Cash ISAs: The Best Currently Available List

csw5780

Bridlington1 said:

Bridlington1 said:

Principality will be launching an Online Bonus 5 Access Cash ISA at 5% (includes 1.45% bonus for a year) £1 min. ISA is flexible so could be one to open speculatively. Application link attached.

Now ``officially" live
https://www.principality.co.uk/savings-accounts/isas/Online-Bonus-5-Access-Cash-ISA

Also note Principality only allow one cash ISA to be held with them per tax year. 

“You can only pay your ISA Allowance into one Principality cash ISA in the current tax year.”

schiff

Bridlington1 said:

Principality will be launching an Online Bonus 5 Access Cash ISA at 5% (includes 1.45% bonus for a year) £1 min. ISA is flexible so could be one to open speculatively. Application link attached.

TY I have their 4.85% issue 5 version. I don't need flexibility so will look to switch.

What exactly is the problem with electronic transfers?

pecunianonolet

Wheres_My_Cashback said:

Anyone have any idea of transfer in to Tradex 212 timelines currently? Are they taking the full permitted period or quicker ?
Looking to transfer from Coventry BS

OH transferred from Coventry BS 5.05% to Trading and initiated the transfer before they paused it. First radio silence and only the standard messages in the trading app that things are in progress, after around 1.5 weeks an email that a wet signature is required so OH printed the form, signed it and sent a photograph back the same day. I guess it was Coventry requesting that info. Funds left Coventry on 13th June and were credited with Trading on Friday 14th June, that was exactly the 15th working day from the day the transfer request was submitted. Loss of one day interest of ca. £6. 

OH questioned this because Coventry sent funds by faster transfer but Trading is saying they are within their rights and that it can take longer to receive funds. Takes now around a month to make up that lost day to break even with the 0.15% difference in interest vs. keeping it at Coventry. A test withdrawal of £1 took 3 working days with Trading vs. next day with Coventry. We would probably not do it again.

Virgin Money transfer to Coventry and Moneybox (£5 and £500 to open and secure accounts) I did in March took 3 working days over the Easter bank holiday weekend. 

Wheres_My_Cashback

pecunianonolet said:

Wheres_My_Cashback said:

Anyone have any idea of transfer in to Tradex 212 timelines currently? Are they taking the full permitted period or quicker ?
Looking to transfer from Coventry BS

OH transferred from Coventry BS 5.05% to Trading and initiated the transfer before they paused it. First radio silence and only the standard messages in the trading app that things are in progress, after around 1.5 weeks an email that a wet signature is required so OH printed the form, signed it and sent a photograph back the same day. I guess it was Coventry requesting that info. Funds left Coventry on 13th June and were credited with Trading on Friday 14th June, that was exactly the 15th working day from the day the transfer request was submitted. Loss of one day interest of ca. £6. 

OH questioned this because Coventry sent funds by faster transfer but Trading is saying they are within their rights and that it can take longer to receive funds. Takes now around a month to make up that lost day to break even with the 0.15% difference in interest vs. keeping it at Coventry. A test withdrawal of £1 took 3 working days with Trading vs. next day with Coventry. We would probably not do it again.

Virgin Money transfer to Coventry and Moneybox (£5 and £500 to open and secure accounts) I did in March took 3 working days over the Easter bank holiday weekend. 

Thanks, that's very useful. Hopefully the timescales have improved now the rush has subsided. Its those little things such as deposit/withdrawal timescales that can make the difference. Interesting that CBS needed a wet signature too. Was the form a CBS or T212 one?

In recent years I've only transferred between CBS/YBS/VIR and Cynergy and the longest has been 4 working days. I've always found VIR particularly quick.

pecunianonolet

Wheres_My_Cashback said:

pecunianonolet said:

Wheres_My_Cashback said:

Anyone have any idea of transfer in to Tradex 212 timelines currently? Are they taking the full permitted period or quicker ?
Looking to transfer from Coventry BS

OH transferred from Coventry BS 5.05% to Trading and initiated the transfer before they paused it. First radio silence and only the standard messages in the trading app that things are in progress, after around 1.5 weeks an email that a wet signature is required so OH printed the form, signed it and sent a photograph back the same day. I guess it was Coventry requesting that info. Funds left Coventry on 13th June and were credited with Trading on Friday 14th June, that was exactly the 15th working day from the day the transfer request was submitted. Loss of one day interest of ca. £6. 

OH questioned this because Coventry sent funds by faster transfer but Trading is saying they are within their rights and that it can take longer to receive funds. Takes now around a month to make up that lost day to break even with the 0.15% difference in interest vs. keeping it at Coventry. A test withdrawal of £1 took 3 working days with Trading vs. next day with Coventry. We would probably not do it again.

Virgin Money transfer to Coventry and Moneybox (£5 and £500 to open and secure accounts) I did in March took 3 working days over the Easter bank holiday weekend. 

Thanks, that's very useful. Hopefully the timescales have improved now the rush has subsided. Its those little things such as deposit/withdrawal timescales that can make the difference. Interesting that CBS needed a wet signature too. Was the form a CBS or T212 one?

In recent years I've only transferred between CBS/YBS/VIR and Cynergy and the longest has been 4 working days. I've always found VIR particularly quick.

The form was provided by Trading212 and had their letterhead on it but they wrote in the email that the sending institution apparently requested it. I guess it was a security feature due to the amount to transfer.

refluxer

schiff said:

Bridlington1 said:

Principality will be launching an Online Bonus 5 Access Cash ISA at 5% (includes 1.45% bonus for a year) £1 min. ISA is flexible so could be one to open speculatively. Application link attached.

TY I have their 4.85% issue 5 version. I don't need flexibility so will look to switch.

What exactly is the problem with electronic transfers?

The Principality don't use the BACs ISA transfer service, so transfers to and from other ISA providers will require paper forms to be posted and funds are sent via cheque. 

I've had a number of cash ISAs with then in the past and, while transfers weren't as quick as those carried out electronically, they were all carried out well within the allowed timescales and interest was backdated, so you shouldn't lose out.

gwapenut

refluxer said:

schiff said:

Bridlington1 said:

Principality will be launching an Online Bonus 5 Access Cash ISA at 5% (includes 1.45% bonus for a year) £1 min. ISA is flexible so could be one to open speculatively. Application link attached.

TY I have their 4.85% issue 5 version. I don't need flexibility so will look to switch.

What exactly is the problem with electronic transfers?

The Principality don't use the BACs ISA transfer service, so transfers to and from other ISA providers will require paper forms to be posted and funds are sent via cheque. 

I've had a number of cash ISAs with then in the past and, while transfers weren't as quick as those carried out electronically, they were all carried out well within the allowed timescales and interest was backdated, so you shouldn't lose out.

The only way you lose out is if the cheque is lost in the post and reissued. In that circumstance, interest is backdated to the date on the NEW cheque. This and also the initial postal delay in issuing th first chqeue is fine unless your funds are languishing in a rip-off maturity account.

These days, it is not unknown for a cheque to be declared lost, reissued, and then the original pops out of the postal system a bit later.

Logen

Kent Reliance One Year Fixed Rate ISA, issue 99:  4.94%.
Launched 5th July.

mattojgb

Do non-fixed ISAs typically allow transfers in at any point after the ISA has been opened? I was going to open a Newcastle and Principality 5% ISA but was wondering if I can transfer from one to the other at a later date.

Aidanmc

mattojgb said:

Do non-fixed ISAs typically allow transfers in at any point after the ISA has been opened? I was going to open a Newcastle and Principality 5% ISA but was wondering if I can transfer from one to the other at a later date.

Re the Newcastle single access Isa and Principality Isa it seems transfers are permitted.

Newcastle state min opening balance is at least £1 though, and Principality states you must keep at least £1 in the account.