Cash ISAs: The Best Currently Available List

molerat

The link in the OP for Birmingham Midshires is now out of date as the Direct ISA Issue 2 is now out with the same rates http://www.askbm.co.uk/savings/p/isa/product.asp?id=138

bristolleedsfan

New 2008/09 Money Only. :beer:

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rates-isa.aspx


Wonder if anyone will beat it in next few days. :think:

a4gom

Looking to get my money out of a smile isa to put it into a new isa for next year, the new one doesn't allow transfers in so I presume I need to transfer my money from smile, into my current account at barclays then into my new isa? Or shut down my smile isa.
Has anyone done this? is it easy? I don't intend to put more than £3600 into the new one inc that I am transfering out so that poses no concern but I do want to make sure I get the most of my interest from smile so what date should I transfer / close the smile account?

molerat

a4gom wrote: »

Looking to get my money out of a smile isa to put it into a new isa for next year, the new one doesn't allow transfers in so I presume I need to transfer my money from smile, into my current account at barclays then into my new isa? Or shut down my smile isa.
Has anyone done this? is it easy? I don't intend to put more than £3600 into the new one inc that I am transfering out so that poses no concern but I do want to make sure I get the most of my interest from smile so what date should I transfer / close the smile account?

If you close / transfer the money to your current a/c you will lose the tax free status and it will be considered as "new money" and will be part of your limit for the new tax year. You need to find an account which does offer transfers in for the smile money and only put new money into the new ISA.
http://www.moneyfacts.co.uk/savings/bestbuys/mini-cash-isas-accepting-transfers-in.aspx DO NOT CLOSE OR TRANSFER THE SMILE ISA TO A NON-ISA ACCOUNT

a4gom

I'm probably been really dim but if I transfer the money out on the 6th then pay it into my new ISA on the 6th surely I'm only going to loose a couple of days interest at the most? I use the ISA as a regular savings pot, £30 per month, the current one is only worth about £3100 at the moment and I will only be putting £360 in so will be within the limits. The wife doesn't currently have an ISA so if we find ourselves with more to invest (very unlikely at the moment) we would be able to set up another.
I have already set up next years ISA with Barclays so I am a bit stuck really. I did look at some of the others you linked to but was put of by the notice periods and number of withdrawals on some of them plus some needed £1000 to start them and the only £1000 I have would be the transfered money.
I'm sure I was probably making more of it and it would be overcomeable but the transfer seemed difficult, take Scarborough for example, I started filling the application in and they wanted all my details of the current ISA so they could arrange the transfer, I visited the smile website and looked at the info on transfering out and it said if I wanted to transfer out that I had to set up my new ISA first then give them the details and they would transfer it in and if I didn't do it that way I would loose my interest?

pinkpenelope

Hi,

I decided to but my savings into a mini cash ISA at the end of March. I looked into various ones and applied for an Alliance & Leicester mini ISA - they said it would be 48 hours before I heard a response, but I didn't hear back... so under pressure to get the money into the account before the tax year ends, I applied for an Egg mini Isa also. I got the Egg one accepted yesterday and then today I've been told that the application has gone through for the Alliance & Leicester one. I have no clue about this stuff, so just wanted ask anyone in the know - does it matter if I open 2 Isas in the one tax year - even though there is currently no money in either yet (but I will transfer money to one of them today)?

kingkano

As long as you only deposit to 1 this tax year there is no problem.

macgyver

You can deposit money only in one ISA in a year. If you manage to open two ISAs in a year, you cannot deposit into both.
But what you can do is deposit in one for 2007-08 and in the other for 2008-09

pinkpenelope

Great, thanks for the advice.

pksaraf

i called abbey today to transfer my funds from issue 1 to issue 2 - they registered the request and said it will be done in 30 days - no need to fill / sign a form. Is this correct? I read before that abbey sends out a transfer form which we then sign and send back before they can deal with the request. I did challenge this over the phone but was told not need for it.