Cash ISAs: The Best Currently Available List

Frogletina

@Kazza242

The Virgin defined access ISA issue 25 became NLA 26/3 (5.06%) - currently on your list

The Virgin defined access ISA issue 26 followed this but was only available between 26/3 and 28/3, so now NLA  (5.01%)

pecunianonolet

typeractive said:

Hi all,

Like many others I'm shopping around to find an ISA that's right for me. Currently I'm looking for an ISA which I can get access to with ease, and without penalty, just in case I wish to utilise the savings for other activities. I want to be able to:

• Transfer in my existing ISA balance,
• Have access if required without a notice period,
• Not be penalised if I withdraw the money and then add back into it (though this isn't really essential).

I'm thinking the Post Office at 4.9% is possibly my 'best' option for a known brand.

Does anyone else have any thoughts?
Thanks  

Moneybox 5.16%, Zopa 5.08%, Principality 5.0%

- All 3 allow transfer in
- All 3 are easy access and allow to withdraw, Moneybox with some limits
- Zopa and Principality are flexible ISA's and allow you to take out and put back without affecting your allowance

If your ISA funds are this year or previous year subscriptions is not known from your post. 

If previous year funds:

Transfer in to Moneybox for the best rate. You could transfer in the majority of your funds and open also Zopa or Principality and only transfer in the minimum required or any amount that suits you as emergency fund. You can now operate with this for emergency and should you need more money you could at any time initiate a transfer from Moneybox to Zopa/Principality and take out what you need. You can pay back and transfer back to Moneybox if you wanted to. 

The changes in rates in the next months should be taken into account too. Some accounts might become NLA so having a few ISA's open, even with just minimal balances might help to slow down the rate dropping, should rates fall quicker.

If this years funds and you want to move before the 6th, you would need to move it all. In this case I would use Zopa or Principality. On the 6th it becomes previous years money and you can split as you wish and the new rules are in place too. 

You could also just open Principality and sit tight because the funding window will be long enough to wait until funds turn into previous year subscriptions. 

info_maniac

pecunianonolet said:

typeractive said:

Hi all,

Like many others I'm shopping around to find an ISA that's right for me. Currently I'm looking for an ISA which I can get access to with ease, and without penalty, just in case I wish to utilise the savings for other activities. I want to be able to:

• Transfer in my existing ISA balance,
• Have access if required without a notice period,
• Not be penalised if I withdraw the money and then add back into it (though this isn't really essential).

I'm thinking the Post Office at 4.9% is possibly my 'best' option for a known brand.

Does anyone else have any thoughts?
Thanks  

Moneybox 5.16%, Zopa 5.08%, Principality 5.0%

- All 3 allow transfer in
- All 3 are easy access and allow to withdraw, Moneybox with some limits
- Zopa and Principality are flexible ISA's and allow you to take out and put back without affecting your allowance

If your ISA funds are this year or previous year subscriptions is not known from your post. 

If previous year funds:

Transfer in to Moneybox for the best rate. You could transfer in the majority of your funds and open also Zopa or Principality and only transfer in the minimum required or any amount that suits you as emergency fund. You can now operate with this for emergency and should you need more money you could at any time initiate a transfer from Moneybox to Zopa/Principality and take out what you need. You can pay back and transfer back to Moneybox if you wanted to. 

The changes in rates in the next months should be taken into account too. Some accounts might become NLA so having a few ISA's open, even with just minimal balances might help to slow down the rate dropping, should rates fall quicker.

If this years funds and you want to move before the 6th, you would need to move it all. In this case I would use Zopa or Principality. On the 6th it becomes previous years money and you can split as you wish and the new rules are in place too. 

You could also just open Principality and sit tight because the funding window will be long enough to wait until funds turn into previous year subscriptions. 

Might be worth reading this thread if you are considering transfers in/out of Moneybox

https://forums.moneysavingexpert.com/discussion/6496469/update-isa-transfer-they-lost-my-money-do-you-lose-interest-when-switching/p1

rallycurve

pecunianonolet said:

typeractive said:

Hi all,

Like many others I'm shopping around to find an ISA that's right for me. Currently I'm looking for an ISA which I can get access to with ease, and without penalty, just in case I wish to utilise the savings for other activities. I want to be able to:

• Transfer in my existing ISA balance,
• Have access if required without a notice period,
• Not be penalised if I withdraw the money and then add back into it (though this isn't really essential).

I'm thinking the Post Office at 4.9% is possibly my 'best' option for a known brand.

Does anyone else have any thoughts?
Thanks  

Moneybox 5.16%, Zopa 5.08%, Principality 5.0%

- All 3 allow transfer in
- All 3 are easy access and allow to withdraw, Moneybox with some limits
- Zopa and Principality are flexible ISA's and allow you to take out and put back without affecting your allowance

If your ISA funds are this year or previous year subscriptions is not known from your post. 

If previous year funds:

Transfer in to Moneybox for the best rate. You could transfer in the majority of your funds and open also Zopa or Principality and only transfer in the minimum required or any amount that suits you as emergency fund. You can now operate with this for emergency and should you need more money you could at any time initiate a transfer from Moneybox to Zopa/Principality and take out what you need. You can pay back and transfer back to Moneybox if you wanted to. 

The changes in rates in the next months should be taken into account too. Some accounts might become NLA so having a few ISA's open, even with just minimal balances might help to slow down the rate dropping, should rates fall quicker.

If this years funds and you want to move before the 6th, you would need to move it all. In this case I would use Zopa or Principality. On the 6th it becomes previous years money and you can split as you wish and the new rules are in place too. 

You could also just open Principality and sit tight because the funding window will be long enough to wait until funds turn into previous year subscriptions. 

But do they accept electronic ISA transfers? I believe they don't which means you might have to post a paper form, costing some extra pence and time

Malchester

This may have been mentioned previously but I asked a question of Zopa,. If you have an easy access pot, a 1year pot and a 2 year pot can you transfer the easy access pot elsewhere. The answer is NO. You have to transfer out all pots thus taking the interest penalty. This makes planning very difficult.  So when the 1 year pot matures you cannot move it without moving the 2 year pot. Not very appealing as an account to me.  If you only have one pot it's OK.

slinger2

Malchester said:

This may have been mentioned previously but I asked a question of Zopa,. If you have an easy access pot, a 1year pot and a 2 year pot can you transfer the easy access pot elsewhere. The answer is NO. You have to transfer out all pots thus taking the interest penalty. This makes planning very difficult.  So when the 1 year pot matures you cannot move it without moving the 2 year pot. Not very appealing as an account to me.  If you only have one pot it's OK.

(assuming you're talking about ISAs) That seems to be correct. I've opened an Access ISA (variable) and a 1 year fix. That means it's costly to transfer both before the 1 year fix ends. However the Access ISA is flexi, so at least you can take that part out if needed, with the option to return it before the end of the tax year.

Malchester

slinger2 said:

Malchester said:

This may have been mentioned previously but I asked a question of Zopa,. If you have an easy access pot, a 1year pot and a 2 year pot can you transfer the easy access pot elsewhere. The answer is NO. You have to transfer out all pots thus taking the interest penalty. This makes planning very difficult.  So when the 1 year pot matures you cannot move it without moving the 2 year pot. Not very appealing as an account to me.  If you only have one pot it's OK.

(assuming you're talking about ISAs) That seems to be correct. I've opened an Access ISA (variable) and a 1 year fix. That means it's costly to transfer both before the 1 year fix ends. However the Access ISA is flexi, so at least you can take that part out if needed, with the option to return it before the end of the tax year.

Yes I am talking about ISA which is why I posted it in a forum about ISAs!!!!!!!!

badger09

Frogletina said:

@Kazza242

The Virgin defined access ISA issue 25 became NLA 26/3 (5.06%) - currently on your list

The Virgin defined access ISA issue 26 followed this but was only available between 26/3 and 28/3, so now NLA  (5.01%)

On 31 March I mentioned Iss 25 being NLA. Blinked & missed Iss 26 though.  

gelato_cat

The Cynergy Online ISA Issue 44 (5.00%) is currently not available - the website says they'll be allowing new applications in the new tax year.  Be interesting to see what the interest rate is when it comes back.

https://www.cynergybank.co.uk/personal/online-isa

refluxer

Malchester said:

This may have been mentioned previously but I asked a question of Zopa,. If you have an easy access pot, a 1year pot and a 2 year pot can you transfer the easy access pot elsewhere. The answer is NO. You have to transfer out all pots thus taking the interest penalty. This makes planning very difficult.  So when the 1 year pot matures you cannot move it without moving the 2 year pot. Not very appealing as an account to me.  If you only have one pot it's OK.

Yes, I've mentioned this a number of times to people who expressed an interest in Zopa cash ISAs as it's a pretty important caveat, just as you've discovered.

Essentially, all ISA pots are considered to be part of the same 'Smart ISA' (you only get one account reference number) and, because partial transfers out aren't allowed, all your Smart ISA pots will be tied up in Zopa until the maturity of the longest fixed pot, if you want to transfer the whole lot away without a penalty.

As you also mentioned, this isn't a problem if you only intend to have an easy access pot or a single fixed pot, though. I've got a 3 year fixed rate Zopa pot but won't be putting any further ISA subscriptions into other ISA pots due to this restriction.