Cash ISAs: The Best Currently Available List
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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."
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
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Hi thanks for pointing me in the right direction.I'm looking at openingZopa Smart ISA - 5.08%Minimum deposit: £1.Operated via: Mobile app.Notes: This is a flexible cash ISA.On the website is it says:"Earn a bonus rate on Access ISA pots!We're offering new Smart ISA customers a 1-year fixed bonus rate of 0.5% AER*/gross** on on top of the underlying 4.58% AER (4.48% gross) variable Access ISA pot rate!This means you'll earn a total of 5.08% AER (4.96% gross) variable on Access ISA pots!The bonus will run for 1-year from the date you open a Smart ISA."
Does this mean it's still an easy acess ISA please?
Also just to confirm, a flexible ISA means you can take money in and out?
Also, very early this morning it said to get the bonus the account would be open by 6thMay but i think they removed that but now as can't see it anymore0 -
pookey said:Does this mean it's still an easy acess ISA please?Also just to confirm, a flexible ISA means you can take money in and out?
'Flexible' means that money can be withdrawn and replaced before the end of the tax year without it counting again towards your annual ISA allowance.pookey said:Also, very early this morning it said to get the bonus the account would be open by 6thMay but i think they removed that but now as can't see it anymore1 -
refluxer said:pookey said:Does this mean it's still an easy acess ISA please?Also just to confirm, a flexible ISA means you can take money in and out?
'Flexible' means that money can be withdrawn and replaced before the end of the tax year without it counting again towards your annual ISA allowance.pookey said:Also, very early this morning it said to get the bonus the account would be open by 6thMay but i think they removed that but now as can't see it anymore1 -
pookey said:refluxer said:pookey said:Does this mean it's still an easy acess ISA please?Also just to confirm, a flexible ISA means you can take money in and out?
'Flexible' means that money can be withdrawn and replaced before the end of the tax year without it counting again towards your annual ISA allowance.pookey said:Also, very early this morning it said to get the bonus the account would be open by 6thMay but i think they removed that but now as can't see it anymore1 -
pecunianonolet said: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.
Shawbrook send you an email saying there`s a a secure message in your inbox.
The message says that they have accepted your transfer out to whoever.
BUT instaed of just doing it they seem to wait about 5 working days and then send it by electronic transfer.
I can`t see why it`s not done as soon as they receive the request and accept it.
Also if you phone up they want you to go online instead because they are extremely busy.
If you go onlone and send a secure message, it takes about 5 days to receive a reply.0 -
pecunianonolet said: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.
https://www.legislation.gov.uk/uksi/2010/2957/regulation/5/made
It's not meant to be 15 days for them to faff around as they wish.
1. the transferee shall, within 5 business days beginning on the instruction day, send to the transferor ...
2. the transferor shall, within 5 business days beginning on the day that the transferor receives the transfer instructions and the consent notice...
3. the transferee shall ensure that the subscriptions....
The only part of the legislation which refers to Shawbrook as a transferor is the bit in bold (2) which gives them 5 days to respond to a transfer request. The other 10 days are an allowance for the bank requesting the transfer, and not intended for Shawbrook to grab for themselves and profit from.
I think they should be reported to the FCA.0 -
2010 said:pecunianonolet said: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.
Shawbrook send you an email saying there`s a a secure message in your inbox.
The message says that they have accepted your transfer out to whoever.
BUT instaed of just doing it they seem to wait about 5 working days and then send it by electronic transfer.
I can`t see why it`s not done as soon as they receive the request and accept it.
Also if you phone up they want you to go online instead because they are extremely busy.
If you go onlone and send a secure message, it takes about 5 days to receive a reply.
Happy that it worked out in the end and I am now earning a decent 5.25% with Virgin until end of March 20250 -
Transferring 08 sort code Virgin ISA to Zopa.
5 working days so far !1 -
flobbalobbalob said:Transferring 08 sort code Virgin ISA to Zopa.
5 working days so far !
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