Cash ISAs: The Best Currently Available List

njp6

Just a heads up to anyone looking to open this ISA had it from head office that the rate is changing to 1.5% on the 1st of Feb 2014 just the same as the Flexclusive 1 account. Info obtained when I complained that they were not treating their loyal savers fairly!

badger09

njp6 wrote: »

Just a heads up to anyone looking to open this ISA had it from head office that the rate is changing to 1.5% on the 1st of Feb 2014 just the same as the Flexclusive 1 account. Info obtained when I complained that they were not treating their loyal savers fairly!

Announced some time ago see post 1339 onwards

https://forums.moneysavingexpert.com/discussion/3886753

Archi_Bald

badger09 wrote: »

Announced some time ago see post 1339 onwards

https://forums.moneysavingexpert.com/discussion/3886753

Post 1339?

I think njp6 might be talking about the currently available (to new subscribers) issue of the Flexclusive ISA, which wasn't available last April so a rate cut for it couldn't have been discussed back then.

badger09

Archi_Bald wrote: »

Post 1339?

I think njp6 might be talking about the currently available (to new subscribers) issue of the Flexclusive ISA, which wasn't available last April so a rate cut for it couldn't have been discussed back then.

My bad

Haven't been around for a while so guilty of some 'skim reading' in haste to catch up - sorry.

rb10

Kazza242 wrote: »

• Virgin Money Easy Access Cash E-ISA (issue 5) - 1.75% :starmod: NEW :starmod:
  Rate guarantee? No. Rate effective from: 27/06/2013.
  Minimum deposit: £1. Operated via: Internet.
  
  
• Virgin Money Easy Access Cash ISA (issue 5) - 1.75% :starmod: NEW :starmod:
  Rate guarantee? No. Rate effective from: 27/06/2013.
  Minimum deposit: £1. Operated via: Branch or Post.

Both no longer available. They've moved on to issue 6 at 1.61% AER.

The issue 5 is still paying 1.75% AER to existing customers.

10_66

Post Office Premier Cash ISA 1.80%, according to their website, says it's not currently available.

DragonQ

Based on historical accounts, is there any chance of the Issue 1 Flexclusive ISA's interest rate ever going up again? Basically trying to work out if it's worth transferring my balance to Virgin Money. I'd probably lose about a week of interest during the switch for only 0.25% more.

innovate

You won't be losing any interest because you ask for an ISA transfer. Your old provider pays interest until the day your money leaves the account with them, and the new one pays interest from the next day onwards.

Btw, I might not remember correctly but I think I have seen Virgin are about to cut their rates? EDIT: yes, just a couple of posts down (or up, depending on your forum settings)....................

DragonQ

innovate wrote: »

You won't be losing any interest because you ask for an ISA transfer. Your old provider pays interest until the day your money leaves the account with them, and the new one pays interest from the next day onwards.

Btw, I might not remember correctly but I think I have seen Virgin are about to cut their rates?

I thought transfers were still done between providers by cheque, in which case the time it takes the cheque to arrive would be lost interest (unless the new provider pays from the date they receive your transfer request, something which Virgin Money doesn't do)?

Virgin Money's new ISAs have a lower rate but I opened one at 1.75% and that hasn't been dropped.

someone

DragonQ wrote: »

I thought transfers were still done between providers by cheque

They certify in the paperwork the day interest was stopped been paid, then the new provider backdates it.

See https://www.bba.org.uk/download/6330

Your new provider will credit funds to your ISA account and backdate interest (4)

---

4) Your new provider will backdate interest to the first day where interest no longer accrues on the funds being transferred from your old ISA. In addition, your new provider will start paying the new interest rate from day 16 at the latest regardless of whether the transfer has completed within the standard 15 business day timeline (pended cases excepted)