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Cash ISAs: The Best Currently Available List

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  • silvercar
    silvercar Posts: 49,635 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    I'm thinking of going for the Coventry BS ISA Reward - 2.50% and uniting all my ISAs together, currently I have 3 providers: Coventry Poppy and Tesco (both of which have reached the end of their good deal) and Birmingham Midshires where I have justed moved everything to a 1.5% one year rate. Does this sound reasonable.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • KTF
    KTF Posts: 4,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    silvercar wrote: »
    I'm thinking of going for the Coventry BS ISA Reward - 2.50% and uniting all my ISAs together, currently I have 3 providers: Coventry Poppy and Tesco (both of which have reached the end of their good deal) and Birmingham Midshires where I have justed moved everything to a 1.5% one year rate. Does this sound reasonable.
    If you meet the criteria of "an existing Coventry customer who held a cash ISA with us at the end of 4 February 2013" then you can do this.
  • dosh37
    dosh37 Posts: 492 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    edited 13 April 2014 at 11:57AM
    dfurn wrote: »
    Hi I'm just doing this transfer now. Can I ask now your money has arrived does the Virgin account show as 2% when you view it online? Currently mine says 0.1% but I imagine that's due to the funding not arriving yet.

    Yes - the interest rate displayed should show 2% when the transfer has taken place. It will also show the balance.
  • gwapenut
    gwapenut Posts: 1,431 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    What happens if you open a Nationwide regular saver now because it's the best option at the moent for dripfeeding in, but then find other better options in July.

    I know previous year's allowances need an ISA allowing transfers in - but what about if you want to shift an ISA you have opened this year? Does that still require an allowing transfers in?

    I know semantically it is a transfer, just wanted to know if there was a legal / ISA technicality which meant it wasn't.
  • KTF
    KTF Posts: 4,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    You can switch ISAs as often as you like as long as:

    a) The account you move it to allows this.
    b) You dont pay in any more money to the new account if you have already used this years allowance.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Yes sure you are allowed to transfer you current year's ISA. If you do so, you must transfer all of it. Current year's ISAs cannot be split.

    I wouldn't hold my breath for better rates in July. There is no reason for any rate increase then.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    KTF wrote: »
    You can switch ISAs as often as you like as long as:

    a) The account you move it to allows this.
    b) You dont pay in any more money to the new account if you have already used this years allowance.
    You can transfer even if you do not / can not make any more payments into the ISA you transferred to.
  • hgt
    hgt Posts: 341 Forumite
    Part of the Furniture 100 Posts
    gwapenut wrote: »
    What happens if you open a Nationwide regular saver now because it's the best option at the moent for dripfeeding in, but then find other better options in July.

    I know previous year's allowances need an ISA allowing transfers in - but what about if you want to shift an ISA you have opened this year? Does that still require an allowing transfers in?

    I know semantically it is a transfer, just wanted to know if there was a legal / ISA technicality which meant it wasn't.

    Just a word of warning though... while you can transfer this years ISA allowance (as long as you transfer in full.... what if a new best buy that crops up is also a Regular Saver ISA? They don't allow transfers in!

    Also I suggest you take a look at the Newcastle BS Big Home Saver ISA account (see other threads on here), as that beats the Nationwide regular ISA in two respects...

    1) It's a better rate - 3%
    2) The account doesn't close, nor the rate drop after a year, so you can build up more of a nest egg.
  • gwapenut
    gwapenut Posts: 1,431 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 14 April 2014 at 12:25PM
    Thanks all, I've already realised the Nationwide one is the poorest of the bunch!

    I'm stuck choosing between the 3% Newcastle Big Home ISA (and hoping the rate doesn't drop off after 12 months) or the 4% Saffron (I'm a member) with a guaranteed transfer dilemma next April.

    I may need access in Jan and June if my restoozing doesn't go to plan, and both accounts offer that.

    I also have a Santander Major fixed rate expiring in July, and neither of these accounts would allow that to transfer in. While that needn't be an issue, the size of the pot is such that it would be useful to combine July's transfer with new ISA money from this year, to hit the £20k threshold where some higher rates seem to be kicking in. Though those "best buy" rates were pre-NISAs, and frankly at 2% or less aren't worth shunning a 3% or 4% regular saver rate for ...

    Though of course I can just top it up with the regular saver ISAs I start now, so I guess I have a dilemma about nothing.
  • MissyD_2
    MissyD_2 Posts: 129 Forumite
    boobbby wrote: »
    Why would anybody put money into an ISA at this time of year when you can get 5% in a TSB current account. Its instant access and the money can be used at a later date to fund an ISA.

    That's 5% AER/4.89% gross variable on balances up to £2,000 - NO interest is paid on balances above that.

    I personally prefer not to pay further tax on money I have already paid tax on, in my savings in the first instance.
    Not to say I don't have current accounts for in-credit paying interest and cashback on bills ;-)
    TARGET Deposit for my 1st house!:A NEED£30k:eek: WANT£45k GOT 1stDRegSaver:£1200@ 6% GROSS 1/10/15||SantanderISA:£11,820.41 @ 2.30% 16/04/16| Newcastle BS ISA:£15,149.80 @ 3.02%|Santander123 Cashback earnings: £274.48|TotalCashSavings:£32,302|Last Update:22/2/15:T
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