Cash ISAs: The Best Currently Available List

Consumerist

colsten wrote: »

Unless it's an HTB or S&S ISA, you can do it much simpler and faster: just complete and submit the online transfer request.

Thanks. I did hunt for a downloadable transfer form but couldn't find one. I assume adindas needs to be logged in to submit the online form.

badger09

Consumerist wrote: »

Thanks. I did hunt for a downloadable transfer form but couldn't find one. I assume adindas needs to be logged in to submit the online form.

Its not a downloadable form, its a big red button:p here. No need to be logged in

Hope this link works (Click From Another Provider/CashISA/Yes I've Got One)

http://www.nationwide.co.uk/products/isas/transfer-your-isa

I had completely missed this, until the inestimable colsten pointed it out to me very recently.

I've completed application to xfer in my HSBC Save Together ISA into Nationwide. Will report back when completed

masonic

badger09 wrote: »

I've completed application to xfer in my HSBC Save Together ISA into Nationwide. Will report back when completed

Hope it goes as well for you as it did for me from HSBC to TSB - 3 working days. Needless to say I was rather impressed.

AbbieCadabra

ctdctd wrote: »

I walked in on April 6th and walked out 10 minutes later with a shiny new ISA.
Nottingham B/S Harpenden.

I presume the person applying has to complete the application form, you can't get a form to take away?

I'm stuck at home for at least another 2 weeks after surgery so can't get to a branch, guessing i've got no way around this if you have to apply in person! . With my luck, by the time i can get in a car again, it will be withdrawn...

Edit: just rang them, have to apply in person, no alternative, but at least she checked & said sorry!

beefturnmail

Why do some banks\building societies restrict applications to branch only? If it's to try to cross-sell other products, they could do this over the phone as well?

MARTYM8`

beefturnmail wrote: »

Why do some banks\building societies restrict applications to branch only? If it's to try to cross-sell other products, they could do this over the phone as well?

Many small societies have limited back offices – branch applications keep the product to locals only and allow them to manage the product.

If the Nottingham isa were available nationally online/by post they would be swamped and the product withdrawn in days – this means they can offer the product for longer and to their local customers. They are also able or course to cross sell mortgages, insurance and other products too – to locals.

adindas

I am planning to transfer my Regular saver ISA in Saffron BS from last tax year subscription which will mature on April 19, 2016 to a flexible ISA. By that Time I will already have around £15,400.to be transferred.

I need a flexible ISA (and not notice ISA) because I am planning to open a S&S ISA, drip-fed from this flexible ISA account to allow the money to be pulled immediately at any time without the need to give any notice.

I have read the first Page of this thread and I could see that the best option currently available is:
- Punjab Bank Variable Rate Cash ISA 1.45%
- Nationwide flexclusive ISA 1.3% ( I already have this)
- First Direct Cash ISA - 1.30%
- M&S Advantage Cash ISA 1.3%

My question is :
- Is Punjab Bank Variable Rate Cash ISA 1.45% is reliable has a good CS and covered by FSCS ? Want to here particularly the person who has been banking with them.
- Is there any better flexible cash ISA rate than 1.3% (apart from Punjab Bank) ??
- Is there any better way for a better return than I have describe above (e.g. to transfer from Cash Isa to S&S ISA)? I have almost maximised high interest current accounts that I could get available in the market enhanced with dripfeeding to higher interest RSA.

Suggestion and opinion will be very much appreciated.

Thank you for your time.

masonic

adindas wrote: »

Suggestion and opinion will be very much appreciated.

Have you considered pulling the money out and putting it into a 12 month amortising P2P investment (for example, you could get around 4% at the moment at Ratesetter)? The money would be drip-fed back to you, which would allow you to conveniently drip-feed it into your S&S ISA. Obviously an option that is not without risk, but worth considering if you are investing the money ultimately anyway.

masonic

adindas wrote: »

Thanks for the advice. There is a problem.
I believe when it is pull out to P2P it will loose its ISA status. In the meanwhile I will be using this current tax year ISA with Saffron Regular saver ISA earning 3% interest.

Also at the moment I am not comfortable with p2p lending which is not covered under FSCS. I might consider it if the return is quite high, for instance minimum 7%.

Money flexibly withdrawn from an ISA can be replaced without affecting your allowance. You will need an ISA with the new flexibilities in order to do this. Nationwide is the only one among those you list that offers this, but you could go to Lloyds, TSB, Coventry BS, etc, for a fully flexible ISA. Obviously rate is unimportant if you are pulling the money from the ISA to get a better rate elsewhere prior to replacing it for transfer.

There are options at 12% that you could use instead, but these rely on a liquid secondary market (which is not guaranteed at all times), in order to sell loan parts. I didn't mention this option as it is a bit more sophisticated and although I've never waited more than a day or two to sell down an investment in the last 12 months, the next 12 months could be different...

masonic

adindas wrote: »

Thanks again. I just want to see whether I understand this correctly. Say for instance I transfer all of my last year 2015-2016 (not this year) ISA subscription which is about £15,400 from Saffron to Nationwide Flexclusive ISA. A few days later I pull it out from ISA to high interest current account about £10,000 (say). Could I put back this £10,000 in later date to Flexclusive ISA without loosing ISA status ??

Correct.

I just want to transfer the previous year 2015-2016 and older subscription (old money). For the new money 2016-2017 ISA subscription I already have a good place with Saffron Member Regular saver ISA which will pay interest of 3% interest

You can do that, since anything you withdraw and replace within the same tax year from your previous year ISA money (held at Nationwide) will have no bearing on what you can subscribe to the Saffron ISA.

If you have link about this, It will be great as I could learn it and decide whether this will fit to my purpose ...

There is some discussion of the two main platforms that would work best for this (Moneything and Savingstream) in this thread (edit: and this one) and plenty more information about both platforms in the P2P independent forum. Essentially, you can buy loans that are normally 6-12 months in duration, but you do not need to hold them to maturity as they can be sold quite simply and easily on the secondary market run by the platform. Up to this point, there has been a lot more demand than supply, so selling has been easy. There is of course no guarantee that will always be the case, and you might not always be able to sell when you want to. But at Moneything in particular, you tend to be committed for no more than 6 months (if loans are renewed then this is done on an opt-in basis), so you need not rely entirely on a secondary market if you are happy to make use of these 6 month loans.