Cash ISAs: The Best Currently Available List

gowgowuk

tillycat123 said:

Shawbrook seem to be allowing penalty free switches regardless, I switched out of a 5 year to the 3.7% no penalty 

I am going to open the new one and send a secure message to switch the funds over to it, that’s what I did before after calling, was quick and simple 

Damn! I messed up... I just transferred my fixed Shawbrook 1.4% to Coventry BS variable limited access 2.25% (with penalty)!

alternate

sry, wrong thread

Consumerist

tillycat123 said:

Shawbrook seem to be allowing penalty free switches regardless, I switched out of a 5 year to the 3.7% no penalty 

I am going to open the new one and send a secure message to switch the funds over to it, that’s what I did before after calling, was quick and simple 

Reading Shawbrook's Ts&Cs, you can only open and operate one cash ISA with them in any tax year. Are they allowing you to open a new ISA to switch the existing ISA into ?

alternate

Then letting you upgrade the rate penalty free seems unusually generous.

isasmurf

Consumerist said:

tillycat123 said:

Shawbrook seem to be allowing penalty free switches regardless, I switched out of a 5 year to the 3.7% no penalty 

I am going to open the new one and send a secure message to switch the funds over to it, that’s what I did before after calling, was quick and simple 

Reading Shawbrook's Ts&Cs, you can only open and operate one cash ISA with them in any tax year. Are they allowing you to open a new ISA to switch the existing ISA into ?

This will be open and operate in the sense of receiving current tax year subscriptions. Transferring an existing ISA into a new account isn't opening an ISA as under ISA regulations an ISA isn't open until it has received a subscription. Essentially what they are trying to say is you can only use your allowance in a single account as they are not one of the banks where you can spread your allowance over different accounts.

2Sheds

Aldermore 30 Days notice now 2.05%

t1redmonkey

Principality have an online easy access ISA at 2.15% now.

refluxer

t1redmonkey said:

Principality have an online easy access ISA at 2.15% now.

I actually really like the Principality and transferred a few ISAs to them during the pandemic when their one and two-year fixed rate ISAs were at the top of the MSE tables. The only downside is that they're not part of the BACs ISA transfer service, so transfers in and out aren't quite as snappy as they could be - they were all within the 15 day transfer window though, so I had no complaints.

Their fixed rate ISAs have fallen behind since I took mine out unfortunately so I've had to transfer away as they matured but the last one I took out only matured recently, so I'll transfer it into this Easy Access ISA while I consider my options - thanks for the heads up.

refluxer

Further to my last message, I opened Principality's Online ISA this morning and then sent them a secure message to ask them to transfer the balance of my (recently matured) Principality ISA Maturity account into it. I received a reply 1hr 20mins later to confirm that this had been done. Top marks for prompt customer service !

Just be aware that if you transfer in from a different provider, then you'll have to send off a paper form unfortunately, for the reason mentioned above.

A._Badger

refluxer said:

t1redmonkey said:

Principality have an online easy access ISA at 2.15% now.

I actually really like the Principality and transferred a few ISAs to them during the pandemic when their one and two-year fixed rate ISAs were at the top of the MSE tables. The only downside is that they're not part of the BACs ISA transfer service, so transfers in and out aren't quite as snappy as they could be - they were all within the 15 day transfer window though, so I had no complaints.

Their fixed rate ISAs have fallen behind since I took mine out unfortunately so I've had to transfer away as they matured but the last one I took out only matured recently, so I'll transfer it into this Easy Access ISA while I consider my options - thanks for the heads up.

I'd like to put in a word for the Principality, too. I have, reluctantly, just transferred an ISA from them to Santander (with my fingers firmly crossed given the latter's reputation) and the entire experience with the Principality from sign-up to transfer has been swift and efficient. I also agree it's a shame the Principality doesn't do electronic transfers but, even so, I'd move back to them without hesitation if the rate was right as they seem very efficient and customer friendly.