Cash ISAs: The Best Currently Available List

refluxer

Kazza242 said:

Santander have launched some fantastic new fixed rate ISAs:

1 Year: 3.00%
18 Month: 3.10%
2 Year: 3.25%

Thanks for the heads-up for this. I had a maturity ISA on a low rate that needed a new home and the £50 e-voucher (when transferring in £10k+) added to that 1 year 3% rate gives it an equivalent rate of 3.3% for me, so pretty close to the current best standard (non-ISA) 1 year fixed rate account.  

My first attempt at opening crashed, so I suspect they've got a bit of an influx at the moment. The second attempt was fine though - the application took about 5 minutes to fill out and was approved within minutes. Unfortunately, my existing ISA provider isn't on the list of those who can carry out transfers online, so I'll need to post off a paper form for this one.

Tor anyone else looking to transfer £10k+, the list of companies you can get the voucher made out to is a pretty generous list of common online retailers like Amazon, high-street shops like Argos and Currys, as well as all the big supermarkets (Tesco, Sainsburys, Aldi etc) so not restrictive for most people, I would imagine.

soulsaver

refluxer said:

Considering how poor their other product rates are, I'm sure I'm not the only one scouring the T&Cs for that suspiciously-good 1 year Santander ISA product, looking for a catch ?!

Santander ISA 1 yr fix: 3.0% equiv to 3.75% if you pay BR tax on savings interest.

And there is the additional £50 voucher.. but if you think I'll transfer that £10k cash I've got spare in my S&S Isa... think again: small print trap - must be a FULL transfer (and be £10k min). How sneaky is that buried in the terms but not in the highlights...

masonic

polymaff said:

masonic said:

polymaff said:

Kazza242 said:

Cash ISAs: The Best Currently Available List

Any chance of adding APS Cash ISAs to your list?

"If your late spouse or civil partner held an ISA and died on or after 3 December 2014, you will inherit an additional ISA allowance called the Additional Permitted Subscription (APS) ISA allowance. The APS ISA allowance allows you to make contributions up to the value of your spouse or civil partner's ISA holding when he or she died."

They're generally best held for the shortest time possible, as they aren't competitive. Tactics should be to open the one most convenient to you and transfer out ASAP after using the APS. Technically an APS can be used within any ISA, although providers tned to restrict this to certain designated products. Am I missing something?

Marmaduke123 said:

I used the Skipton Building Society Legacy Cash Isa to receive my APS allowance. They were pretty efficient, as was my late husband's  former provider. I think the rate is 1.6% at the moment. I transferred it out quite quickly to get a better rate. There aren't many ISA providers willing to accept APS allowances.

Thank you both.  Do I get this right, then?  Once you've opened one of the few ASP-accepting ISA, you can move the funds on to any ISA provider?

The only info I've found on ASP-accepting providers is:

https://www.which.co.uk/money/savings-and-isas/isas/cash-isas/can-you-inherit-an-isa-av3zk0s5ud6q

Right at the bottom of the page - but it isn't being updated.  That's where I thought that Kazza would excel..

Re-reading that article I see that :

"Once the [ASP] transfer has been made, the normal Isa rules apply and the money is treated as if it was previous years' subscriptions."   May address my above question?

Also,

"Do Isa providers have to accept APS payments?

In short, no they don't. Isa providers aren't obliged to accept APS allowances, so you may not be able to deposit inherited savings with the provider of your choosing."

So I try to find a easy-access ASP acceptor, or an equivalent account with the several providers with whom my late wife has/had current ISAs - then, asap, move the funds on to the best value accounts I can find?

Thanks again.

Yes, exactly this. If a provider currently holding some or all of the ISA money can be used, then that makes things easier. Failing that, the larger institutions are most likely to have a suitable offering, picking one you have a relationship with should allow you to get an account up and running more quickly.

It probably would be helpful to gather feedback somewhere about people's experiences with using APS at different providers. It's ease and efficiency that really matter.

soulsaver

Santander fixed isa transfer Voucher terms here

3.4 If you complete a full ISA transfer with a balance of below £10,000 from an Old Account into a Qualifying Account, this will not be eligible for a Voucher Payment.
If you make more than one ISA transfer from an Old Account(s) into a Qualifying Account with a cumulative balance of £10,000 or more, this will not be eligible for a Voucher Payment.
If you transfer part of the balance you hold in an Old Account which is £10,000 or more into a Qualifying Account, this will not be eligible for a Voucher Payment.
Only single full ISA Transfers In with a balance of £10,000 or more into a Qualifying Account will receive a Voucher Payment

Consumerist

polymaff said:

masonic said:

polymaff said:

Kazza242 said:

Cash ISAs: The Best Currently Available List

Any chance of adding APS Cash ISAs to your list?

"If your late spouse or civil partner held an ISA and died on or after 3 December 2014, you will inherit an additional ISA allowance called the Additional Permitted Subscription (APS) ISA allowance. The APS ISA allowance allows you to make contributions up to the value of your spouse or civil partner's ISA holding when he or she died."

They're generally best held for the shortest time possible, as they aren't competitive. Tactics should be to open the one most convenient to you and transfer out ASAP after using the APS. Technically an APS can be used within any ISA, although providers tned to restrict this to certain designated products. Am I missing something?

Marmaduke123 said:

I used the Skipton Building Society Legacy Cash Isa to receive my APS allowance. They were pretty efficient, as was my late husband's  former provider. I think the rate is 1.6% at the moment. I transferred it out quite quickly to get a better rate. There aren't many ISA providers willing to accept APS allowances.

Thank you both.  Do I get this right, then?  Once you've opened one of the few ASP-accepting ISA, you can move the funds on to any ISA provider?

The only info I've found on ASP-accepting providers is:

https://www.which.co.uk/money/savings-and-isas/isas/cash-isas/can-you-inherit-an-isa-av3zk0s5ud6q

Right at the bottom of the page - but it isn't being updated.  That's where I thought that Kazza would excel..

Re-reading that article I see that :

"Once the [ASP] transfer has been made, the normal Isa rules apply and the money is treated as if it was previous years' subscriptions."   May address my above question?

Also,

"Do Isa providers have to accept APS payments?

In short, no they don't. Isa providers aren't obliged to accept APS allowances, so you may not be able to deposit inherited savings with the provider of your choosing."

So I try to find a easy-access ASP acceptor, or an equivalent account with the several providers with whom my late wife has/had current ISAs - then, asap, move the funds on to the best value accounts I can find?

Thanks again.

Thanks, guys, gals and others for asking and answering that question.

2010

Best to hold on to see how other providers react  to Santander`s 3% ISA.
I`ve got a Marcus variable 1.5% looking for a better home.
BoE meets on 22nd Sept.
Truss thinks capping energy rates will reduce inflation.
Will be interesting to see how BoE reacts to the price capping.
Will be surprised if they go higher than .25% to 2%.

intalex

I think the account is worth opening empty as an "option" and decide in the next couple of weeks whether to pay/transfer into it...

Frogletina

soulsaver said:

Santander fixed isa transfer Voucher terms here

3.4 If you complete a full ISA transfer with a balance of below £10,000 from an Old Account into a Qualifying Account, this will not be eligible for a Voucher Payment.
If you make more than one ISA transfer from an Old Account(s) into a Qualifying Account with a cumulative balance of £10,000 or more, this will not be eligible for a Voucher Payment.
If you transfer part of the balance you hold in an Old Account which is £10,000 or more into a Qualifying Account, this will not be eligible for a Voucher Payment.
Only single full ISA Transfers In with a balance of £10,000 or more into a Qualifying Account will receive a Voucher Payment

Have I understood the terms correctly? Can I only transfer one isa in? My maturing Isa is over £10,000 - does this mean I can't transfer a part isa in as well?

Consumerist

Frogletina said:

soulsaver said:

Santander fixed isa transfer Voucher terms here

3.4 If you complete a full ISA transfer with a balance of below £10,000 from an Old Account into a Qualifying Account, this will not be eligible for a Voucher Payment.
If you make more than one ISA transfer from an Old Account(s) into a Qualifying Account with a cumulative balance of £10,000 or more, this will not be eligible for a Voucher Payment.
If you transfer part of the balance you hold in an Old Account which is £10,000 or more into a Qualifying Account, this will not be eligible for a Voucher Payment.
Only single full ISA Transfers In with a balance of £10,000 or more into a Qualifying Account will receive a Voucher Payment

Have I understood the terms correctly? Can I only transfer one isa in? My maturing Isa is over £10,000 - does this mean I can't transfer a part isa in as well?

Under the ISA rules, you can transfer-in any amount the provider will accept. It looks, however, that you will only qualify for one voucher payment on one transfer-in of £10k+. So, if you transfer-in 3 ISAs of £10k+, you only get one voucher.

Frogletina

Consumerist said:

Frogletina said:

soulsaver said:

Santander fixed isa transfer Voucher terms here

3.4 If you complete a full ISA transfer with a balance of below £10,000 from an Old Account into a Qualifying Account, this will not be eligible for a Voucher Payment.
If you make more than one ISA transfer from an Old Account(s) into a Qualifying Account with a cumulative balance of £10,000 or more, this will not be eligible for a Voucher Payment.
If you transfer part of the balance you hold in an Old Account which is £10,000 or more into a Qualifying Account, this will not be eligible for a Voucher Payment.
Only single full ISA Transfers In with a balance of £10,000 or more into a Qualifying Account will receive a Voucher Payment

Have I understood the terms correctly? Can I only transfer one isa in? My maturing Isa is over £10,000 - does this mean I can't transfer a part isa in as well?

Under the ISA rules, you can transfer-in any amount the provider will accept. It looks, however, that you will only qualify for one voucher payment on one transfer-in of £10k+. So, if you transfer-in 3 ISAs of £10k+, you only get one voucher.

I'm happy with that. I didn't want to lose out on one voucher if I also transferred part of my flexible isa.