Cash ISAs: The Best Currently Available List

DemiDee

Many thanks for the kind advice Jonbvn!

I think I'll go for the Direct ISA from NS&I, which seems to be the best from a mini-cash ISA point of view. Is there any reason why others are deciding against this.

I must be the most indecisive person in the world!

masonic

There's nothing wrong with NS&I if you've new money to invest in an ISA. At this time of year, most people are looking at transferring existing funds rather than depositing new ones. I think that's why it's not getting much attention.

DemiDee

Thanks Masonic. I'm a bit new to all of this, although I should have sorted it all out years ago. I have new money to invest, so I guess this is why I'm keen to invest in NS&I. However, I know I'm probably sounding a little ignorant here, but I'm not sure why people would want to look at transferring now.. won't that be more likely around April time, when most ISAs mature?

In fact, I'm not quite sure what happens in April and on what date we have to transfer to a better ISA, should we wish to do so, or indeed whether we can put another £3000 into the same ISA should it be competitive.

Thanks for all the advice folks. I'm blonde, by the way :rotfl:

jem16

A cash ISA doesn't mature unless it's a fixed rate cash ISA.

So when it comes time to put a new year's allowance in your ISA you can simply add another £3k (next year £3600) to it if it is already the best paying ISA.

People without fixed rate ISAs can transfer at any time of the year.

shaz77_2

I want to transfer my ISA into a higer interest rate ISA. A member on this forum suggested Kent Reliance at 6.21% is this the highest interest rate ISA that accepts transfers?

jem16

Ruffler Bank at 6.4% is the highest that accepts transfers. However it is a 30 day notice account and needs a minimum of £9000.

The highest straightforward account is Kent Reliance.

steady__eddie

West Brom have now pulled this one the little perishers.
I started transfer proceedings on the 22nd of September, I received written notification dated the 11th of October that a cheque had been to them. Today, I had a phone call from West Brom saying that they had received a cheque but the a/c. had been closed on the 12th. However, they were quite happy to offer me one from their current range of two which comprises 5.3% or 5.6%. I'll bet they were, how do you spell grrrrrrrr ? :mad:
I told them to send the cheque back and made a phone call to Saffron.

Kazza242

steady__eddie wrote: »

West Brom have now pulled this one the little perishers.
I started transfer proceedings on the 22nd of September, I received written notification dated the 11th of October that a cheque had been to them. Today, I had a phone call from West Brom saying that they had received a cheque but the a/c. had been closed on the 12th. However, they were quite happy to offer me one from their current range of two which comprises 5.3% or 5.6%. I'll bet they were, how do you spell grrrrrrrr ? :mad:
I told them to send the cheque back and made a phone call to Saffron.

As you had started the transfer while the ISA was still available it is really naughty of them not to honour it.

steady__eddie

"As you had started the transfer while the ISA was still available it is really naughty of them not to honour it."

Is this a gentlemans agreement thing or enshrined somewhere in tablets of legislative stone that us mere mortals are not privvy to do you happen to know ?

Kazza242

steady__eddie wrote: »

"As you had started the transfer while the ISA was still available it is really naughty of them not to honour it."

Is this a gentlemans agreement thing or enshrined somewhere in tablets of legislative stone that us mere mortals are not privvy to do you happen to know ?

I don't believe this features in the ISA rules. However, a lot of providers will honour a rate once a transfer has been initiated e.g. Derbyshire BS are one of many financial institutions that do this.