Cash ISAs: The Best Currently Available List

stuartw101

Im thinking about opening a cash isa account. I haven't previously had one, i am willing to put it £3,000. I was just wondering whether barclays are my best option? Also after a year will i be able to move my money from this account to another cash isa account providing the bank accepts transfers from other bank isa accounts?

Hope you can help, i have been meaning to finally get a cash isa but have been unsure about it.

Thanks

Stu

Kazza242

stuartw101 - Barclays is currently the best ISA at the moment at 6.50%. As I've already used my allowance this tax year I'll be opening one of these next month. After a year, when the 1% bonus expires, you can transfer the money in your Barclays ISA to another provider - that accepts transfers.

roraima - To be honest, I don't know whether you can open the Tax Beater isa in a Woolwich branch, though I'm thinking this should be possible. I think the best thing to do is pop to your local Woolwich branch and ask them when there.

Pusser_2

Kazza, once again thank you for the advice. I will leave the Abbey account well alone and head for the Barclays one.

travel_freak

Hi Kazza,

Just wanted to say many thanks for your clear and helpful advice re ISAs.

Regards,

Kimberley

I want to save money for my trip to Australia next Easter (See my sig). I don't want to transfer over the net from my bank account, i'd rather go into a bank to put my savings in. I'd like one with a good interest rate. Can you recommend one please? :beer:

Kazza242

Kimberley wrote: »

I want to save money for my trip to Australia next Easter (See my sig). I don't want to transfer over the net from my bank account, i'd rather go into a bank to put my savings in. I'd like one with a good interest rate. Can you recommend one please? :beer:

The Barclays 6.50% Tax Beater ISA is definitely a good one to look into. It allows you to operate it via any Barclays branch:

Barclays ISA terms and conditions:-

2.2 The minimum deposit is £1 by transfer from another account, standing order, cheque, or by paying a cash amount into any barclays branch.

Also, at 6.50% your money will be earning a very high rate of (tax-free) interest, paid on the first working day of each month.

FairyElephant_2

Hiya,

I've been a good girl and put the max in various ISAs for the last 3 years. Last year I moved them all into one ISA with A&L.

I wanted to open a Barclays one for my 'new' £3K after 5th April.

Can I then also open one with another provider, and move my exisiting funds into it? I'm a bit confused, as this would be opening 2 ISAs in one year...even tho' only £3k would be 'new' money.
I don't want to move my 'old' money until after end of April 'cos I get a 0.70%bonus where it is until then.

If I can do this, do I have to move all of it, or can I just move part of it?
I'm happy to tie up most of it for 3 years (fixed rate mortgage ends in 3.5years, so looking to use ISA savings to pay nice lump off mortgage at that time) so looking at the Halifax offering at 5.8%.

If I can't do the above then I'm thinking of transferrring all the 'old' money to Northern Rock at 6.01% for one year, and putting my 'new' money there too.

Just want to check I will not be breaking any rules!

Thanks for any help/advice,

FE

Kazza242

FairyElephant - You're allowed to transfer your existing ISA to another provider and open a 'new money ISA (with which ever provider you choose), with up to £3,000 from April 6th 2007 - if you've already used this year's isa allowance.

You can choose to transfer all or part of your existing ISA savings to another provider. Although the current tax year's ISA savings, must be transferred in full.

stuartw101

Hopefully i will open an account with Barclays in the next couple of days. My only problem is how to transfer £3,000 from my Natwest bank account to Barclays to fulfill my 06/07 balance and then gradually put money in over the 07/08 period. I have a card plus account with Natwest which is a pretty basic account as i can't use cheques and can only withdraw around £250 from a cash machine.

Any ideas how i can go about this?

Thanks

Edit: Does NS&I accept transfers to their ISA's?

groverjoe

Kazza242 wrote: »

You can choose to transfer all or part of your existing ISA savings to another provider. Although the current tax year's ISA savings, must be transferred in full.

I've always found this ISA rule a little confusing - say for example in 07/08 I open a brand new ISA and deposit £2000, yet later decide I need to withdraw £500 for spending. Can a transfer to a new provider take place within the same tax year, as I now only have a balance of £1500, or would they only accept a transfer if I had the full £2000 originally deposited?