Cash ISAs: The Best Currently Available List

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 If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term"  compared with the confirmation email "Deposits can be made into your account until the product is withdrawn. You can check whether the product has been withdrawn by looking at the “Withdrawn Products” section of our website"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 If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term"  compared with the confirmation email "Deposits can be made into your account until the product is withdrawn. You can check whether the product has been withdrawn by looking at the “Withdrawn Products” section of our website"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.

2010

Paragon have got their double access cash ISA @ 4.95% open for anyone to apply again.

nomorekids

for the ability to fund later on in the year and not now due to lack of funds, can you deposit £1 in the shawbrook fixed rate 2 year ISA and hold the 4.61% rate? appreciate won't get the 4.61% until deposit £1000, thats not my query.

also on same idea can Mr nomorekids fund with small nominal amount now with virgin 1 year issue 12 fix at 5.05%? and hold the rate for later on in the year?

asking because there is only a few days left to pile in what I can to the virgin issue 11 and will have further funds later in the year but not now for the rest of our ISA allowances.

refluxer

nomorekids said:

for the ability to fund later on in the year and not now due to lack of funds, can you deposit £1 in the shawbrook fixed rate 2 year ISA and hold the 4.61% rate? appreciate won't get the 4.61% until deposit £1000, thats not my query.

also on same idea can Mr nomorekids fund with small nominal amount now with virgin 1 year issue 12 fix at 5.05%? and hold the rate for later on in the year?

asking because there is only a few days left to pile in what I can to the virgin issue 11 and will have further funds later in the year but not now for the rest of our ISA allowances.

Shawbrook are one of only a small handful of providers who allow you to continue to contribute throughout the duration of the fixed rate period. Virgin aren't one of them AFAIK, in which case you won't be able to do that with Virgin as you'll have a limited funding window for deposits.

With Shawbrook, you'll presumably need to pay in the minimum required to keep the account open so look for mention of this in the account T&C's. 

You mentioned also paying into a Virgin issue 11 ISA ? If you check the other threads on this subject, I believe Shawbrook are stating that you can't pay current year subscriptions into an ISA with a different provider if you open an ISA with them for the same reason (despite the ISA rule changes). How they can insist on this or police it is anyone's guess, however.

soulsaver

nomorekids said:

for the ability to fund later on in the year and not now due to lack of funds, can you deposit £1 in the shawbrook fixed rate 2 year ISA and hold the 4.61% rate? appreciate won't get the 4.61% until deposit £1000, thats not my query.

also on same idea can Mr nomorekids fund with small nominal amount now with virgin 1 year issue 12 fix at 5.05%? and hold the rate for later on in the year?

asking because there is only a few days left to pile in what I can to the virgin issue 11 and will have further funds later in the year but not now for the rest of our ISA allowances.

"If the money in your account falls below the minimum amount, we have the right to close the account. We will give you at least 14 days’ notice before doing this. You can generally pay in more money to bring the balance up to the minimum amount during that time, but you may not be able to do this if the relevant product has been withdrawn under condition 2.6."

Page 6, Min & Max balances: personal-savings-account-terms-and-conditions-022024.pdf (shawbrook.co.uk)

jak22

There's nothing I've seen to support "Shawbrook are stating that you can't pay current year subscriptions into an ISA with a different provider if you open an ISA with them",

their declaration rightly says "I have not subscribed, and will not subscribe, more than the overall subscription limit of £20,000 in total to any ISAs in the same tax year 2024/2025"

and they say "You can have more than one cash ISA in a single tax year, but only one with Shawbrook."

so unlike their fixed rate accounts you can't open another issue that comes along with a better rate, but there is this option "If you change your mind and wish to cancel your application to open an account, you may do so at any time within the first fourteen calendar days from the opening date of your account"

pecunianonolet

Also, Shawbrook seems to be taking extra time for transfers out trying to hold on to your cash for as long as possible even if they are signed up to the electronic transfer scheme, which really isn't an excuse for taking ages.

The 15 day rule should be reformed to 2 days for electronic transfer and the 15 days can stay for non electronic transfers.

refluxer

jak22 said:

There's nothing I've seen to support "Shawbrook are stating that you can't pay current year subscriptions into an ISA with a different provider if you open an ISA with them",

their declaration rightly says "I have not subscribed, and will not subscribe, more than the overall subscription limit of £20,000 in total to any ISAs in the same tax year 2024/2025"

and they say "You can have more than one cash ISA in a single tax year, but only one with Shawbrook."

Back at the very start of the new tax year, they originally stated (both on their website and verbally via their advisors) that you couldn't open a cash ISA with them for new subscriptions if you had opened one with another provider (see the discussion on this thread from page 3&4 onwards, as well as other threads) and other posters had been told this was despite the rule changes (so not just an overlooked, continuation of the old rules). The current ISA declaration is dated 12th April, so it looks like they changed their policy after the posts I linked to started. 

Anyway - that's in the past now and the policy change is good news, as it did cause some confusion when people were looking to use their new allowance ASAP after 6th April and didn't want to be restricted to the one provider.

Shawbrook have still got evidence of the initial decision at the top of all their fixed rate cash ISA product pages though, which they might want to remove....

Consider something else if

• you might need to make withdrawals
• you want to save with someone else