Cash ISAs: The Best Currently Available List
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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.
Is it a fixed rate ISA that hasn't matured? If it's easy access then that timescale is ridiculous.0 -
pookey said:Hi
Is there another thread that discusses ISA that allow transfer in please? And possibly flexible too depending on the rate 😊
https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/
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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 If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term" compared with the confirmation email "Deposits can be made into your account until the product is withdrawn. You can check whether the product has been withdrawn by looking at the “Withdrawn Products” section of our website"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
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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 If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term" compared with the confirmation email "Deposits can be made into your account until the product is withdrawn. You can check whether the product has been withdrawn by looking at the “Withdrawn Products” section of our website"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
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Paragon have got their double access cash ISA @ 4.95% open for anyone to apply again.4
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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 you want to be rich, never, ever have kids0 -
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.
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.1 -
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.
Page 6, Min & Max balances: personal-savings-account-terms-and-conditions-022024.pdf (shawbrook.co.uk)
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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"1 -
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.2
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