Cash ISAs: The Best Currently Available List

soulsaver

How long does the target (Shawbrook?) ISA allow at nil balance? 

You could possibly do it with Virgin at 5.25% which DOES allow a nil balance. After it comes off sale there's a 30 day window (IIRC so DYOR) in which to initiate the transfer, which must be within 6 weeks of the request - takes you well into April. 

25_Years_On

2010 said:

Hypo question.

If I had a 1yr fix ISA with Shawbrook which matures in April, could I open a new one which currently is paying 4.98%, and I then transfer my current 1yr fix that matures in April into it without penalty?

You can't transfer without penalty before it matures in April.

bristolleedsfan

2010 said:

Hypo question.

If I had a 1yr fix ISA with Shawbrook which matures in April, could I open a new one which currently is paying 4.98%, and I then transfer my current 1yr fix that matures in April into it without penalty?

"Transfers in from other Shawbrook Cash ISAs are permitted subject to the account being open for new funding"

https://www.shawbrook.co.uk/media/6013/1-year-fixed-rate-cash-isa-bond-87.pdf  - additional information

DJSINGH

soulsaver said:

How long does the target (Shawbrook?) ISA allow at nil balance? 

You could possibly do it with Virgin at 5.25% which DOES allow a nil balance. After it comes off sale there's a 30 day window (IIRC so DYOR) in which to initiate the transfer, which must be within 6 weeks of the request - takes you well into April. 

In regards to the virgin 5.25%, it looks like there is a manual step though before they will accept:

If you don’t pay in any money into your Easy
Access Cash ISA Exclusive in a tax year, your
ISA Declaration will expire. Don’t worry, you’ll
just need to sign and return to us a new ISA
Declaration before you can pay in any more
money. We’ll let you know if and when you
need to do this

CuparLad

Shawbrook Fixed ISAs

Just reading through the interesting comments about Shawbrook allowing transfers in through the duration of the fix (IIRIC). I have a SecureTrust fix expiring in a couple of weeks, but since all currently available fixes are below the 5.05% Four Access ISA with Coventry, I was going to pop the maturing funds in there for the time being.

The comments above seem to suggest I could nab the existing 4.98% 1 Yr fix with Shawbrook now and use it as an insurance policy in case Coventry drop their rates. Am I right? If so, presumably I only need to put the minimum £1K into Shawbrook for now?

soulsaver

CuparLad said:

Shawbrook Fixed ISAs

Just reading through the interesting comments about Shawbrook allowing transfers in through the duration of the fix (IIRIC). I have a SecureTrust fix expiring in a couple of weeks, but since all currently available fixes are below the 5.05% Four Access ISA with Coventry, I was going to pop the maturing funds in there for the time being.

The comments above seem to suggest I could nab the existing 4.98% 1 Yr fix with Shawbrook now and use it as an insurance policy in case Coventry drop their rates. Am I right? If so, presumably I only need to put the minimum £1K into Shawbrook for now?

Yes... But check if Shawbrook latest issue allows transfers in from third parties.

Alternatively Virgin Money has 5.25% fix available with at least 30 day funding window after it goes off sale (isn't yet) but think you'll need a VM current account to get it - so don't hang around; you have to get it open to benefit. 
1 Year Fixed Rate Cash ISA Exclusive | ISAs | Savings | Virgin Money UK

refluxer

CuparLad said:

Shawbrook Fixed ISAs

Just reading through the interesting comments about Shawbrook allowing transfers in through the duration of the fix (IIRIC). I have a SecureTrust fix expiring in a couple of weeks, but since all currently available fixes are below the 5.05% Four Access ISA with Coventry, I was going to pop the maturing funds in there for the time being.

The comments above seem to suggest I could nab the existing 4.98% 1 Yr fix with Shawbrook now and use it as an insurance policy in case Coventry drop their rates. Am I right? If so, presumably I only need to put the minimum £1K into Shawbrook for now?

The official line from Shawbrook is that transfer requests have to be made at the time of application and that they reserve the right to reject future requests although it would appear from comments made by other posters that many have had success in transferring-in at a later stage.

• Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused

Note that you'd only be able to pay £1,000 into the Shawbrook ISA to keep it open in the meantime if you haven't paid anything from this current tax year's ISA allowance into another cash ISA during the current tax year ?

refluxer

soulsaver said:

refluxer said:

CuparLad said:

Shawbrook Fixed ISAs

Just reading through the interesting comments about Shawbrook allowing transfers in through the duration of the fix (IIRIC). I have a SecureTrust fix expiring in a couple of weeks, but since all currently available fixes are below the 5.05% Four Access ISA with Coventry, I was going to pop the maturing funds in there for the time being.

The comments above seem to suggest I could nab the existing 4.98% 1 Yr fix with Shawbrook now and use it as an insurance policy in case Coventry drop their rates. Am I right? If so, presumably I only need to put the minimum £1K into Shawbrook for now?

The official line from Shawbrook is that transfer requests have to be made at the time of application and that they reserve the right to reject future requests although it would appear from comments made by other posters that many have had success in transferring-in at a later stage.

• Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused

Note that you'd only be able to pay £1,000 into the Shawbrook ISA to keep it open in the meantime if you haven't paid anything from this current tax year's ISA allowance into another cash ISA during the current tax year ?

Why I said check: Conflict in the terms further down:  "Transfers in from other ISA providers are not permitted."

That sentence applies to the 'Cash ISA Matured Funds' account (which is the account the fixed rate ISA defaults to at the end of the fixed term if no maturity instructions are submitted) and not to the fixed rate ISA itself, which you can transfer into.

soulsaver

refluxer said:

soulsaver said:

refluxer said:

CuparLad said:

Shawbrook Fixed ISAs

Just reading through the interesting comments about Shawbrook allowing transfers in through the duration of the fix (IIRIC). I have a SecureTrust fix expiring in a couple of weeks, but since all currently available fixes are below the 5.05% Four Access ISA with Coventry, I was going to pop the maturing funds in there for the time being.

The comments above seem to suggest I could nab the existing 4.98% 1 Yr fix with Shawbrook now and use it as an insurance policy in case Coventry drop their rates. Am I right? If so, presumably I only need to put the minimum £1K into Shawbrook for now?

The official line from Shawbrook is that transfer requests have to be made at the time of application and that they reserve the right to reject future requests although it would appear from comments made by other posters that many have had success in transferring-in at a later stage.

• Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused

Note that you'd only be able to pay £1,000 into the Shawbrook ISA to keep it open in the meantime if you haven't paid anything from this current tax year's ISA allowance into another cash ISA during the current tax year ?

Why I said check: Conflict in the terms further down:  "Transfers in from other ISA providers are not permitted."

That sentence applies to the 'Cash ISA Matured Funds' account (which is the account the fixed rate ISA defaults to at the end of the fixed term if no maturity instructions are submitted) and not to the fixed rate ISA itself, which you can transfer into.

Thanks. I didn't read it closely hence me saying 'Check'. Post removed to avoid confusion.

pecunianonolet

I have opened my Shawbrook 1y fix last April, put 10k in it and after 13 days they upped the rate and I could upgrade as still within the cooling off period. I had the 10k sitting there for a bit and made gradually new additions and been chucking all my rewards, account switch bonus payments, etc in there. Sometimes I made a pay in of just a 5er, sometimes a lot more. Interest is paid monthly for me. I can't contribute any experience about transfer in but I can certainly say that I made many additional contributions during the fixed term. I kind of was treating it as a sort of regular saver.

On the Virgin 1y fix at 5.25%, can I clarify below scenario:

1. Open account 06/02/24 (leave dormant at 0 balance)

2. Assume account withdrawn from sale 07/02/24

3. 30 days, to either pay in new funds or provide instructions to transfer in any previous year funds. My calculation takes me to 8th March?

So if I would leave it until the end, and provide transfer in instructions on the 8th March, could I instruct them to not start the transfer until e.g. 1st April? What's the maximum delay between providing instructions and transfer start date?

This could provide a very long window of opportunity in a declining market to secure what's left (I was unable to grab the 5.85% 1y at the time as I was tied up with Shawbrook and with penalty I would have still been at loss).