Cash ISAs: The Best Currently Available List

steveksullivan

I know.....  and by the way, in the same phone call I also confirmed that I would be able to deposit next years allowance ...... I described my situation in great detail .... maturing funds from various accounts over the next few months, maturing ISA in October and next years allowance and was told I would be OK to deposit all of these !!

alternate

Glad you got that confirmed, otherwise I would write it off as CS talking out of their rear.

Everyone get on board Shawbrook!

caveman38

Do you mean depositing say 40K today and would show on the account  as 20K for 22/23 and 20K for 23/24 or how does it work?

steveksullivan

caveman38 said:

Do you mean depositing say 40K today and would show on the account  as 20K for 22/23 and 20K for 23/24 or how does it work?

No - the ISA allowance is 20K per year (and we are already in 2023-2024....) have opened the account with 1K, will deposit more in the coming weeks and transfer an existing ISA in in October.

Then after April 6th 2024 (new tax year....) I will deposit NEXT years allowance  - assuming the rate is still competitive as many think rates have peaked. If there is a better ISA around then, I will open that instead .......

caveman38

steveksullivan said:

caveman38 said:

Do you mean depositing say 40K today and would show on the account  as 20K for 22/23 and 20K for 23/24 or how does it work?

No - the ISA allowance is 20K per year (and we are already in 2023-2024....) have opened the account with 1K, will deposit more in the coming weeks and transfer an existing ISA in in October.

Then after April 6th 2024 (new tax year....) I will deposit NEXT years allowance  - assuming the rate is still competitive as many think rates have peaked. If there is a better ISA around then, I will open that instead .......

Sorry I got my dates wrong. But do you have to inform them of your intentions for 24/25 or just wait till April 6 2024 and if the rate at 4.37% (assuming you open a 3yr ISA) is still competitive , add to existing ISA?

isasmurf

Zopa Cash ISA 
Can use allowance in any combination of 'pots' 
Transfers in not accepted.
Transfers out in full only. No partial transfer out

Pots
Access 2.5%
1yr 4.30%
2yr 4.35%
3yr 4.40%
4yr 4.25%
5yr 4.25%

refluxer

isasmurf said:

Zopa Cash ISA 
Can use allowance in any combination of 'pots' 
Transfers in not accepted.
Transfers out in full only. No partial transfer out

Pots
Access 2.5%
1yr 4.30%
2yr 4.35%
3yr 4.40%
4yr 4.25%
5yr 4.25%

Decent fixed rates and the ability to spread your allowance over different products presumably puts them in a relatively small list of providers who offer 'portfolio' ISAs. Shame that transfers in aren't allowed - presumably, they don't want the hassle.

These don't appear to be available to all at the moment though, as they're not listed on their website. I'm a current Zopa customer and they're not even showing as an option for me (and others) yet.

steveksullivan

caveman38 said:

steveksullivan said:

caveman38 said:

Do you mean depositing say 40K today and would show on the account  as 20K for 22/23 and 20K for 23/24 or how does it work?

No - the ISA allowance is 20K per year (and we are already in 2023-2024....) have opened the account with 1K, will deposit more in the coming weeks and transfer an existing ISA in in October.

Then after April 6th 2024 (new tax year....) I will deposit NEXT years allowance  - assuming the rate is still competitive as many think rates have peaked. If there is a better ISA around then, I will open that instead .......

Sorry I got my dates wrong. But do you have to inform them of your intentions for 24/25 or just wait till April 6 2024 and if the rate at 4.37% (assuming you open a 3yr ISA) is still competitive , add to existing ISA?

According to their customer service, the latter.

You can just continue to add to and transfer into the ISA throughout the period of the fix (they say ....) Mine is the two  year product ...

Others on here seem to have confirmed they have been able to add as described ..... we'll see ..... first test on Wednesday with the first of my matured accounts. If all this does work, I think they must be the most flexible provider in this regard. Dont know any others that allow this ...

Any comments?

isasmurf

refluxer said:

isasmurf said:

Zopa Cash ISA 
Can use allowance in any combination of 'pots' 
Transfers in not accepted.
Transfers out in full only. No partial transfer out

Pots
Access 2.5%
1yr 4.30%
2yr 4.35%
3yr 4.40%
4yr 4.25%
5yr 4.25%

Decent fixed rates and the ability to spread your allowance over different products presumably puts them in a relatively small list of providers who offer 'portfolio' ISAs. Shame that transfers in aren't allowed - presumably, they don't want the hassle.

These don't appear to be available to all at the moment though, as they're not listed on their website. I'm a current Zopa customer and they're not even showing as an option for me (and others) yet.

There may be a link under your existing smart saver pots. It's not being advertised in the savings section on the app. It's marked as Beta so they may be trying it out on a selection of existing customers before a full launch. 

The policy of transfers out in full could be problematic if the fixed pots are opened at different times or for different periods, as to transfer out you either need to hold matured pots in the low rate access pot while waiting for all fixed pots to mature or pay the early access penalty.

caveman38

Others on here seem to have confirmed they have been able to add as described ..... we'll see ..... first test on Wednesday with the first of my matured accounts. If all this does work, I think they must be the most flexible provider in this regard. Dont know any others that allow this

Please post whether you are successful with your next deposit