Cash ISAs: The Best Currently Available List

savit4l8er

Loughborough 2 yr 4.15 but it's paper based transfers in if needed.  90 day early closure penalty. 

kaMelo

I said I'd update when things were open, it took a while but got there in the end. Phone appointment with Cumberland on 28th November, account was finally showing in online banking on 12th December, 1 transfers in completed on 19th and 2 more on 21st. All well and good albeit a little slow.

But, to this day I've had no passbook or notification of account details. For my situation it's not a problem as no new money is being paid in, only transfers, however there are others on this thread for whom it would matter as they were paying new money in. 

Happy with The Cumberland rates but the speed of their operation, which was slow to start with, is now somewhat slower which is disappointing.  @bristolleedsfan I hope your experience was somewhat faster than mine.

bristolleedsfan

kaMelo said:

  @bristolleedsfan I hope your experience was somewhat faster than mine.

I put complaint in last week, not Cumberland B.S fault if they posted me application form following telephone appointment on 17 November (not received), however passbook not received either following eventual account opening on 3 December 

I did get instant reply to my secure message on 6th confirming they received £20000 faster payment I sent on 3rd and that interest would be paid from that date.

Flavour of complaint  

1. Why was there no option to have application forms posted to be completed by applicant as opposed wait a week for telephone appointment to have application form completed by Cumberland B.S staff and then posted despite known postal delays caused by Royal Mail strike action ?

 

2. Cumberland B.S website links to its social media accounts, facebook, twitter etc. Why when i sent direct message 11 November via twitter could the person not find out answer to my query and relay it to me rather than pass my query on for a random date and time phone call which i missed ?

 

3. Before missed call i phoned asked about procedure, how do forms get signed, answer i got posted, i repeated so forms get posted, answer yes, said i was keen to know account opening procedure, answer i got will find that out during telephone appointment/

 

Why was  I not informed forms can be emailed for signature and returned signed by email so that i could have arranged to acquire printer/scanner ?

 

Feeling lack of helpful answers by phone I replied to phone appointment email 13 Nov at 09:20  why no reply ?

17th November following telephone appointment which I waited a week for   "and once you have received the application forms in the post, complete them and pop them back to me using the prepaid envelope enclose."

 

4. With known postal delays Why not post forms out to me on 11 November following my interest shown in 5 year fixed rate ISA on 10 November ?

 

23 November after I gave update nothing received from Cumberland B/.S despite post from elsewhere posted after telephone appointment having arrived.

"It should hopefully be with you in the next two days! If its not, let me know and I can resend for you!"

 

5. Why not just post another set of forms out in the first instance so starts off in postal system soonest?

 

30 November

I would need the forms back before I can open anything, due to signatures etc. I can resend them again for you, or pop them to your local branch to be signed there, Whichever is easiest for yourself.

 

Nothing easy at all going to Preston to visit a branch hence me not taking that option initially given circumstances none of which were my fault and  why no willingness to improvise for example reply by secure message ok yes read this and that until such time as forms could reach me for me to return to cumberland signed ?  5 year account never likely to visit a branch and no signatures are ever required when apply for current accounts and savings accounts online

 

6.  Why let 7 days pass from  23 November  Should hopefully be with you in the next two days! If its not, let me know and I can resend for you!"

 just to get to this stage  30 November

 "I can resend them again for you, or pop them to your local branch to be signed there, Whichever is easiest for yourself."

2 December

"I will be looking to get this opened for you today 😊 You should receive an email with the account number on it so you can transfer those funds over! I am so sorry but I forgot one piece of paperwork, you don’t need to rush it back to me, it’s just something to sign to say you agree to the five year terms and conditions and understand that the money is locked in for the allotted time"

It’s just attached here,

 

7. I did wonder when I received that message I will ask now. Why did ......,,,,,, not get on and open the account rather than message about looking to get it opened that day?

 

8. Why did  ........ not manage to open the account that day causing me to cancel plans to go out that afternoon staying in waiting for to complete task. She knew I was waiting for account to be opened to fund it ASAP ?

 

9. Forum post by another new customer screenshot attached account opened same afternoon as forms emailed back signed, bearing in mind how long I had been waiting no fault of mine having expressed keenness to get account funded Why did I not receive same first class service, my form was emailed back signed 11.15am

 

Why was my account not opened same day ?

 

10. Forum post by another new customer screenshot attached account opened same afternoon as forms emailed back signed, Why was my account not opened the following day after form was emailed back signed ?

 

11. When account finally got opened two days after I emailed forms back signed, as a new customer Why was I not emailed or messaged full instructions on how to make a bank payment ?

 Why was I merely emailed account number no sortcode and no guidance as what was needed in reference field causing me to have to phone to find out this information. ( With exception of Nationwide BS all Building Societies and challenger banks require there banks sortcode and account number with customer account number in reference field)

 

Luckily I gave most required information in advance of telephone appointment so is just security answers spelt incorrectly  - Primary School ..... Place of Birth .......

Customer on forum I referred to said you post a passbook out, as of now I have not received that either

I look forward to my questions of complaint/concerns being answered as well as £50 compensation in respect of Cumberland B.S contributing to delays in me being able to fund 5.05% account, inconvenience caused including having to ask a neighbour twice to print scan email back signed forms due to apparent lack of timely actions by Cumberland B.S.

 

kaMelo

I've been a member for a good few years now and I've never experienced mistakes like that, always on the slow side but when they got around to doing something it was done correctly. When I first opened accounts signatures were required in branch, even their regular saver required a branch visit to open but they have moved on somewhat with many accounts no longer requiring that.  They offer secure email as a method of communication for important documents.so it makes no sense for them not to utilise it with someone like yourself who is willing to use it.

Overall reading your experience is quite disappointing to read if I'm being honest and upon reflection opening my account was a breeze in comparison.

At least it's now open and you've got a market leading rate for the next five and a bit years as, unlike the one and two year accounts which mature in November after one and two years respectively, the five year ISA matures at the end of March 2028, five years and three months later.

bristolleedsfan

kaMelo said:

 They offer secure email as a method of communication for important documents.so it makes no sense for them not to utilise it with someone like yourself who is willing to use it.

They used secure message with me, not for the other new customer who posted experience previously, they were not willing to offer a workaround to get account opened with me sending forms signed SD when I got forms through post hence me asking neighbour to print forms and scan and email back after I signed them, less than ideal, feeling i had was I was never going to get forms by post from them  no passbook from them kinda ironic,

I made telephone appointment on the evening before fixed rate offer was put on Cumberland website for first appointment the following Thursday.

freeguy1984uk

freeguy1984uk said:

Hello, I've been keenly viewing this thread for the past couple of months and have finally signed up to the forum.

I have a question please: Is it normal that variable ISA's don't automatically increase rates for existing accounts?

They were happy to reduce rates automatically, but recently I have to keep asking them to give me their new increased rate.

This is for Sainsbury's ISA by the way, I have emailed a few other providers with mind of switching to them, but they say the same thing, no automatic rate increase, I have to manually keep an eye on it and addres it myelf.

So the decision I made back in August was to switch my ISA to Shawbrook Bank. But ironically they are now quite far behind the top rates at 1.50%, and Sainsburys who I switch away from are currently at 2.40%.

I'm looking to move away from Shawbrook now, but it's so frustrating that I could move to another provider then Shawbrook leapfrog them above the interest tables.  I've even asked Shawbrook are you raising your rates soon as I'll just stay with you if you are, and they gave me a generic vague none-answer.

Are there any easy access providers that accept transfers in that are CONSISTANTLY near the top of the interest rates tables please?  Many thanks.

masonic

freeguy1984uk said:

Are there any easy access providers that accept transfers in that are CONSISTANTLY near the top of the interest rates tables please?  Many thanks.

No, providers launch or move products near the top of the interest rate tables when they wish to expand their capital reserves. The need for new money will be driven by the lending side of their business, which is rarely if ever insatiable. Being consistently mid-table is more feasible, as mediocre rates don't tend to attract the floods of cash that cause a provider to become overwhelmed with more money than they can use productively. Keeping your money at a top rate requires effort.

freeguy1984uk

I'm not sure why but I'm trying to write a reply and it keeps saying it's being spotted as a suspicious post.

freeguy1984uk

I understand what you are saying Masonic thank you, but how comes my non-ISA easy access savings are consistantly near the top of the interest rate tables?  One of which beings with M, and the other begins with Z.

masonic

freeguy1984uk said:

I understand what you are saying Masonic thank you, but how comes my non-ISA easy access savings are consistantly near the top of the interest rate tables?  One of which beings with M, and the other begins with Z.

I'm not sure who the "M" is, as there is no provider beginning with M that is in the top 10 of easy access providers currently. "Z" is presumably Zopa, who have only recently returned to the top of the tables, after a fairly lengthy spell mid-table (between mid-October and mid-December, their Smart Saver was paying 2.15% to 2.40%, while the best rate available was >2.80% throughout).

Al Rayan is worthy of mention as a high payer for easy access savings in recent months, but over a longer time period even they have fluctuated (currently only beaten by two other providers, but could well slip further if they've attracted enough cash).