Cash ISAs: The Best Currently Available List

rallycurve

nomorekids said:

Nat West ISA transfer. Once the transfer has taken place, ie the ISA is funded, does the Nat West cooling off period still apply? Hoping someone will know the answer. I regret getting the one year rate with Nat West and hoping to transfer to the two year higher 5.9 rate but can not get through on the phone and boy do the people on the Ask Cora chat, give generalised ISA advice that I aready know rather than actually answer the question other than to tell me to phone their ISA line and wait everytime, just to be cut off. 

I believe your money isn't fixed until the 1st September so you should be free to move it.

Can I withdraw money?

You can withdraw money from your account (in branch or by telephone) until 01 September 2023 at 3:30pm. Partial withdrawals are not permitted after this time.

If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice to your branch. An Early Closure Charge will apply, except in the event of your death.

bristolleedsfan

badger09 said:

2010 said:

How would things go if on the last day of the cooling off period you wanted to transfer to a new provider, bearing in mind it`s the new provider who has to request the transfer.
Would this be allowed or is it just for an internal transfer with your current provider.

Quite few on here have done the "Virgin shuffle" and I can confirm that this is also possible with Charter but I haven`t heard of anyone trying to transfer to another provider within the cooling off period.

See this thread where poster was charged interest penalty on xfer of Virgin ISA to another provider within cooling off period

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest

Poster thread relates to did not notify Virgin Money that he wanted to cancel ISA with them under 14 day cooling off period, he merely initiated a transfer out elsewhere 

All someone has to do is notify existing provider within 14 day cooling off period wish to cancel. makes no difference if providers actions request after 14 day period has elapsed,

Correct procedure would have been for ISA funds to be returned to originating account not transferred to another ISA provider.

bristolleedsfan

nomorekids said:

Nat West ISA transfer. Once the transfer has taken place, ie the ISA is funded, does the Nat West cooling off period still apply? Hoping someone will know the answer. I regret getting the one year rate with Nat West and hoping to transfer to the two year higher 5.9 rate but can not get through on the phone and boy do the people on the Ask Cora chat, give generalised ISA advice that I aready know rather than actually answer the question other than to tell me to phone their ISA line and wait everytime, just to be cut off. 

Fantastic service via direct message     https://twitter.com/NatWest_Help
Best to submit application for 2 year ISA immediately being as Closing date to open your account - Existing Customer - 14 August

2010

bristolleedsfan said:

badger09 said:

2010 said:

How would things go if on the last day of the cooling off period you wanted to transfer to a new provider, bearing in mind it`s the new provider who has to request the transfer.
Would this be allowed or is it just for an internal transfer with your current provider.

Quite few on here have done the "Virgin shuffle" and I can confirm that this is also possible with Charter but I haven`t heard of anyone trying to transfer to another provider within the cooling off period.

See this thread where poster was charged interest penalty on xfer of Virgin ISA to another provider within cooling off period

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest

Poster thread relates to did not notify Virgin Money that he wanted to cancel ISA with them under 14 day cooling off period, he merely initiated a transfer out elsewhere 

All someone has to do is notify existing provider within 14 day cooling off period wish to cancel. makes no difference if providers actions request after 14 day period has elapsed,

Correct procedure would have been for ISA funds to be returned to originating account not transferred to another ISA provider.

What if the money couldn`t be transferred to the originating account because it has been closed, as in the case of an existing ISA transfer, which is not new money.

badger09

bristolleedsfan said:

badger09 said:

2010 said:

How would things go if on the last day of the cooling off period you wanted to transfer to a new provider, bearing in mind it`s the new provider who has to request the transfer.
Would this be allowed or is it just for an internal transfer with your current provider.

Quite few on here have done the "Virgin shuffle" and I can confirm that this is also possible with Charter but I haven`t heard of anyone trying to transfer to another provider within the cooling off period.

See this thread where poster was charged interest penalty on xfer of Virgin ISA to another provider within cooling off period

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest

Poster thread relates to did not notify Virgin Money that he wanted to cancel ISA with them under 14 day cooling off period, he merely initiated a transfer out elsewhere 

All someone has to do is notify existing provider within 14 day cooling off period wish to cancel. makes no difference if providers actions request after 14 day period has elapsed,

Correct procedure would have been for ISA funds to be returned to originating account not transferred to another ISA provider.

Yes I’m aware of that. 

However, the hypothetical question, posed by @2010 in the post which I quoted & to which I was replying, also made no mention of notifying Virgin of the intention to use cancel during the cooling off period

bristolleedsfan

2010 said:

bristolleedsfan said:

badger09 said:

2010 said:

How would things go if on the last day of the cooling off period you wanted to transfer to a new provider, bearing in mind it`s the new provider who has to request the transfer.
Would this be allowed or is it just for an internal transfer with your current provider.

Quite few on here have done the "Virgin shuffle" and I can confirm that this is also possible with Charter but I haven`t heard of anyone trying to transfer to another provider within the cooling off period.

See this thread where poster was charged interest penalty on xfer of Virgin ISA to another provider within cooling off period

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest

Poster thread relates to did not notify Virgin Money that he wanted to cancel ISA with them under 14 day cooling off period, he merely initiated a transfer out elsewhere 

All someone has to do is notify existing provider within 14 day cooling off period wish to cancel. makes no difference if providers actions request after 14 day period has elapsed,

Correct procedure would have been for ISA funds to be returned to originating account not transferred to another ISA provider.

What if the money couldn`t be transferred to the originating account because it has been closed, as in the case of an existing ISA transfer, which is not new money.

Possibly rare in case of ISA transfer for someone to decide to cancel within 14 days after funds have been transferred without wishing to transfer to another ISA within new ISA providers offerings, I did so myself a few months ago having kept old ISA  account open.

2010

bristolleedsfan said:

2010 said:

bristolleedsfan said:

badger09 said:

2010 said:

How would things go if on the last day of the cooling off period you wanted to transfer to a new provider, bearing in mind it`s the new provider who has to request the transfer.
Would this be allowed or is it just for an internal transfer with your current provider.

Quite few on here have done the "Virgin shuffle" and I can confirm that this is also possible with Charter but I haven`t heard of anyone trying to transfer to another provider within the cooling off period.

See this thread where poster was charged interest penalty on xfer of Virgin ISA to another provider within cooling off period

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest

Poster thread relates to did not notify Virgin Money that he wanted to cancel ISA with them under 14 day cooling off period, he merely initiated a transfer out elsewhere 

All someone has to do is notify existing provider within 14 day cooling off period wish to cancel. makes no difference if providers actions request after 14 day period has elapsed,

Correct procedure would have been for ISA funds to be returned to originating account not transferred to another ISA provider.

What if the money couldn`t be transferred to the originating account because it has been closed, as in the case of an existing ISA transfer, which is not new money.

Possibly rare in case of ISA transfer for someone to decide to cancel within 14 days after funds have been transferred without wishing to transfer to another ISA within new ISA providers offerings, I did so myself a few months ago having kept old ISA  account open.

The way rates have been changing daily you could easily find a higher rate with another provider inside the 14 day period and want to transfer.
I can`t see any clear cut rules for this scenario and would imagine it would be up to each provider to decide when contacted.

bristolleedsfan

2010 said:

bristolleedsfan said:

2010 said:

bristolleedsfan said:

badger09 said:

2010 said:

How would things go if on the last day of the cooling off period you wanted to transfer to a new provider, bearing in mind it`s the new provider who has to request the transfer.
Would this be allowed or is it just for an internal transfer with your current provider.

Quite few on here have done the "Virgin shuffle" and I can confirm that this is also possible with Charter but I haven`t heard of anyone trying to transfer to another provider within the cooling off period.

See this thread where poster was charged interest penalty on xfer of Virgin ISA to another provider within cooling off period

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest

Poster thread relates to did not notify Virgin Money that he wanted to cancel ISA with them under 14 day cooling off period, he merely initiated a transfer out elsewhere 

All someone has to do is notify existing provider within 14 day cooling off period wish to cancel. makes no difference if providers actions request after 14 day period has elapsed,

Correct procedure would have been for ISA funds to be returned to originating account not transferred to another ISA provider.

What if the money couldn`t be transferred to the originating account because it has been closed, as in the case of an existing ISA transfer, which is not new money.

Possibly rare in case of ISA transfer for someone to decide to cancel within 14 days after funds have been transferred without wishing to transfer to another ISA within new ISA providers offerings, I did so myself a few months ago having kept old ISA  account open.

The way rates have been changing daily you could easily find a higher rate with another provider inside the 14 day period and want to transfer.

https://forums.moneysavingexpert.com/discussion/comment/80226343/#Comment_80226343

2010  said 10th August  "but I haven`t heard of anyone trying to transfer to another provider within the cooling off period"

https://forums.moneysavingexpert.com/discussion/comment/80231020/#Comment_80231020

badger09 said Today at 9:31AM " however, the hypothetical question, posed by @2010 

2010

@bristolleedsfan

I open a new fixed rate cash ISA and fund it from an existing account, transferring the full amount.
The old provider transfers the money and closes the account.
Within the 14 day cooling off period of the new account I find a higher rate with another provider.
How does the current provider deal with this transfer request?

This is not hypothetical but something that could easily happen in the current scramble by providers to have the highest rate.

Don`t take quotes out of context, just answer the question or say you don`t know.

bristolleedsfan

2010 said:

@bristolleedsfan

I open a new fixed rate cash ISA and fund it from an existing account, transferring the full amount.
The old provider transfers the money and closes the account.
Within the 14 day cooling off period of the new account I find a higher rate with another provider.
How does the current provider deal with this transfer request?

This is not hypothetical but something that could easily happen in the current scramble by providers to have the highest rate.

Don`t take quotes out of context, just answer the question or say you don`t know.

eskbanker has provided all the answers within thread badger09 linked, this being a key point.

"the cooling off period is there to allow you to cancel a new product and unwind it as if you'd never opened and used it"

https://forums.moneysavingexpert.com/discussion/6466213/cash-isa-transfer#latest