new Cash ISA with another provider but NOT SUBSCRIBE any new funds to it, just transfer in existing ISAs.

In fact it is also possible to transfer your new ISA later in the tax year to a new provider, so long as you transfer that year's contributions in full. Any remaining allowance will be carried over to the 2nd ISA, but of course you will be limited to accounts allowing transfers in.

MissyD_2

sly_dog_jonah wrote: »

Effectively what you asking for is a delayed transfer of over a month hence, which as they state is not recommended - probably because there is a risk it will be actioned prematurely by either provider.

Delaying submission of the transfer request is an option, but there's the risk that the new ISA will stop accepting new transfers in between now and then. If that happens, you can open a new Cash ISA with another provider but NOT SUBSCRIBE any new funds to it, just transfer in existing ISAs.

In fact it is also possible to transfer your new ISA later in the tax year to a new provider, so long as you transfer that year's contributions in full. Any remaining allowance will be carried over to the 2nd ISA, but of course you will be limited to accounts allowing transfers in.

OK thank you so much a lot of clarity there!
So turns out this ISA is no longer top payer for new money, so I'm going with top payer different provider (*see first page of this thread*)
But may still need this for transfer of last years, so I can open this now and NOT pay any money as there is a transfer of an old ISA in excess of minimum £2500 deposit required due shortly?

Will it matter that I delay transfer purposely?
I've tried working this out from website no luck, also tried calling having gone through 2 numbers 50 x options, I get a recorded message about opening ISA online etc and then hangs up! no human to answer a query:mad:

forevergrey

2sides2everystory wrote: »

Not sure this is of direct interest to you but have you seen the discussion in the original Flexclusive ISA 4.25% thread and the more recent Flexclusive ISA Issue 1 thread?

Transfers in to existing Flexclusive ISAs are being allowed until 1st May - Nationwide left a loophole in the original Ts and Cs which they have now given written notice to close to all Flexclusive account holders as of 1st May 2013. The 4.25% rate is good until sometime in October I think.

Sadly I don't hold either of those, but thanks anyway.

silvercar

Kazza242 wrote: »

Coventry Building Society have increased the interest rate of their Poppy Cash ISA to 2.60%, as of 05/04/2013.

I just tried to open this online (existing customer) and the form printed out for 2013-14. I phoned the helpline and they said the poppy ISA is only for 2013-14. They have no ISA product for 2012-13.

sly_dog_jonah

MissyD wrote: »

OK thank you so much a lot of clarity there!
Will it matter that I delay transfer purposely?
I've tried working this out from website no luck, also tried calling having gone through 2 numbers 50 x options, I get a recorded message about opening ISA online etc and then hangs up! no human to answer a query:mad:

You're best off waiting until nearer the maturity of the existing ISA before opening a new ISA to receive a transfer (or transferring to an ISA you've already opened that is still accepting transfers in). A delayed transfer is likely to be even more hassle to organise than what you've already experienced trying to get a clear answer.

MissyD_2

silvercar wrote: »

I just tried to open this online (existing customer) and the form printed out for 2013-14. I phoned the helpline and they said the poppy ISA is only for 2013-14. They have no ISA product for 2012-13.

1st page on this sticky and Coventry both clearly state "This ISA is for the 2013/14 tax year"
http://www.coventrybuildingsociety.co.uk/savings-and-investments/cash-isas/cash-isa/Cash-ISA.aspx?tab=1

As the deadline is today, you will only be able to open one in a branch!
Having said that most banks/soceity's have been saying all applications by post/online since last weekend would be processed for the new year.

How much do you have of your allowance for year ending today??
Your best off starting here I think:
http://www.moneysavingexpert.com/savings/best-cash-isa
Specifically the "Last-minute 2012/13 cash ISAs" section in the first 1/4 of page.

Best way to use your ISA is to have maximum allowance earning interest for as long as possible, so depending on how much you have to deposit, you could start one for the new year & stick it all in watch the interest roll in until this time next year!

MissyD_2

sly_dog_jonah wrote: »

You're best off waiting until nearer the maturity of the existing ISA before opening a new ISA to receive a transfer (or transferring to an ISA you've already opened that is still accepting transfers in). A delayed transfer is likely to be even more hassle to organise than what you've already experienced trying to get a clear answer.

Normally I would have but since the rates are so !!!! poor, I was kinda wanting to grab a decent rate as I fear they will vanish within a few weeks:eek:

ajdj

If anybody has left it really late for 2012/2013 ISA then NS&I can be opened online or via telephone up to 11.59pm tonight.

They take payment via debit card so funds are deposited straight away.

Instant access paying 2.25%. You can always transfer away if you come across a better rate allowing transfers at a later date.