Cash ISAs: The Best Currently Available List

gt94sss2

uk1 said:

Is there a way of forward scheduling in a newly opened Virgin fixed term ISA from an ISA from another bank maturing within the next 30 days.  In other words a form you can enter the existing ISA account details and the expiry date and ask for all of the maturing balance including interest to be transferred after that date?

The Virgin ISA transfer form will give you two options. One is 'transfer immediately' and the other will say something like 'serve notice before this instruction is processed'.

It's the 2nd option you need to choose.

2010

OakNorth Bank 1yr Fixed Rate Cash ISA @ 5.78%, min. £1, mobile banking, interest paid monthly aer 5.63%

LoopySnooker

LoopySnooker said:

@2010

yes, I probably could do something like that but TBH it has put me off as the real positive for me with the current one is how easy it is to switch within the cooling off period if/when the rates improve. I’ve done it a few times over the last 6 weeks or so and it’s literally done within 2 minutes.

Word of warning to anyone thinking of transferring from the Virgin Fixed ISA (08 sort code prefix) to the new ‘Exclusive’ (82 sort code prefix). 

Despite being told that they would not action the transfer via secure message (so I decided not to bother) they have gone ahead and done it and Virgin have also decided to deduct what appears to be 90 days interest from the old ISA even though it’s within the cooling off period. 

2010

Charter 2yr fixed ISA still top but now up slightly to 5.8%.

Maybe they`ll move their 1yr fix ISA up to 5.8% as well to take that to the top of the table.

Casper7

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

2010

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Casper7

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

2010

Casper7 said:

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

That`s because it`s a Triple  Access account.

• You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
• You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
• Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account

Casper7

2010 said:

Casper7 said:

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

That`s because it`s a Triple  Access account.

• You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
• You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
• Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account

So if let’s say I withdraw the money after 6 months. Will I still get the interest earned in the first 6 months? Do they deposit it in the ISA account?

Catplan

Casper7 said:

2010 said:

Casper7 said:

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

That`s because it`s a Triple  Access account.

• You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
• You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
• Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account

So if let’s say I withdraw the money after 6 months. Will I still get the interest earned in the first 6 months? Do they deposit it in the ISA account?

Depends what you mean by withdraw, If it’s a flexible / Easy access ISA with for example 10k and you withdraw 5k no interest would be paid at withdrawal, if it would still be paid as per t&c’s. If you transferred the ISA to another ISA after 6 months the. Interest would also be transferred. I’ve had flexible ISA’s in the past and taken money out and replaced the interest is still paid annually.