Cash ISAs: The Best Currently Available List

DJSINGH

pookey said:

Regarding the virgin 1 year fixed at 5.75%, how long do they give you to transfer in an ISA? I  wanted to leave it a few days in case something better comes along

Open a virgin m plus account then open their 5.85% exclusive isa? 

SickGroove

So, once you've opened a Virgin ISA but don't transfer any funds during application, how do you transfer the funds from a maturing ISA at a later date? Can you add the transfer details online once other ISA matures or do you have to call them to instigate the transfer of previous ISA funds?

Reed_Richards

SickGroove said:

So, once you've opened a Virgin ISA but don't transfer any funds during application, how do you transfer the funds from a maturing ISA at a later date? Can you add the transfer details online once other ISA matures or do you have to call them to instigate the transfer of previous ISA funds?

You probably can't do this with any fixed rate ISA.  Typically you have a limited time period in which to add funds.  In the case of one (non-Virgin) that I opened recently it was 14 days from opening or until the ISA was withdrawn from sale, whichever was the later.  That would be the time limit for applying to make the transfer, it doesn't have to complete within that specified time but it does have to start immediately, no waiting.

pookey

DJSINGH said:

pookey said:

Regarding the virgin 1 year fixed at 5.75%, how long do they give you to transfer in an ISA? I  wanted to leave it a few days in case something better comes along

Open a virgin m plus account then open their 5.85% exclusive isa? 

I didn't want to open another current account. It's only £20 difference in interest 

refluxer

Paragon have released Issue 2 of their Double Access Cash ISA @ 4.95%.

• 4.95% variable for up to 2 withdrawals every 12 months (reduces to 1.50% from the 3rd withdrawal)
• £1,000 minimum balance - £500,000 maximum
• Freedom to spread your tax-free ISA allowance across multiple ISAs with Paragon’s ISA Wallet
• Flexibility to withdraw and replace your ISA funds without affecting your ISA allowance
• Quickly and easily transfer your existing ISAs
• Unlimited deposits up to your maximum account balance

For those wanting to upgrade from issue 1 (or another easy access Paragon ISA), IIRC you simply open the new account and there should be an option to fund it via a transfer from your existing Paragon ISA during the application process. This normally takes a day or so for them to action, in my experience.

https://www.paragonbank.co.uk/savings/cash-isas/double-access-cash-isa

DJSINGH

pookey said:

DJSINGH said:

pookey said:

Regarding the virgin 1 year fixed at 5.75%, how long do they give you to transfer in an ISA? I  wanted to leave it a few days in case something better comes along

Open a virgin m plus account then open their 5.85% exclusive isa? 

I didn't want to open another current account. It's only £20 difference in interest 

So you wanting to wait if something better comes along but dont want a .1% higher rate. I think youll be lucky if anything better comes along

pecunianonolet

refluxer said:

Paragon have released Issue 2 of their Double Access Cash ISA @ 4.95%.

• 4.95% variable for up to 2 withdrawals every 12 months (reduces to 1.50% from the 3rd withdrawal)
• £1,000 minimum balance - £500,000 maximum
• Freedom to spread your tax-free ISA allowance across multiple ISAs with Paragon’s ISA Wallet
• Flexibility to withdraw and replace your ISA funds without affecting your ISA allowance
• Quickly and easily transfer your existing ISAs
• Unlimited deposits up to your maximum account balance

For those wanting to upgrade from issue 1 (or another easy access Paragon ISA), IIRC you simply open the new account and there should be an option to fund it via a transfer from your existing Paragon ISA during the application process. This normally takes a day or so for them to action, in my experience.

https://www.paragonbank.co.uk/savings/cash-isas/double-access-cash-isa

Hmm, Coventry 4.9% vs. paragon 4.95% with 4 vs. 2 withdrawal options as both flexible and £1 vs £1000 opening balance.

Is Paragon counting the 12 months from account opening or per calendar year for their 2 withdrawals?

Decisions, decisions,....

Rich2808

Just a warning re Coventry BS - which I forgot they do.

I did an isa transfer into their new 4.9% ISA. They sent me a letter confirming this - and on the back the letter showed in full

My full name
Date of birth
Full address
NI number
Home phone, work phone and mobile phone - in full
Email address

Absolutely appalling in terms of personal data security disclosing this in a letter second class post - just to confirm an ISA transfer was incoming.

This really should not happen!

10_66

If I have an ISA account with this current year’s subscription in it (not the full allowance though), can I transfer this into another new ISA account that will also have previous years’ subscriptions transferred to it?  And will I also be able to add the rest of this year’s subscription if I wish to later?  I know that I can split previous years’ into any number of accounts, but current year has to be kept together.

refluxer

pecunianonolet said:

refluxer said:

Paragon have released Issue 2 of their Double Access Cash ISA @ 4.95%.

• 4.95% variable for up to 2 withdrawals every 12 months (reduces to 1.50% from the 3rd withdrawal)
• £1,000 minimum balance - £500,000 maximum
• Freedom to spread your tax-free ISA allowance across multiple ISAs with Paragon’s ISA Wallet
• Flexibility to withdraw and replace your ISA funds without affecting your ISA allowance
• Quickly and easily transfer your existing ISAs
• Unlimited deposits up to your maximum account balance

For those wanting to upgrade from issue 1 (or another easy access Paragon ISA), IIRC you simply open the new account and there should be an option to fund it via a transfer from your existing Paragon ISA during the application process. This normally takes a day or so for them to action, in my experience.

https://www.paragonbank.co.uk/savings/cash-isas/double-access-cash-isa

Hmm, Coventry 4.9% vs. paragon 4.95% with 4 vs. 2 withdrawal options as both flexible and £1 vs £1000 opening balance.

Is Paragon counting the 12 months from account opening or per calendar year for their 2 withdrawals?

Decisions, decisions,....

I guess it comes down to how many times you think you're likely to need to access the money. For me personally, I don't need much access in which case the Paragon account suits my needs.

The other thing to note is that they work in different ways when you go over the allotted number of withdrawals - Coventry charge a fee for the 5th withdrawal onwards (including closure) whereas Paragon reduce the rate, meaning you could transfer away without charge if you found you needed to access the money more than twice and could secure a similar rate elsewhere.

For Paragon, the time period for the 2 withdrawals is 12 months from account opening...

"When will you get the lower interest rate?
The lower interest rate will apply from your third withdrawal to the day before the anniversary of your account opening. From your anniversary your interest rate and withdrawals reset. So, you will have two more withdrawals before the rate reduces."