Cash ISAs: The Best Currently Available List

soulsaver

sparkiemalarkie said:

Thank you soulsaver, this worked for me too !!
Did you get an email confirming ?

sx

I asked if they did, he said they don't but gave me a transfer reference.. and I  kept a note of the CS's name, date & time of the conversation.

soulsaver

@sparkiemalarkie Have you checked your VM account? 

akh43

Has there been a sudden drop in rates as just checked the list on page one under the 1 year fixed ISAs allowing transfers and lots are either no longer available or the rates have reduced to under 5%.  I can't do Virgin as would take me over the FSCS, but M&S, Tesco, Paragon, Aldermore, Kent Reliance, United Trust, Newcastle NLA, Metro not taking applications until the new year (not that I would have gone with them) UBL the first one I have found that is still as stated at 5.10%.  Also started to look at the 2 years and the ones I have checked so far have also dropped their rates.

Ocelot

akh43 said:

Has there been a sudden drop in rates as just checked the list on page one under the 1 year fixed ISAs allowing transfers and lots are either no longer available or the rates have reduced to under 5%.  I can't do Virgin as would take me over the FSCS, but M&S, Tesco, Paragon, Aldermore, Kent Reliance, United Trust, Newcastle NLA, Metro not taking applications until the new year (not that I would have gone with them) UBL the first one I have found that is still as stated at 5.10%.  Also started to look at the 2 years and the ones I have checked so far have also dropped their rates.

It's been more gradual.

Best fixed rates in August:  

Best FRB 13/8/23: 5yr - 5.81; 3yr - 6.05; 2yr - 6.1; 1yr - 6.1

Best Isa   13/8/23: 5yr - 5.26; 3yr - 5.6; 2yr - 5.75; 1yr - 5.77

Last week:

Best FRB 16/12/23: 5yr - 4.81; 3yr - 5; 2yr - 5.2; 1yr - 5.66

Best Isa   16/12/23: 5yr - 4.81; 3yr - 4.87; 2yr - 5.01 1yr - 5.21

(excluding Metro branch one)

Today:

Best FRB 23/12/23: 5yr - 4.81; 3yr - 5; 2yr - 5.15 1yr - 5.66

Best Isa   23/12/23: 5yr - 4.81; 3yr - 4.87; 2yr - 4.85 1yr - 5.1

sparkiemalarkie

soulsaver said:

@sparkiemalarkie Have you checked your VM account? 

I've just had a look at my account and it all seems good...nothing has changed. Has something happened to yours?
sx

akh43

Ocelot said:

akh43 said:

Has there been a sudden drop in rates as just checked the list on page one under the 1 year fixed ISAs allowing transfers and lots are either no longer available or the rates have reduced to under 5%.  I can't do Virgin as would take me over the FSCS, but M&S, Tesco, Paragon, Aldermore, Kent Reliance, United Trust, Newcastle NLA, Metro not taking applications until the new year (not that I would have gone with them) UBL the first one I have found that is still as stated at 5.10%.  Also started to look at the 2 years and the ones I have checked so far have also dropped their rates.

It's been more gradual.

Best fixed rates in August:  

Best FRB 13/8/23: 5yr - 5.81; 3yr - 6.05; 2yr - 6.1; 1yr - 6.1

Best Isa   13/8/23: 5yr - 5.26; 3yr - 5.6; 2yr - 5.75; 1yr - 5.77

Last week:

Best FRB 16/12/23: 5yr - 4.81; 3yr - 5; 2yr - 5.2; 1yr - 5.66

Best Isa   16/12/23: 5yr - 4.81; 3yr - 4.87; 2yr - 5.01 1yr - 5.21

(excluding Metro branch one)

Today:

Best FRB 23/12/23: 5yr - 4.81; 3yr - 5; 2yr - 5.15 1yr - 5.66

Best Isa   23/12/23: 5yr - 4.81; 3yr - 4.87; 2yr - 4.85 1yr - 5.1

I have a shawbrook 5.83% which I opened in October, but that is almost at the 85k limit, I also opened a Virgin issue 9 5.50% on 18 December for a couple of upcoming transfers, that was pulled just after I opened, but again almost at the 85k limit. 

I have a Barclays maturing in mid January and was looking for somewhere to transfer it to, going off the few available decent rates and the speed they are droping after looking around I was debating between a 1 year at 5% or a 2 year at 4.80% at Skipton as I am already with them and decided to go for a 2 year 4.80% as I think the rates will continue to drop. 

soulsaver

sparkiemalarkie said:

soulsaver said:

@sparkiemalarkie Have you checked your VM account? 

I've just had a look at my account and it all seems good...nothing has changed. Has something happened to yours?
sx

Yep - they made the transfer yesterday...
.. and applied early closure penalty! 

I'll be complaining... eventually.  

sparkiemalarkie

soulsaver said:

sparkiemalarkie said:

soulsaver said:

@sparkiemalarkie Have you checked your VM account? 

I've just had a look at my account and it all seems good...nothing has changed. Has something happened to yours?
sx

Yep - they made the transfer yesterday...
.. and applied early closure penalty! 

I'll be complaining... eventually.  

Blast, that's a shame. Not what was promised!.
They could 'reinstate' the penalty at a later date. This happened to one of my VM accounts when it was switched very close to the final switching date. I have 2 amounts recorded in the new account
I will keep an eye on my account - If you were prepared to lose the penalty you would have closed it months ago.

Thanks for letting me know.

sx

Navigaor31

Just opened (not paid into) the Principality Cash ISA (Online bonus one).

I was planning on transferring from my current Cash ISA - Which I have paid into already this year. 

Looking at this the transfer can take up to 15 days once the form is received (via post).  - However the initial deposit needs to be made within 5 days otherwise the account will be closed.

Didn't realise this until after sign up (I know always read!).

So I suppose a couple of questions:

1) Would paying £1 (the minimum amount for the ISA) into the principality ISA, be a bad thing at this stage? As I will be initiating the transfer process right away? - but i'd have technically paid into 2 ISA's at the same time within the same year?

2) If i take the form into a branch, will they initiate the Transfer quicker than posting? - I.e, they will mark my account with an incoming transfer thus postponing the account closure? Or is posting the form just as quick?

refluxer

Navigaor31 said:

Just opened (not paid into) the Principality Cash ISA (Online bonus one).

I was planning on transferring from my current Cash ISA - Which I have paid into already this year. 

Looking at this the transfer can take up to 15 days once the form is received (via post).  - However the initial deposit needs to be made within 5 days otherwise the account will be closed.

Didn't realise this until after sign up (I know always read!).

So I suppose a couple of questions:

1) Would paying £1 (the minimum amount for the ISA) into the principality ISA, be a bad thing at this stage? As I will be initiating the transfer process right away? - but i'd have technically paid into 2 ISA's at the same time within the same year?

2) If i take the form into a branch, will they initiate the Transfer quicker than posting? - I.e, they will mark my account with an incoming transfer thus postponing the account closure? Or is posting the form just as quick?

If you declared the ISA will be funded with a transfer at the time you opened it, then the funding window shouldn't apply as that is for new subscriptions only. As they don't use the BACs ISA (electronic) transfer service and require paper forms and transfers via cheque (both via post), then it would be virtually impossible for such a transfer to happen within 5 days anyway.

If there wasn't an opportunity to request the transfer at the time of application, then you just need to request one via whatever method they require ASAP. If you do have a branch locally, then this will almost-certainly speed the process up, compared with posting the transfer form off.

Essentially, the bottom line is that they need to be made aware that the ISA will be funded with a transfer only, so that the 5 day funding requirement doesn't automatically close the account. 

It's been a few years since I last did this with the Principality, but I've funded a number of their cash ISAs with just a transfer over the years and never had any issues.

You mustn't pay into the new ISA as you've already funded the other ISA during this tax year and that breaks ISA rules.