Cash ISAs: The Best Currently Available List

Bridlington1

RG2015 said:

eskbanker said:

RG2015 said:

Just to clarity then, if you are paying every month into an HTB ISA then you cannot open another Cash ISA with a different provider? 

To make the usual pedantic but important distinction, you can open a cash ISA with a different provider but can't pay new money into it if you're already funding another cash ISA in the same tax year.

And as final a clarification, the HTB ISA is classified as a Cash ISA for the purposes of subscribing to different types of ISA in the same tax year?

You are correct.

Catbells

Consumerist said:

Are you sure they specified the last 12 months? The normal restriction is that you have not contributed to another ISA within the last tax year (2022/23). Transfers, however, are not new contributions.

(This is regarding the M&S Cash ISA)  So does this mean I am able to transfer a S&S ISA into a cash ISA and it won't be considered to be part of an annual £20000 expenditure on ISAs?  

And yes, you're right its within the last tax year and not the last 12 months.

Consumerist

Catbells said:

Consumerist said:

Are you sure they specified the last 12 months? The normal restriction is that you have not contributed to another ISA within the last tax year (2022/23). Transfers, however, are not new contributions.

(This is regarding the M&S Cash ISA)  So does this mean I am able to transfer a S&S ISA into a cash ISA and it won't be considered to be part of an annual £20000 expenditure on ISAs?  

And yes, you're right its within the last tax year and not the last 12 months.

TRANSFERS (of existing previous-year ISAs) are not new contributions in the current tax year. ISA contributions within the current tax year must ALL be transferred together - you can't do a partial transfer of a current-year ISA but you can do a partial transfer of previous-year ISAs.

rallycurve

Shawbrook Easy Access Cash ISA Issue 23 is now 3.01%

hamski

hamski said:

 I also asked about the transfer procedure as I was concerned about how long the postal application would take, I was told once the forms are received by m&s bank the transfer is done electronically.
Posted transfer forms today ,fingers crossed it all goes smoothly 

Just an update in case anyone is thinking of doing a transfer to m&s , I received a email from West Brom bs advising me that a transfer request had been put in by m&s on my behalf for the date I requested ,so that’s 2 days after posting the forms to m&s. 

ForumUser7

https://www.ecology.co.uk/hub/cash-isa-available-feb-2023/

Ecology Cash ISA now available for new applications

28 February 2023

We’re now accepting new applications for the Ecology Cash ISA with effect from Tuesday 28 February 2023.

Last November we experienced high demand for the Ecology Cash ISA. As a result of this we decided to withdraw the ISA for new Members (from 21 November).

For more information about the Ecology Cash ISA click here.

gabiieve

I'm interested in the Virgin flexible ISA 3%, but I'm worried they'll pull it out before the new tax year. 

With the rules as they are, could I open the account now and only move money on the 6th April? Or does that count as trying to fund two ISAs with money on the same year?

Aidanmc

gabiieve said:

I'm interested in the Virgin flexible ISA 3%, but I'm worried they'll pull it out before the new tax year. 

With the rules as they are, could I open the account now and only move money on the 6th April? Or does that count as trying to fund two ISAs with money on the same year?

Sure, you could open an account now if you wish. It doesnt count as funding 2 isa's if you don't actually pay anything in.

You need a Virgin current account to open Virgin ISA

Shawbrook and Cynergy also have easy access Isa's at 3%, I wouldn't worry too much about missing out.

Bridlington1

Bath BS have launched a cash LISA paying 3.19%, which is open to all aged 18-39. See:
https://www.bathbuildingsociety.co.uk/personal-savings/accounts/tax-free-accounts/lifetime-isa/

For those who want to get hold of Bath BS's high interest savings accounts that are for existing members or those who live,work or study in Bath but are aged 35-39 and as a result ineligible for the homestart regular saver, this is now another way in.

savit4l8er

hamski said:

hamski said:

 I also asked about the transfer procedure as I was concerned about how long the postal application would take, I was told once the forms are received by m&s bank the transfer is done electronically.
Posted transfer forms today ,fingers crossed it all goes smoothly 

Just an update in case anyone is thinking of doing a transfer to m&s , I received a email from West Brom bs advising me that a transfer request had been put in by m&s on my behalf for the date I requested ,so that’s 2 days after posting the forms to m&s. 

Good to know.  Apparently, they do electronic transfers out at maturity as well so it not wholly reliant on paper.
Their application is a bit OTT in terms of KYC but I expect the response will be that they get all the info at first should you want other products. I think most would rather give out only the bare essentials to organisations to keep things as safe as possible.