Cash ISAs: The Best Currently Available List

jase.2

Angelica123 said:

jase.2 said:

With interest rates being talked down I wondered what sort of length of time are people fixing isa’s at ?

I’ve got a Coventry 5% + instant access but not sure what sort of length of fix to move it to 

You could hedge your bets and open 1 year, 2 year and 5 year fixes given the new ISA rules. You could also consider fixes which allow you to contribute to that ISA throughout its term such as Shawbrook. 

New rules being you can pay in to more than one cash isa up to the same £20k yeah?

I thought shawbrook only allowed that if the product was still available?

although I’d be signing up for less interest at the moment by fixing it I doubt the less will last long esp on one and two year fix as that Coventry 5% will be under 4.5% by the one of the year I’d expect 

surreysaver

jase.2 said:

Angelica123 said:

jase.2 said:

With interest rates being talked down I wondered what sort of length of time are people fixing isa’s at ?

I’ve got a Coventry 5% + instant access but not sure what sort of length of fix to move it to 

You could hedge your bets and open 1 year, 2 year and 5 year fixes given the new ISA rules. You could also consider fixes which allow you to contribute to that ISA throughout its term such as Shawbrook. 

New rules being you can pay in to more than one cash isa up to the same £20k yeah?

I thought shawbrook only allowed that if the product was still available?

although I’d be signing up for less interest at the moment by fixing it I doubt the less will last long esp on one and two year fix as that Coventry 5% will be under 4.5% by the one of the year I’d expect 

Doesn't have to be with the same provider. All providers allow it, unless their T&Cs specifically prohibit it

doodlector

10_66 said:

doodlector said:

Trading 212 Cash ISA is now open.
5.2%
Variable
Flexible
Interest paid daily

https://www.trading212.com/isa?cash-isa=

The other issue is that I'm trying to arrange a transfer in from YBS, and they'll only permit sort code and account number, and the last time I used those (to somewhere else), the transfer in failed until I used the roll number instead.  Not very promising start, as I can't get any sense out of CS.

For info.  I just completed a cash ISA transfer from Skipton to Trading 212.  Skipton has the same issue of a common account number/sort code then needing the roll number.  As you say, Trading 212 transfer form is not setup to handle this.

I just entered the roll number as the account number and then used the generic sort code.  Technically wrong but it was enough info for them to complete the transfer.  Probably more due to Skipton being sensible with the received info than anything Trading 212 did though!   

Oh, and the transfer completed in 48hrs.

10_66

doodlector said:

10_66 said:

doodlector said:

Trading 212 Cash ISA is now open.
5.2%
Variable
Flexible
Interest paid daily

https://www.trading212.com/isa?cash-isa=

The other issue is that I'm trying to arrange a transfer in from YBS, and they'll only permit sort code and account number, and the last time I used those (to somewhere else), the transfer in failed until I used the roll number instead.  Not very promising start, as I can't get any sense out of CS.

For info.  I just completed a cash ISA transfer from Skipton to Trading 212.  Skipton has the same issue of a common account number/sort code then needing the roll number.  As you say, Trading 212 transfer form is not setup to handle this.

I just entered the roll number as the account number and then used the generic sort code.  Technically wrong but it was enough info for them to complete the transfer.  Probably more due to Skipton being sensible with the received info than anything Trading 212 did though!   

Oh, and the transfer completed in 48hrs.

Thanks doodlector, as I've still not had any feedback from Trading 212, I think I'll have a go doing that, hopefully YBS will be as sensible as Skipton!

PParka

10_66 said:

doodlector said:

For info.  I just completed a cash ISA transfer from Skipton to Trading 212.  Skipton has the same issue of a common account number/sort code then needing the roll number.  As you say, Trading 212 transfer form is not setup to handle this.

I just entered the roll number as the account number and then used the generic sort code.  Technically wrong but it was enough info for them to complete the transfer.  Probably more due to Skipton being sensible with the received info than anything Trading 212 did though!   

Oh, and the transfer completed in 48hrs.

Thanks doodlector, as I've still not had any feedback from Trading 212, I think I'll have a go doing that, hopefully YBS will be as sensible as Skipton!

I had the same issue with Paragon as they don't use sort codes.
Trading 212 said to use 00-00-00 

CuparLad

For ISA Transfers out of Paragon, you can quote their Bank Account details:

And then your Reference Number. This worked first time for me for a recent BACS ISA transfer out of Paragon to Close Brothers.

Screenshot from https://www.paragonbank.co.uk/personal/personal-faqs/savings-questions/moving-your-money

slinger2

CuparLad said:

For ISA Transfers out of Paragon, you can quote their Bank Account details:

And then your Reference Number. This worked first time for me for a recent BACS ISA transfer out of Paragon to Close Brothers.

Screenshot from https://www.paragonbank.co.uk/personal/personal-faqs/savings-questions/moving-your-money

"And then your Reference Number"? The issue is that there's nowhere to put your reference number.

refluxer

slinger2 said:

CuparLad said:

For ISA Transfers out of Paragon, you can quote their Bank Account details:

And then your Reference Number. This worked first time for me for a recent BACS ISA transfer out of Paragon to Close Brothers.

Screenshot from https://www.paragonbank.co.uk/personal/personal-faqs/savings-questions/moving-your-money

"And then your Reference Number"? The issue is that there's nowhere to put your reference number.

When transferring an ISA from banks who use non-standard account/reference numbers (ie. not the usual 8 digits), I always put that reference info in the 'roll number' field of the transfer form. This hasn't failed me yet and that includes transferring out from a Paragon ISA.

Obviously if a transfer form doesn't include a 'roll number' field then that would be an issue but, thankfully, the majority do.

friolento

refluxer said:

slinger2 said:

CuparLad said:

For ISA Transfers out of Paragon, you can quote their Bank Account details:

And then your Reference Number. This worked first time for me for a recent BACS ISA transfer out of Paragon to Close Brothers.

Screenshot from https://www.paragonbank.co.uk/personal/personal-faqs/savings-questions/moving-your-money

"And then your Reference Number"? The issue is that there's nowhere to put your reference number.

When transferring an ISA from banks who use non-standard account/reference numbers (ie. not the usual 8 digits), I always put that reference info in the 'roll number' field of the transfer form. This hasn't failed me yet and that includes transferring out from a Paragon ISA.

Obviously if a transfer form doesn't include a 'roll number' field then that would be an issue but, thankfully, the majority do.

There isn’t a Roll Number field on the T212 request form. They do allow a longer than 8 digit number in the account number field, however, and that works fine. As others have said, use a random sort code if your ISA doesn’t have a sort code. 

charlie12525

friolento said:

slinger2 said:

pokemaster said:

Don’t they already have an ISA at 5.2% daily?

There will be differences between the S&S ISA and new Cash ISA. The Cash ISA has "£85,000 FSCS protection" according to the email. Also: "We will hold your Cash ISA cash in segregated Regular Bank Deposits and Term Deposits with banks, as detailed in our Invest Terms. For the avoidance of doubt, we will not use QMMFs to hold money that you have contributed to your Cash ISA."

Although the interest rate for the Cash ISA is initially the same as that offered for pounds in the S&S ISA (that's the current plan anyway) there's no reason why the two should remain aligned. You might expect the Cash ISA to pay a somewhat lower rate.

Have they said anywhere what those banks are? It's important to know, in case one would bust the £85k limit at a given bank

You're right, it is important to know. I could not find a list of the banks involved so I did a chat with T212 and they said that there was no exact list but "The funds are held in multiple major EU/UK banks (including JP Morgan and Barclays) and we regularly review their financial stability."
Vague answer and not really good enough.