Cash ISAs: The Best Currently Available List

Zanderman

Ford Money launched their Reg Saver ISA today - a whopping 4% but, sadly, only on a max £250 per month so only £3k per year.

https://www.fordmoney.co.uk/savings-products/regular-saver-cash-isa

Rest of ISA allowance can still be used within a Ford Money ISA wrapper but their other ISA rates are lower.

But an interesting variation on the norm and worth doing for people with only £3k ofrless to invest in an ISA.

(Kazza242 I tried to send you a PM but your mailbox is full)

Edited to add: Ford withdrew this ISA within 48 hours of opening it - oversubscribed apparently...

Rich2808

Zanderman wrote: »

Ford Money launched their Reg Saver ISA today - a whopping 4% but, sadly, only on a max £250 per month so only £3k per year.

https://www.fordmoney.co.uk/savings-products/regular-saver-cash-isa

Rest of ISA allowance can still be used within a Ford Money ISA wrapper but their other ISA rates are lower.

But an interesting variation on the norm and worth doing for people with only £3k ofrless to invest in an ISA.

(Kazza242 I tried to send you a PM but your mailbox is full)

They also have a flexible instant access isa paying 0.9% and both that and the regular saver can be funded by isa transfers.

So you can use prior year isa funds to fund both. They are also a split isa provider too.

adindas

I wonder what answer to put when answering the question with ford money flexible ISA:

1. "Have you already opened an ISA with another provider in this tax year?" N/Y

My only this tax year 2017/18 subscription is with Ford money in RS ISA which is the same provider but different product compared to Flexible ISA.

My understanding the answer to Q1 should be : No.

But the problem here if you answer No, I will not be able to transfer in my previous ISA subscription with Nationwide or at least I have not found it. I believe this Flexible is mainly intended for previous tax year ISA subscription. Noone senible will be put this new money into flwxib;e ISA where they have a chance to put it in FOrd RS ISA.

If the answer to Q" is Y which is not correct as I am already having a REgular saver with Ford money RS ISA I will be able to transfer the previous ISA subscription from previous year with Nationwide. Here is the exact wording:

"As you indicated you've already opened an ISA with another provider in the current tax year you will

only be able to open this ISA by transferring your current year’s ISA subscription, in full, as an opening

balance.

If you like, you can also transfer other ISA holdings you have opened in previous tax years as part of

your opening balance.

Please indicate below the type of ISA holdings you wish to transfer to us:

Cash ISA holdings only

Stocks & Shares ISA holdings only

A combination of Cash and Stocks & Shares ISA holdings"


What do you think the proper answer to this ??

bowlhead99

If you haven't opened an ISA with another provider this tax year... which you say you haven't...then clearly the answer to "Have you already opened an ISA with another provider in this tax year?" is "No I haven't."

If you HAD opened a cash ISA with another provider this year then they would have to tell you that you must complete a transfer out from that provider to continue, because you can't have two current year cash ISAs with two different providers, and it would be impossible to proceed without doing that transfer.

However if you don't have any other current year cash ISAs then they don't need to offer you a transfer option just to continue with the opening process. Assuming they offer a transfer option for prior year money, they can do it at a different stage of the process.

I believe this Flexible is mainly intended for previous tax year ISA subscription. Noone senible will be put this new money into flwxib;e ISA where they have a chance to put it in FOrd RS ISA.

The ISA limit is £20k. The Ford RS ISA, currently withdrawn from sale after high demand, was a maximum of £250 now and £2500 over the remaining ten months of the tax year, leaving £17250 current year allowance unused, and is a product with an early exit penalty.

So, it doesn't make sense to say nobody sensible would use Ford Flexible when they could use Ford RS. You can use Ford Flexible for the vast majority of your allowance' and the RS on only a small proportion of your allowance over a long period of time with restrictions on how you fund and access it.

adindas

bowlhead99 wrote: »

The ISA limit is £20k. The Ford RS ISA, currently withdrawn from sale after high demand, was a maximum of £250 now and £2500 over the remaining ten months of the tax year, leaving £17250 current year allowance unused, and is a product with an early exit penalty.

So, it doesn't make sense to say nobody sensible would use Ford Flexible when they could use Ford RS. You can use Ford Flexible for the vast majority of your allowance' and the RS on only a small proportion of your allowance over a long period of time with restrictions on how you fund and access it.

Well people who managed to open it it yesterday have multiple accounts. I myself have seven of them all of them are already funded with £250 and will be enough to fill in the current tax-year subscription.

My intention to open a fliexi ISA is actually because of their flexibility feature as a temporary container while keeping its ISA status for in and out at the same tax year. But I will explore the possibility to just fund it with £1 new money leaving it just 19.999 to be put into RS ISA.

Neil_Jones

I notice poking around on Virgin Money's site they seem to have withdrawn all the fixed rate ISAs except the 1yr (at 1.11%) and the 5yr (at 1.75%).

ANGLICANPAT

Coventry's Issue 5 is gone as is Nationwide's 5yr fix.

isasmurf

Neil_Jones wrote: »

I notice poking around on Virgin Money's site they seem to have withdrawn all the fixed rate ISAs except the 1yr (at 1.11%) and the 5yr (at 1.75%).

I think Virgin have a policy to offer the same rate for ISA and non ISA accounts. They've recently significantly increased their 2 year rate to 1.61%. This is significantly better than any 2 year ISA currently available, so they probably decided it was not in their commercial interest to offer it as an ISA.

Kazza242

Hello,

I have been making some updates to the first post over the last week.

There have been many changes with some ISAs only being available for 24 to 72 hours, in some cases.

The Skipton BS Lifetime ISA has also been added to the list.

isasmurf

Charter Savings have today added cash ISAs to their range of accounts.
The instant access is the leading cash ISA at 1.06% but requires a minimum of £1,000.
The 1 Year fix also tops the table at 1.16% (a long way off the 1.70% for a 1 year fix outside an ISA elsewhere)
The 2 and 3 year fixes can be beaten.

Their ISAs are, what they are calling, 'mix and match' so you can spread your allowance across their range. However, they are not flexible ISAs.