Cash ISAs: The Best Currently Available List

Stompa

I'm somewhat bemused to have received my paper annual online statements from Cynergy Bank today. Unfortunately, because I've had so many different issues, this amounts to 14 individual statements each posted separately! Weirdly they don't include the relevant issue number on each statement.

refluxer

dlevene said:

refluxer said:

I've been a Principality customer for a few years now and don't remember them doing so - at least none that have fallen on my radar.

I really like them and currently hold a number of their Regular Saver accounts but one thing to be aware of if you're looking at ISAs is that they don't utilise the BACs ISA transfer service, so ISA transfers (both in and out) can often be fairly slow. Saying that, the transfers I've done have been carried out within the allowed timescales but (unlike BACS transfers) it normally takes weeks rather than days.

Weeks? Blimey!

Yes, a week or two. In the past, I've had ISA transfers sometimes even take months if there is an issue or one of the providers is really slow (eg. NS&I - I'm not including the Principality in this !). Fortunately, when this does happen (in my experience at least) the new provider normally backdates the interest so you don't lose out.

The official (government) deadline for a cash ISA transfer is 15 working days, which allows for account management at either end and funds to be sent via the post. BACs ISA transfers can get this down to as little as a few days with the right providers, though.

Hal17

I am in the process of receiving funds from my Vanguard S&S ISA into various cash Isas.

The Virgin Money account is very good in that you can upgrade to the latest version which is now showing 5.3% for a one year fix.

I am disappointed that Shawbrook have no such facility and their 14 day cooling off period is 14 days from when the account is opened, not when they received funds.

So stuck at 4.63% for the next 12 months with Shawbrook. Remember that S&S ISA transfers take longer and at this time when interest rates are changing quickly its a bit of a lottery.

pecunianonolet

Hal17 said:

I am in the process of receiving funds from my Vanguard S&S ISA into various cash Isas.

The Virgin Money account is very good in that you can upgrade to the latest version which is now showing 5.3% for a one year fix.

I am disappointed that Shawbrook have no such facility and their 14 day cooling off period is 14 days from when the account is opened, not when they received funds.

So stuck at 4.63% for the next 12 months with Shawbrook. Remember that S&S ISA transfers take longer and at this time when interest rates are changing quickly its a bit of a lottery.

I wish I would have the 4.63% with Shawbrook. Opened a 1y fix in April, initially at 4.17 but within 14 days it went to 4.21% and 16-17 days after up again. Stuck with 4.21% now until April next year 

soulsaver

Hal17 said:

I am in the process of receiving funds from my Vanguard S&S ISA into various cash Isas.

The Virgin Money account is very good in that you can upgrade to the latest version which is now showing 5.3% for a one year fix.

I am disappointed that Shawbrook have no such facility and their 14 day cooling off period is 14 days from when the account is opened, not when they received funds.

So stuck at 4.63% for the next 12 months with Shawbrook. Remember that S&S ISA transfers take longer and at this time when interest rates are changing quickly its a bit of a lottery.

Virgin upgrade? I must have missed that. From an earlier fix? At no cost?

rallycurve

soulsaver said:

Hal17 said:

I am in the process of receiving funds from my Vanguard S&S ISA into various cash Isas.

The Virgin Money account is very good in that you can upgrade to the latest version which is now showing 5.3% for a one year fix.

I am disappointed that Shawbrook have no such facility and their 14 day cooling off period is 14 days from when the account is opened, not when they received funds.

So stuck at 4.63% for the next 12 months with Shawbrook. Remember that S&S ISA transfers take longer and at this time when interest rates are changing quickly its a bit of a lottery.

Virgin upgrade? I must have missed that. From an earlier fix? At no cost?

Only free if within the 14 day cooling off period

r6mile

I have the Coventry Limited Access ISA at 4.1% which I use for slightly more longer term savings.
Plus the Newcastle BS tracker at 4.3% to dip in much more regularly. 

Worth saying I am on the edge ofthe High Income Child Benefit Charge and have 3 kids, so for every £1 in non-ISA interest 29p of my child benefit potentially gets clawed back. Hence ISAs are much more attractive to me.

As an unlimited access flexible ISA this Principality account at 4.2% seems very attractive and I could consolidate. However if the ISA transfer takes ages and must be done by post etc I wonder if it’s worthwhile? Any advice very welcome. I also wonder how quick transfers out are?

dlevene

I suppose 15 working days isn't too horrendous, but that has settled my mind on whether to transfer from 4.1% on Coventry now, or wait until the next BoE decision (ie. rise!)

dlevene

pookey said:

wiseonesomeofthetime said:

dlevene said:

ForumUser7 said:

Principality Online ISA -> 4.20% ~ MoneyFacts

Nice. I'd made my peace with staying put with Coventry until the next BoE decision but good to see they're still creeping upwards.

Almost at parity with normal EA, which is great. Though I'm still salty about missing out on the YBS loyalty ISA which I think is now at 5%!

Yeah, that is the one account that has worked in my favour, for a change

Me too, so glad I managed to get 2 of them

How? One each across two financial years? 

Hal17

Yes sorry - the upgrade was within the 14 day cooling off period. Although it seems it was calculated from when funds arrived, not when the account was opened. So happy with that.

Pecunianonoiet - sorry to hear about your experience with Shawbrook.