Cash ISAs: The Best Currently Available List

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.

PCPLUM

d63 said:

flaneurs_lobster said:

d63 said:

rallycurve said:

It looks like Virgin Money have retired their market leader 1 year exclusive cash ISA at 5.25%
Maybe because we are near the tax year end or maybe they are planning on releasing a new version?
Current top 1 year is 5.07%

Uh-oh! Now what happens? I left them instructions for my old virgin fixed  isa 5 to be transferred to the fixed isa 10 when it matures in 2 days time on the 29th of march. This is not looking good.

If the new account was opened and the transfer request accepted before VM withdrew the 5.25% product then there should be no problems with the transfer or the new ISA. 

OTOH there does seem to be precedent for Virgin Money making a complete Horlicks of just about any kind of ISA transfer (although my recent move to them completed without a hitch).

umm. that is not encouraging!!  
sadly all i have at the moment is their standard text message from 17th march saying: "Great news! We've got your maturity instructions, so nothing else for you to do.  Your account will switch to your chosen product within 5 business days of your maturity date - 29th March 2024 and you will be able to view this in the mobile app or internet banking."

d63 said:

flaneurs_lobster said:

d63 said:

rallycurve said:

It looks like Virgin Money have retired their market leader 1 year exclusive cash ISA at 5.25%
Maybe because we are near the tax year end or maybe they are planning on releasing a new version?
Current top 1 year is 5.07%

Uh-oh! Now what happens? I left them instructions for my old virgin fixed  isa 5 to be transferred to the fixed isa 10 when it matures in 2 days time on the 29th of march. This is not looking good.

If the new account was opened and the transfer request accepted before VM withdrew the 5.25% product then there should be no problems with the transfer or the new ISA. 

OTOH there does seem to be precedent for Virgin Money making a complete Horlicks of just about any kind of ISA transfer (although my recent move to them completed without a hitch).

umm. that is not encouraging!!  
sadly all i have at the moment is their standard text message from 17th march saying: "Great news! We've got your maturity instructions, so nothing else for you to do.  Your account will switch to your chosen product within 5 business days of your maturity date - 29th March 2024 and you will be able to view this in the mobile app or internet banking."

I've the same issue. I provided instructions on maturity of my issue 5 ISA requesting it be transferred to the 5.25% fixed rate. Completed paperwork and received a text message. Totally forgot to do any checks until tonight and now noticed Virgin have transferred it into a flexi ISA at a lower interest rate..... any advice appreciated. 
 

gwapenut

The Daily Mail and moneyfacts are listing a Newcastle B.S. single access ISA at 5%. This interests me, because unlike all the others above it in the rate table (please correct me if wrong):
1. Electronic transfers
2. Flexible (just 1 flexible accss is all I need)
3. Easy Access
4. Not a brand I distrust (Zopa, Plum, Chip) without real contact numbers for resolving the ISA transfer issues which seem to affect me routinely 

However, the mail's link takes me through to a landing page without the ISA on it. Might be one to watch today if of interest:

https://www.newcastle.co.uk/savings/cash-isas

gwapenut

I rang the Newcastle. Apparently their single access 5% account will be launched in the new tax year. I accept that it's a lower rate than KR, but it is flexible if you just need the 1 access.

TheWoodler

Note that opening the Newcastle account is restricted to branch, whereas once opened it can also be managed online, so it’s currently not looking as if it’s nationally available from the details given so far. 

2010

Charter`s 1yr fixed ISA at 5.05% has gone.

refluxer

Yep - Kent Reliance, OakNorth, Aldermore, Secure Trust and Hodge have also recently suspended ISA applications until the new tax year.