Cash ISAs: The Best Currently Available List

gwapenut

I must say I found Zopa a bit frustrating this time last year when I had a query about a delayed money transfer. Perhaps I don't want to entrust them with my ISA. Transfers are fine when they go to plan, but about half of mine don't, and it's then that you need some half decent customer service.

CuparLad

Kent Reliance Cash ISA 1 Year Fixed Rate - Issue 93

I'm considering this for an existing fix that matures on 6th April (so next tax year). The T&Cs state that:

Transfer of additional ISA funds from other providers are permitted however this request must be received within 30 days of your account being opened. The time required to complete your transfer to Kent Reliance will be determined by your current provider.

The ISA Transfer form appears to be manual (https://www.kentreliance.co.uk/media/lmnjj5gh/1849_transfer_of_isa_funds_from_another_isa_provider_0518.pdf) even though you select when you open the account whether an ISA Transfer is part of the application.

Does anyone have an experience of KR's transfer process? Are they Cheque/Post or do they use the BACS system? As someone mentioned earlier there's no definitive and up to date list of scheme members and the most up to date I could find (https://support.nutmeg.com/?article=115000724371-ISA-providers-who-support-Electronic-Transfers) doesn't list KR.

Unfortunately, when the current fix matures, the funds get allocated a new account number ( ) so I can't initiate the transfer until after maturity when the funds will be languishing in a poorly-paying instant access ISA account. I'd like to minimise the time spent at a poor rate, but ensure that I don't open the KR ISA too early and limit the length of the term (which presumably starts when the account is opened, not when its funded).

10_66

harz99 said:

10_66 said:

10_66 said:

gwapenut said:

@10_66
Thank you for the information - could you keep us informed if you investigate with Zopa. It is worth knowing if they are up to funny business with incoming transfers. If so I will just fund them with this and next year's allowance.

Ok, will do.

Well, I have used Zopa in the past, but the experience has certainly changed since I last had anything to do with them.  I tried to contact them via chat this morning, the person didn't read my message as their reply was not relevant to my query, so I asked for a phone number, they confirmed open at 9am.  I rang, not taking calls.  I got back to chat, and this time they didn't even ask what my query was, and said they understood that I want to close my account (which, of course, I had not mentioned).   Absolutely hopeless.

Sounds like the chat is with a chat bot not a real live person...

Initially it was chat bot, but I just bypassed the questions by saying speak to someone, I then had the option to speak to a "real" person - not that that helped.

pecunianonolet

New Plum ISA

T&C's: https://withplum.com/legal/terms.html#Cash_ISA_T&Cs

- Non flexible
- Headline rate including bonus only for new money, non competitive rate for transfers in
- Rather unfavourable terms and forfeiture of interest if closed within 12 months or transferred out. See point 2.14 in T&C's

In summary, nice headline rate but not so nice when you check the details and restrictions and potential interest losses. DYOR

Emily_Joy

Coventry BS four access ISA is down to 4.55%.

refluxer

CuparLad said:

Kent Reliance Cash ISA 1 Year Fixed Rate - Issue 93

I'm considering this for an existing fix that matures on 6th April (so next tax year). The T&Cs state that:

Transfer of additional ISA funds from other providers are permitted however this request must be received within 30 days of your account being opened. The time required to complete your transfer to Kent Reliance will be determined by your current provider.

The ISA Transfer form appears to be manual (https://www.kentreliance.co.uk/media/lmnjj5gh/1849_transfer_of_isa_funds_from_another_isa_provider_0518.pdf) even though you select when you open the account whether an ISA Transfer is part of the application.

Does anyone have an experience of KR's transfer process? Are they Cheque/Post or do they use the BACS system? As someone mentioned earlier there's no definitive and up to date list of scheme members and the most up to date I could find (https://support.nutmeg.com/?article=115000724371-ISA-providers-who-support-Electronic-Transfers) doesn't list KR.

Unfortunately, when the current fix matures, the funds get allocated a new account number ( ) so I can't initiate the transfer until after maturity when the funds will be languishing in a poorly-paying instant access ISA account. I'd like to minimise the time spent at a poor rate, but ensure that I don't open the KR ISA too early and limit the length of the term (which presumably starts when the account is opened, not when its funded).

Kent Reliance are included on both Cynergy and Shawbrook's lists of providers who use the BACs ISA transfer service - is your current provider listed too ?

I've not opened a Kent Reliance cash ISA myself so can't comment on their application process, but it's not unusual for many providers to have both electronic and paper options for ISA transfers, the latter of which is used if the sending provider doesn't use the service.

If you're concerned about timings, then requesting that the maturing fixed rate ISA gets transferred into the same provider's easy access option (if they offer one) might ensure you get a better rate than the default option in the event of any delays.

10_66

Re Virgin Easy Access Flexible ISA.  I withdrew from this account last year and now need to replace the withdrawn amounts before the end of this financial year.  All of the funds in it were from previous years subs.  There are no details on the account information of the amount I can replace (I know what it is, what's worrying me is, do they?).  Does anyone have experience of replacing withdrawn amounts into Virgin Flexible ISAs, please?

RG2015

10_66 said:

Re Virgin Easy Access Flexible ISA.  I withdrew from this account last year and now need to replace the withdrawn amounts before the end of this financial year.  All of the funds in it were from previous years subs.  There are no details on the account information of the amount I can replace (I know what it is, what's worrying me is, do they?).  Does anyone have experience of replacing withdrawn amounts into Virgin Flexible ISAs, please?

A very interesting question. Mine was down at zero but I put the money back up to the closing balance at the previous year end. There was no problem at all.

The following year I put money in and out on the same day. It appears that their system adds all up the credits on the day before deducting the debits. Hence it appeared that I had exceeded the previous year’s balance despite not ever doing this.

The credit was rejected almost immediately. I spoke to their customer services and they said I couldn’t add to the account because I had already opened an ISA with them that year.

I said he was wrong and he consulted all his colleagues and they all agreed with him.

In the end I waited a few days and put the money back in without any problems. I have subsequently continued to deposit and withdraw without any further issues.

Hence it was just the timing I got wrong on that single day. I am now careful to avoid this scenario.

I will find a link to my post on this and post it here.


https://forums.moneysavingexpert.com/discussion/6429395/flexible-cash-isa-rules/p1

RetSol

gwapenut said:

I must say I found Zopa a bit frustrating this time last year when I had a query about a delayed money transfer. Perhaps I don't want to entrust them with my ISA. Transfers are fine when they go to plan, but about half of mine don't, and it's then that you need some half decent customer service.

Glad that it's not just me.

Aidanmc

Emily_Joy said:

Coventry BS four access ISA is down to 4.55%.

When does this take effect from please?