Cash ISAs: The Best Currently Available List

dlevene

Shedman said:

qbadger said:

Moneybox Easy access cash ISA, interest rate now 5%

Anyone know if they automatically move an existing EA ISA rate up from 4.75% to 5% (as its not showing as that new rate on my stepdaughters) or do you have to request an internal transfer to the new ISA (and if so how....secure message?). Thanks

When they increased it from 4.65% to 4.75% it was automatically applied. 

ETA - they've confirmed on social media it's automatically applied. Mine now showing as 5% in the app.

pecunianonolet

Skipton now also offers a cash ISA at 4.9%, also flexible same as Coventry. Rate includes a 1% bonus for 12 months.

Shedman

dlevene said:

Shedman said:

qbadger said:

Moneybox Easy access cash ISA, interest rate now 5%

Anyone know if they automatically move an existing EA ISA rate up from 4.75% to 5% (as its not showing as that new rate on my stepdaughters) or do you have to request an internal transfer to the new ISA (and if so how....secure message?). Thanks

When they increased it from 4.65% to 4.75% it was automatically applied. 

ETA - they've confirmed on social media it's automatically applied. Mine now showing as 5% in the app.

Thanks.  She has now had an email this morning about it being effective from 2 Oct and the new rate appears on the app.  Just strange that they don't email on or before the date of increase and/or change the rate that day.  

dlevene

Shedman said:

dlevene said:

Shedman said:

qbadger said:

Moneybox Easy access cash ISA, interest rate now 5%

Anyone know if they automatically move an existing EA ISA rate up from 4.75% to 5% (as its not showing as that new rate on my stepdaughters) or do you have to request an internal transfer to the new ISA (and if so how....secure message?). Thanks

When they increased it from 4.65% to 4.75% it was automatically applied. 

ETA - they've confirmed on social media it's automatically applied. Mine now showing as 5% in the app.

Thanks.  She has now had an email this morning about it being effective from 2 Oct and the new rate appears on the app.  Just strange that they don't email on or before the date of increase and/or change the rate that day.  

Yeah - the communication hasn't been *brilliant*, but generally they've made good decisions!

r6mile

pecunianonolet said:

Skipton now also offers a cash ISA at 4.9%, also flexible same as Coventry. Rate includes a 1% bonus for 12 months.

Very interesting - compared with their Tracker (at -0.55% BoE for 2 years) which is currently 4.70%. Both easy access and flexible.

I am thinking the Tracker is still the better option as at least you have the certainty of a decent rate for 2 years, but what do others think?

sparkiemalarkie

r6mile said:

pecunianonolet said:

Skipton now also offers a cash ISA at 4.9%, also flexible same as Coventry. Rate includes a 1% bonus for 12 months.

Very interesting - compared with their Tracker (at -0.55% BoE for 2 years) which is currently 4.70%. Both easy access and flexible.

I am thinking the Tracker is still the better option as at least you have the certainty of a decent rate for 2 years, but what do others think?

I was wondering if there was a way to have both. Move the majority of the ISA to the Bonus Cash ISA and a nominal amount in the tracker to keep it open. However, I don't think Skipton allow internal partial transfers.

sx

2010

I`ve gone from the Skipton tracker to the bonus 15.
IMO there`s only one more 25bp increase.
So getting the 4.9% now is just as good as waiting for 4.95% later maybe!

r6mile

sparkiemalarkie said:

r6mile said:

pecunianonolet said:

Skipton now also offers a cash ISA at 4.9%, also flexible same as Coventry. Rate includes a 1% bonus for 12 months.

Very interesting - compared with their Tracker (at -0.55% BoE for 2 years) which is currently 4.70%. Both easy access and flexible.

I am thinking the Tracker is still the better option as at least you have the certainty of a decent rate for 2 years, but what do others think?

I was wondering if there was a way to have both. Move the majority of the ISA to the Bonus Cash ISA and a nominal amount in the tracker to keep it open. However, I don't think Skipton allow internal partial transfers.

sx

Surely that’s only possible if you have previous year’s money only in the Tracker? In my case it’s all this years money so have to choose.

Eirambler

Is the solution not to go for the Moneybox 5% offer? Beats the 4.9% ISA and beats the tracker even if there's another 0.25% rise.

Personally I'm hoping there might be a 5% offer with monthly interest payments soon.

pecunianonolet

r6mile said:

sparkiemalarkie said:

r6mile said:

pecunianonolet said:

Skipton now also offers a cash ISA at 4.9%, also flexible same as Coventry. Rate includes a 1% bonus for 12 months.

Very interesting - compared with their Tracker (at -0.55% BoE for 2 years) which is currently 4.70%. Both easy access and flexible.

I am thinking the Tracker is still the better option as at least you have the certainty of a decent rate for 2 years, but what do others think?

I was wondering if there was a way to have both. Move the majority of the ISA to the Bonus Cash ISA and a nominal amount in the tracker to keep it open. However, I don't think Skipton allow internal partial transfers.

sx

Surely that’s only possible if you have previous year’s money only in the Tracker? In my case it’s all this years money so have to choose.

The normal account can have the rate or bonus amended at any time and can be dropped to whatever is deemed right for the market condition. So it could fall quicker but not necessarily will. If we expect a further BOE rise (I doubt it), an increase might not happen at all or only a little bit. A fall in BOE rate, might be passed on fully/partly straight away but might also only be passed on with a lag of a few weeks or even months.

The tracker is sitting a bit lower but will provide you the security that any increases are fully passed on. Any rate reduction are as well, so if you expect rates to drop at a higher frequency the tracker protects you from a rapid fall. 

In the end, it is flexible so unless you take a lot out and can't replenish you can transfer again. I think you have to make up your mind of how the market is going to be in 6 months when the financial year comes to an end and your funds become "old" money. 

I personally would go with the higher rate and bag what's possible now and monitor the market. Some fixes have already been reduced quite a bit so you need to decide what you prefer and what the longer term goal is.