Cash ISAs: The Best Currently Available List

2010

littlemissbossy said:

Regarding Virgin Money Fixed rate ISA 5.05%.

I have a VM fixed rate ISA that will mature 24.09.24, if I opened the 5.05% account early September, if still available, am I correct in thinking that would give me enough time to fund it when my existing ISA matures.

I see that the T&C's say you have 30 days to fund the account after the product is withdrawn.

So if I opened the account on 1st Sept and then it was withdrawn on 2nd Sept, I would still have until 30th Sept to fund it, so that gives me a few extra days to request the transfer.

That was long winded, I hope it made sense.

The current Virgin issue14 ISA paying 5.05% has a maturity date of 29/8/25.
The way ISA rates have been falling this last week, it`s hard to see how this issue will be available much longer.
If it is still available until the 29th of this month, you might be wise to open one to cover the 30 day period before your current one matures.
ie: 27/28th of this month.

2010

savit4l8er said:

Re Shawbrook, further credits after product withdrawn. I was told by an agent yesterday I cannot transfer in a maturing ISA from elsewhere to my fixed rate ISA opened last year but I can pay in this year's allowance and ongoing each year until it matures. Just what I was told, I'm not overly bothered as I have another option which is more suited to my plans just now so they kind made my decision easier. 

Thanks for that,very useful.
This is what I thought, as I posted earlier.
With their 1yr fix now paying 4.25% I couldn`t see them letting transfers in to an old issue paying 5% plus.

New money into an old issue until maturity is handy though.

slinger2

2010 said:

savit4l8er said:

Re Shawbrook, further credits after product withdrawn. I was told by an agent yesterday I cannot transfer in a maturing ISA from elsewhere to my fixed rate ISA opened last year but I can pay in this year's allowance and ongoing each year until it matures. Just what I was told, I'm not overly bothered as I have another option which is more suited to my plans just now so they kind made my decision easier. 

Thanks for that,very useful.
This is what I thought, as I posted earlier.
With their 1yr fix now paying 4.25% I couldn`t see them letting transfers in to an old issue paying 5% plus.

New money into an old issue until maturity is handy though.

Looking at it mathematically it would perhaps be tempting to open a number of ISAs with them, of different lengths, each with the minimum funding allowed. However their rules don't make that easy since you're only allowed to fund one of their ISAs each tax year (not sure of the exact rule). Perhaps one of their longer duration ISAs could be tempting, just in case savings rates fall off a cliff in the coming years.

qbadger

drphila said:

pecunianonolet said:

Correct me if I am wrong but for Shawbrook the question is:

Funding: Pay in current tax year allowance throughout the term of your fix ---> Usually possible, unless T&C's have changed recently preventing this now.

Transfer in: Can you make further/additional transfers in after the issue has been withdrawn from sale? E.g. other maturing ISA's with other providers. 

To me the 'after the issue has been withdrawn' aspect is irrelevant. Their terms have always been that new money can be added at any time. Transfers-in are different from new money and are governed by the 'reserve the right to refuse' clause 

I think we now need to establish whether they are now starting to invoke this clause. And to do this I think we need further clarification from @qbadger, please, to establish whether this was just a badly-informed agent  or was a formal transfer request submitted and rejected?

My transfer in request was rejected. I provided the reason given by them in the earlier post.

Marmaduke123

I've just opened the Virgin Money fixed rate ISA 5.05%. It will be funded by my current Virgin fixed rate ISA which matures on 24th August. There is an option on the application form to transfer an existing ISA. Select Virgin and fill in the details required. You can then opt for the transfer to be made on the maturity date of the ISA you want to transfer in - my recollection is that this has to be within six weeks.

The 5.05% ISA didn't show on my maturity options, and I opened a Virgin current account just to qualify for the ISA.  

badger09

Marmaduke123 said:

I've just opened the Virgin Money fixed rate ISA 5.05%. It will be funded by my current Virgin fixed rate ISA which matures on 24th August. There is an option on the application form to transfer an existing ISA. Select Virgin and fill in the details required. You can then opt for the transfer to be made on the maturity date of the ISA you want to transfer in - my recollection is that this has to be within six weeks.

The 5.05% ISA didn't show on my maturity options, and I opened a Virgin current account just to qualify for the ISA.  

BIB
That was my recollection when I opened the previous VM 5.25% FRISA  
Iss 10 & 11. Maturity date of ISA to be xferred had to be within 42 days so 
@littlemissbossy should be fine to open one now 

littlemissbossy

littlemissbossy said:

Regarding Virgin Money Fixed rate ISA 5.05%.

I have a VM fixed rate ISA that will mature 24.09.24, if I opened the 5.05% account early September, if still available, am I correct in thinking that would give me enough time to fund it when my existing ISA matures.

I see that the T&C's say you have 30 days to fund the account after the product is withdrawn.

So if I opened the account on 1st Sept and then it was withdrawn on 2nd Sept, I would still have until 30th Sept to fund it, so that gives me a few extra days to request the transfer.

That was long winded, I hope it made sense.

Thanks everyone for your help with this.

I thought I'd come back and report in case anyone else is in the same position.

I've opened the account just now, during the application I was asked if I wanted to transfer an ISA, there was also the option to wait until the maturity date as long as it was within six weeks.

Thanks again.

pookey

Aidanmc said:

pookey said:

flaneurs_lobster said:

pookey said:

Johnny-Cage said:

pookey said:

Johnny-Cage said:

pecunianonolet said:

Johnny-Cage said:

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

I have some Euros at Trading 212 and was under the impression that when the ECB started to lower rates they would follow suit. However, they have kept the rate stable since then so there might be good change that the ISA rate of 5.2 remains a little longer competitive.

With daily payments of interest every day counts. Transfer in transactions did take a while in June so unless you pay in fresh money it could take 3 weeks before funds arrive, it may go much quicker now if they have less demand and can process things faster.

Thx for the reply it is fresh cash got 17k dropping in to my current account from my 90 day Oxbury on the 19th. ATM I have 3k sitting in a Chip ISA for this year 

Just in case you didn't know, if you put it in Chip and want to transfer out you have to do the full amount. 

I opened this year allowance with Chip and kept topping it up to avoid going over my PSA. I also took to long to set up a LISA so I can't transfer the money from Chip to my LISA, it's fine but a bit annoying. I have some money maturing next month so I'm just waiting for that to top up my LISA. 

Thx just opened a T212 and requested to transfer 3k plus the interest to T212 from Chip so will see how long it takes, then will transfer the deposit from Oxbury when it lands on the 19th 

Can you please update how long it takes? I might do the same too. Just trying to figure out what to put where 😅

Obviously not the same transfer but I've just completed Chip Cash ISA --> VM 5.05% ISA today 16/8. Request was a paper form completed in VM branch last Friday 9/8. Pretty slick from both parties I thought.

Thank you that's great. I already have the VM 5.05 isa, i wish we could open more then one 😅

Can you not open more than 1?

I have a couple of the earlier 5.25% version

When i opened it, i did an account switch at the same time and i called up to double check some details. The lady I spoke to said i could only have one but I'll double check as I've noticed that sometimes they give incorrect information 😅

AlwaysLearnin

pecunianonolet said:

Correct me if I am wrong but for Shawbrook the question is:

Funding: Pay in current tax year allowance throughout the term of your fix ---> Usually possible, unless T&C's have changed recently preventing this now.

Transfer in: Can you make further/additional transfers in after the issue has been withdrawn from sale? E.g. other maturing ISA's with other providers. 

Thought I'd give it a go as an experiment, but I've also just had it confirmed by Shawbrook that I can't transfer in to an existing 2 year fix opened in April.

badger09

pookey said:

Aidanmc said:

pookey said:

flaneurs_lobster said:

pookey said:

Johnny-Cage said:

pookey said:

Johnny-Cage said:

pecunianonolet said:

Johnny-Cage said:

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

I have some Euros at Trading 212 and was under the impression that when the ECB started to lower rates they would follow suit. However, they have kept the rate stable since then so there might be good change that the ISA rate of 5.2 remains a little longer competitive.

With daily payments of interest every day counts. Transfer in transactions did take a while in June so unless you pay in fresh money it could take 3 weeks before funds arrive, it may go much quicker now if they have less demand and can process things faster.

Thx for the reply it is fresh cash got 17k dropping in to my current account from my 90 day Oxbury on the 19th. ATM I have 3k sitting in a Chip ISA for this year 

Just in case you didn't know, if you put it in Chip and want to transfer out you have to do the full amount. 

I opened this year allowance with Chip and kept topping it up to avoid going over my PSA. I also took to long to set up a LISA so I can't transfer the money from Chip to my LISA, it's fine but a bit annoying. I have some money maturing next month so I'm just waiting for that to top up my LISA. 

Thx just opened a T212 and requested to transfer 3k plus the interest to T212 from Chip so will see how long it takes, then will transfer the deposit from Oxbury when it lands on the 19th 

Can you please update how long it takes? I might do the same too. Just trying to figure out what to put where 😅

Obviously not the same transfer but I've just completed Chip Cash ISA --> VM 5.05% ISA today 16/8. Request was a paper form completed in VM branch last Friday 9/8. Pretty slick from both parties I thought.

Thank you that's great. I already have the VM 5.05 isa, i wish we could open more then one 😅

Can you not open more than 1?

I have a couple of the earlier 5.25% version

When i opened it, i did an account switch at the same time and i called up to double check some details. The lady I spoke to said i could only have one but I'll double check as I've noticed that sometimes they give incorrect information 😅

I’ve just checked T&Cs (on my phone so DYOR) but can’t see any such restriction. VM allow you to subscribe ie pay new money into, only one cash ISA per tax year, but that shouldn’t stop you opening more than one for the purpose of transferring other ISAs in.