Cash ISAs: The Best Currently Available List

Ocelot

It's strange that fixed rates aren't falling by much, but fixed rate ISAs have fallen by quite a bit recently.

10_66

Virgin Money
OH opened a 1 Fixed Rate ISA with VM last month, with a nil balance.  Today, we wanted to transfer his existing ISA from VM to it, and to start a transfer in from another provider.  We couldn't see where to do this online, so rang them and they said it has to be done through their "continue with application" link.  Tried that, and all it does is take you to the option of downloading a form to post or go to a VM Store (don't have one anywhere near us).  Am I missing the blatantly obvious here, or can you only make transfers to VM by post?

Beddie

10_66 said:

Virgin Money
OH opened a 1 Fixed Rate ISA with VM last month, with a nil balance.  Today, we wanted to transfer his existing ISA from VM to it, and to start a transfer in from another provider.  We couldn't see where to do this online, so rang them and they said it has to be done through their "continue with application" link.  Tried that, and all it does is take you to the option of downloading a form to post or go to a VM Store (don't have one anywhere near us).  Am I missing the blatantly obvious here, or can you only make transfers to VM by post?

I had this scenario too. Here's the fix - open another fixed ISA with VM, assuming it's still available, then do the transfer as part of the application. If the rate has gone, then you are stuck with using the post or visiting a branch.

10_66

Thanks Beddie, I wondered about that.  What a fiasco!  Do you know if it only allows you to make one transfer or two (I have an ISA with another provider I need to transfer to them too).

Rich2808

10_66 said:

Virgin Money
OH opened a 1 Fixed Rate ISA with VM last month, with a nil balance.  Today, we wanted to transfer his existing ISA from VM to it, and to start a transfer in from another provider.  We couldn't see where to do this online, so rang them and they said it has to be done through their "continue with application" link.  Tried that, and all it does is take you to the option of downloading a form to post or go to a VM Store (don't have one anywhere near us).  Am I missing the blatantly obvious here, or can you only make transfers to VM by post?

During the initial application (when you can make multiple transfers) yes you can only do subsequent transfers with VM by post - or by printing out the same form and taking it to a Virgin money store which means you get a guarantee of receipt and may save postage (you may need an appointment).

They are, however shutting loads of their Virgin money stores over the next few weeks - including I believe every single store in Greater London by the end of November - and reverting back to a more limited network linked in the north of England and Scotland where Yorkshire and Clydesdale banks used to operate.. So for most people that branch route isn't or won't be an option. 


https://www.moneysavingexpert.com/news/2023/07/virgin-money-bank-closures/

So its a bit of a pain, You can just open another fixed rate account - as you will of course get the fixed rate for a few days/weeks longer - as has been stated.

10_66

Rich2808 said:

10_66 said:

Virgin Money
OH opened a 1 Fixed Rate ISA with VM last month, with a nil balance.  Today, we wanted to transfer his existing ISA from VM to it, and to start a transfer in from another provider.  We couldn't see where to do this online, so rang them and they said it has to be done through their "continue with application" link.  Tried that, and all it does is take you to the option of downloading a form to post or go to a VM Store (don't have one anywhere near us).  Am I missing the blatantly obvious here, or can you only make transfers to VM by post?

After the initial application yes you can only do transfers with VM by post - or by printing out the same form and taking it to a Virgin money store which means you get a guarantee of receipt and may save postage (you may need an appointment). They are, howeverm shutting loads of their Virgin money stores over the next few weeks - including I believe every single store in Greater London by the end of November.

https://www.moneysavingexpert.com/news/2023/07/virgin-money-bank-closures/

So its a bit of a pain. You can just open another fixed rate account - as you will of course get the fixed rate for a few days/weeks longer!

If OH opens another new one do you know if you have the option of arranging more than one transfer to it (an ISA with another provider needs to go them as well as as old VM one).

Rich2808

10_66 said:

Rich2808 said:

10_66 said:

Virgin Money
OH opened a 1 Fixed Rate ISA with VM last month, with a nil balance.  Today, we wanted to transfer his existing ISA from VM to it, and to start a transfer in from another provider.  We couldn't see where to do this online, so rang them and they said it has to be done through their "continue with application" link.  Tried that, and all it does is take you to the option of downloading a form to post or go to a VM Store (don't have one anywhere near us).  Am I missing the blatantly obvious here, or can you only make transfers to VM by post?

After the initial application yes you can only do transfers with VM by post - or by printing out the same form and taking it to a Virgin money store which means you get a guarantee of receipt and may save postage (you may need an appointment). They are, howeverm shutting loads of their Virgin money stores over the next few weeks - including I believe every single store in Greater London by the end of November.

https://www.moneysavingexpert.com/news/2023/07/virgin-money-bank-closures/

So its a bit of a pain. You can just open another fixed rate account - as you will of course get the fixed rate for a few days/weeks longer!

If OH opens another new one do you know if you have the option of arranging more than one transfer to it (an ISA with another provider needs to go them as well as as old VM one).

You can do multiple transfers as part of your initial application - one by one = but anything after the application process is completed online must be done by post using a printed ISA transfer form. I would start with the external transfers first.

rallycurve

Presumably you are talking about the VM exclusive ISAs (only for current account customers). The other open-to-all ISA does allow electronic transfers in for 30 days after the account is open

10_66

rallycurve said:

Presumably you are talking about the VM exclusive ISAs (only for current account customers). The other open-to-all ISA does allow electronic transfers in for 30 days after the account is open

Yes, it's the Exclusive 1 Year Fixed

10_66

Beddie said:

10_66 said:

Virgin Money
OH opened a 1 Fixed Rate ISA with VM last month, with a nil balance.  Today, we wanted to transfer his existing ISA from VM to it, and to start a transfer in from another provider.  We couldn't see where to do this online, so rang them and they said it has to be done through their "continue with application" link.  Tried that, and all it does is take you to the option of downloading a form to post or go to a VM Store (don't have one anywhere near us).  Am I missing the blatantly obvious here, or can you only make transfers to VM by post?

I had this scenario too. Here's the fix - open another fixed ISA with VM, assuming it's still available, then do the transfer as part of the application. If the rate has gone, then you are stuck with using the post or visiting a branch.

Rich2808 said:

You can do multiple transfers as part of your initial application - one by one = but anything after the application process is completed online must be done by post using a printed ISA transfer form. I would start with the external transfers first.

Thank you both. OH now managed to do the transfers online via another new application, phew!