Cash ISAs: The Best Currently Available List

FishInGlass

I requested the transfer from my Fixed Rate ISA 4 into a new ISA10 on maturity via their online mechanism. I them had 4 separate texts between the 17th and 22nd Jan all saying the same that they have my maturity instructions and that it will switch within 5 business days of maturity (7th Feb by my reckoning).

My account has temporarily transferred to a Flexi ISA2, the interest showed up yesterday dated 31st Jan and today I can see the rate is now 4.76%.

Today I also received another text saying it is in progress and that I will see my account has been updated to the new product by Tuesday 6th February.

I agree I can't see why an internal ISA transfer needs to take this long but in this instance I will lose at most approx 0.5% for 6 days. This at least is better than Shawbrook who put my money into a 0.1% easy access ISA whilst the transfer to Virgin was taking place. 

Update Saturday 3rd Feb - money now in shiny new Exc Fixed ISA10 at 5.25% :-)

BigBlueSky

Same here - Got lots and lots of texts saying the same thing.  Just noticed that I am too on the 4.76% account now waiting to be put on the ISA 10.

DJSINGH

Is it possible to open the Virgin Fixed 5.25 isa and fund in the next Tax year? I want to open to secure the rate but cant fund this year. The summary says you can fund up to 30 days after it closes, so assuming it stays open by April, would it be allowed?

flaneurs_lobster

DJSINGH said:

Is it possible to open the Virgin Fixed 5.25 isa and fund in the next Tax year? I want to open to secure the rate but cant fund this year. The summary says you can fund up to 30 days after it closes, so assuming it stays open by April, would it be allowed?

I opened and funded this ISA last month. I too read the phrase 

You can pay money into your ISA as soon as it's opened, right up until 30 days after we stop selling this account.

I also received a SMS stating that I could only add money until a date 30 days after the opening date.

I have no idea if these restrictions are the same thing. I don't know what "stop selling this account" actually means. Does it mean the product generally or my specific instance of it?
 
In any case I doubt if you will be able to open that ISA now and fund it in April.

RG2015

flaneurs_lobster said:

DJSINGH said:

Is it possible to open the Virgin Fixed 5.25 isa and fund in the next Tax year? I want to open to secure the rate but cant fund this year. The summary says you can fund up to 30 days after it closes, so assuming it stays open by April, would it be allowed?

I opened and funded this ISA last month. I too read the phrase 

You can pay money into your ISA as soon as it's opened, right up until 30 days after we stop selling this account.

I also received a SMS stating that I could only add money until a date 30 days after the opening date.

I have no idea if these restrictions are the same thing. I don't know what "stop selling this account" actually means. Does it mean the product generally or my specific instance of it?
 
In any case I doubt if you will be able to open that ISA now and fund it in April.

I did this with an earlier version which I opened and funded immediately. I received a text on 23/11/23 saying I had 30 days it which I could add to it.

Edit: It was issue 7 which launched on 1/11/23. I received the text on 23/11/23 and added to it in 20/12/23. The issue was withdrawn on 23/12/23.

Hence it all hinges on when VM withdraw it. To qualify for next year’s ISA allowance it would need to still be available on 6/3/24.

The link below let’s you check launch and withdrawal dates for any VM savings account.

https://uk.virginmoney.com/savings/helpful-information/find-your-interest-rate/

drphila

doodlector said:

pecunianonolet said:

drphila said:

pecunianonolet said:

Just seen in the app Moneybox offers £25 cashback for opening an ISA (Cash or Stocks and Shares ISA) and paying or transferring in at least £500 by 31st January. They say you get £50 if you open both types. An in progress transfer counts.

Debating to transfer some funds from the 5.05% Cash ISA with Coventry to get the £25 cashback and it's a higher rate too with 5.09%, although the interest difference hardly makes a difference, even on 20k

Anyone done it or has experience with Moneybox ISA and transfer? Worth the hassle?

Just had a quick look on the website and no mention of this offer so presumably I have to download and open the app to see it

Yes, it's in the app and also the whole terms. The below is what I get straight after log in.

This may just be for existing customers?  I just signed on to the app and I have the option to open a cash ISA but no mention of cashback.

Just had this email from them:

You’re registered, time to open an account!

It looks like you didn’t finish setting up. Open an account before 11.59pm on 5th February 2024 to claim your free £10 gift card and start working on your goals with Moneybox. T&Cs apply.

soulsaver

DJSINGH said:

Is it possible to open the Virgin Fixed 5.25 isa and fund in the next Tax year? I want to open to secure the rate but cant fund this year. The summary says you can fund up to 30 days after it closes, so assuming it stays open by April, would it be allowed?

It maybe possible. I'd open the account NOW and not fund it to see when it goes 'off-sale'. You maybe find  the 30 days takes you into the new FY.

But if you're transferring in a maturing ISA you may have a lot longer to do it than that:

A transfer in request near the end of the 30 days is counted by VM as 'funding'  - gets another 6 week window to get the funds transferred in.

pecunianonolet

pecunianonolet said:

Principality EA ISA 5.06% now NLA and replaced with slightly lower rate of 5.0% 

Now back at 5.05%, same as Coventry BS

Flexible ISA, unlimited withdrawals (only 4 with Coventry BS), interest annual (monthly option with Coventry)

Source: Moneyfacts

soulsaver

I don't know if useful to anyone and spurs them to act:

I just moved my 23/24 £20k from my YBS loyalty 6 access flexi eISA 5.2%atm (variable) ending May.. into my Shawbrook 1 year fix at 5.78% maturity Sept - they are one of those rare beasts that allow you to continue to add to fixes.. until they tell you you can't.

If like me you're doing it without a transfer, make sure you investigate the rules - I stuck to the current year's £20k as after that my certainty in what's allowed evaporates and it wasn't big numbers - so I left earned interest and previous years bits behind. 

Before anyone says it, I'm aware I could have done it earlier but the short answer is I needed the flexibility earlier. 

ETA Shawbrook - not afaiaa Skipton.. and 'if like me' etc caveat.

pecunianonolet

soulsaver said:

I don't know if useful to anyone and spurs them to act:

I just moved my 23/24 £20k from my YBS loyalty 6 access flexi eISA 5.2%atm (variable) ending May.. into my Skipton 1 year fix at 5.78% maturity Sept - Skipton are one of those rare beasts that allow you to continue to add to fixes.. until they tell you you can't.

If you're doing it make sure you investigate the rules - I stuck to the current year's £20k as after that my certainty in what's allowed evaporates and it wasn't big numbers - so I left earned interest and previous years bits behind. 

Before anyone says it, I'm aware I could have done it earlier but the short answer is I needed the flexibility earlier.  

Thanks for the heads up, didn't know that Skipton let's you add to a fix. Was only aware of Shawbrook offering this feature. A good rate too.