Cash ISAs: The Best Currently Available List

changearound1

ortolickus said:

I set up a 1 year Shawbrook ISA (4.76%) last month to transfer in my balance from my 1 year Santander ISA (4.15%) maturing on 1.5.24.
Today i got a message from Shawbrook telling me that their request had been accepted by Santander and that the transfer should take place within the next 15 working days! My thoughts are: why on earth should it take this long, what rate of interest am I to be paid during this period and by whom? Is this normal?
It seems that the money is still in my Santander account but the rate has changed to1.2%.  It is also shown as 1.2% in their list of no longer available accounts, which is rather worrying as I'm not sure whether I have any confirmation from Santander of the original rate of 4.15%.
Can anyone shed any light on this for me please? Thanks.

15 days is the upper limit for how long an ISA transfer should take and is a throwback to the days when these things were done by post. Nowadays most providers, including Santander and Shawbrook, can do a transfer electronically so it shouldn't take anything like 15 days. A bit of admin is involved for both sender and receiver  so the transfer won't be instant but it'll probably be done by the end of the week.

I imagine the 1.2% is the interest rate now that your Santander ISA has matured.

pookey

Hi 
Is there another thread that discusses ISA that allow transfer in please? And possibly flexible too depending on the rate 😊

2010

pookey said:

Hi 
Is there another thread that discusses ISA that allow transfer in please? And possibly flexible too depending on the rate 😊

Each ISA has this info in their T&C. so no thread that I know of.

TheBanker

pookey said:

Hi 
Is there another thread that discusses ISA that allow transfer in please? And possibly flexible too depending on the rate 😊

The first few posts of this threads list the best paying ISAs including whether they allow transfers and/or are flexible. 

10_66

changearound1 said:

15 days is the upper limit for how long an ISA transfer should take and is a throwback to the days when these things were done by post. Nowadays most providers, including Santander and Shawbrook, can do a transfer electronically so it shouldn't take anything like 15 days. A bit of admin is involved for both sender and receiver  so the transfer won't be instant but it'll probably be done by the end of the week.

I imagine the 1.2% is the interest rate now that your Santander ISA has matured.

OH requested transfer in to Zopa a week ago, their estimated transfer in date is the 20th May, despite the fact that they only deal with transfers in from others that operate electronic transfers.  Zopa haven't even requested the transfer from the existing provider yet and are being a real pain in the proverbial.  Customer Service virtually non existent and when it is, it is appalling.

changearound1

10_66 said:

changearound1 said:

15 days is the upper limit for how long an ISA transfer should take and is a throwback to the days when these things were done by post. Nowadays most providers, including Santander and Shawbrook, can do a transfer electronically so it shouldn't take anything like 15 days. A bit of admin is involved for both sender and receiver  so the transfer won't be instant but it'll probably be done by the end of the week.

I imagine the 1.2% is the interest rate now that your Santander ISA has matured.

OH requested transfer in to Zopa a week ago, their estimated transfer in date is the 20th May, despite the fact that they only deal with transfers in from others that operate electronic transfers.  Zopa haven't even requested the transfer from the existing provider yet and are being a real pain in the proverbial.  Customer Service virtually non existent and when it is, it is appalling.

Is it a fixed rate ISA that hasn't matured? If it's easy access then that timescale is ridiculous.

10_66

changearound1 said:

10_66 said:

changearound1 said:

15 days is the upper limit for how long an ISA transfer should take and is a throwback to the days when these things were done by post. Nowadays most providers, including Santander and Shawbrook, can do a transfer electronically so it shouldn't take anything like 15 days. A bit of admin is involved for both sender and receiver  so the transfer won't be instant but it'll probably be done by the end of the week.

I imagine the 1.2% is the interest rate now that your Santander ISA has matured.

OH requested transfer in to Zopa a week ago, their estimated transfer in date is the 20th May, despite the fact that they only deal with transfers in from others that operate electronic transfers.  Zopa haven't even requested the transfer from the existing provider yet and are being a real pain in the proverbial.  Customer Service virtually non existent and when it is, it is appalling.

Is it a fixed rate ISA that hasn't matured? If it's easy access then that timescale is ridiculous.

Not fixed rate, it's their Smart(?) Saver ISA.  It is ridiculous, but Zopa are very happy with it.

Beddie

pookey said:

Hi 
Is there another thread that discusses ISA that allow transfer in please? And possibly flexible too depending on the rate 😊

Go to moneyfacts and use the filtering to find what you need:

https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/

jak22

New issues of Shawbrook fixes - some now lead the first page list by 0.01% but the 5YR is now 4.07%,

With the previous issue only open a short time this will be a test of the statement in the Key Product Information "Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term"  compared with the confirmation email "Deposits can be made into your account until the product is withdrawn. You can check whether the product has been withdrawn by looking at the “Withdrawn Products” section of our website"

An article about transfer time on maturity https://www.thisismoney.co.uk/money/saving/article-13363027/Shawbrook-didnt-transfer-cash-Isa-paid-just-0-1-taken-advantage-me.html

soulsaver

jak22 said:

New issues of Shawbrook fixes - some now lead the first page list by 0.01% but the 5YR is now 4.07%,

With the previous issue only open a short time this will be a test of the statement in the Key Product Information "Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term"  compared with the confirmation email "Deposits can be made into your account until the product is withdrawn. You can check whether the product has been withdrawn by looking at the “Withdrawn Products” section of our website"

An article about transfer time on maturity https://www.thisismoney.co.uk/money/saving/article-13363027/Shawbrook-didnt-transfer-cash-Isa-paid-just-0-1-taken-advantage-me.html

It won't be the first test - I added £20k to an 'off sale' Shawb 5.78% fixed ISA last tax year that started life 6 months earlier with a transfer-in. The downside is there was only just over 6 months to go.