Cash ISAs: The Best Currently Available List

ColdIron

john1950 said:

There would appear to be a limit on savings income above which a self assessment tax return is required.

£10,000

I cannot seem to find for certain whether cash isa savings interest counts towards the limit. Does anyone know please.

ISAs are tax free so no. They are effectively invisible to HMRC

• If you complete a tax return, you do not need to declare any ISA interest, income or capital gains on it.

https://www.gov.uk/individual-savings-accounts/how-isas-work

gt94sss2

bristolleedsfan said:

Wow for ISA rate competition 

Natwest/RBS 1 Year 5.70% --------------- 2 Year  5.90%

The 1 year 5.7% ISA that NatWest/RBS offered last year matured in early September.

Can anyone tell me how they were notified by NatWest/RBS that the ISA account was about to mature? 

Taking to a family member, they say they did not receive a reminder from NatWest that this was about to happen and when I looked at their app there is no information/letter about an upcoming maturity there that I can find

winkowinko

gt94sss2 said:

bristolleedsfan said:

Wow for ISA rate competition 

Natwest/RBS 1 Year 5.70% --------------- 2 Year  5.90%

The 1 year 5.7% ISA that NatWest/RBS offered last year matured in early September.

Can anyone tell me how they were notified by NatWest/RBS that the ISA account was about to mature? 

Taking to a family member, they say they did not receive a reminder from NatWest that this was about to happen and when I looked at their app there is no information/letter about an upcoming maturity there that I can find

I received an email from them about 2 or 3 weeks before it matured.

I found the mature date easier to find by using the website (browser). It was a bit of a hassle to find, but eventually found it under something like 'documents/messages'. Basically there's a document which was issued when you first started the ISA, so SEP 2023. It says the maturity date on there.

Crag30

I had emails from them regarding maturity and where to put it after. The first I think was a month before maturity and the second a fortnight before.

gt94sss2

Thanks both. 

Yes, I can see the initial letter from September 23 when the ISA was opened.

However, my relative appears not to have any correspondence from NatWest in the month before the account reached it's maturity date - hence asking about others experiences.

cricidmuslibale

Hello everyone! Just to let you all know that yesterday (8 October) Paragon released Issue 6 of their flexible Double Access Cash ISA, paying 4.87% variable annual interest, 4.76% variable monthly interest (4.87% AER). The minimum opening deposit and minimum balance for this Double Access ISA is £1000 and it accepts transfers from Cash and/or Stocks & Shares ISAs into it. As the name of the ISA implies, these interest rates apply to the 1st two withdrawals every 12 months from the day you open the ISA; if you make three or more withdrawals within each 12 month period, the interest rates for annual and monthly interest drop to 1.50% and 1.49% respectively from your third withdrawal onwards. Please see Double Access Cash ISA | Paragon Bank for further details.

2010

cricidmuslibale said:

Hello everyone! Just to let you all know that yesterday (8 October) Paragon released Issue 6 of their flexible Double Access Cash ISA, paying 4.87% variable annual interest, 4.76% variable monthly interest (4.87% AER). The minimum opening deposit and minimum balance for this Double Access ISA is £1000 and it accepts transfers from Cash and/or Stocks & Shares ISAs into it. As the name of the ISA implies, these interest rates apply to the 1st two withdrawals every 12 months from the day you open the ISA; if you make three or more withdrawals within each 12 month period, the interest rates for annual and monthly interest drop to 1.50% and 1.49% respectively from your third withdrawal onwards. Please see Double Access Cash ISA | Paragon Bank for further details.

Does anyone know that if you have the previous issue @ 4.70%, do they upgrade you to 6 or do you have to open the new issue and transfer internally?

refluxer

2010 said:

cricidmuslibale said:

Hello everyone! Just to let you all know that yesterday (8 October) Paragon released Issue 6 of their flexible Double Access Cash ISA, paying 4.87% variable annual interest, 4.76% variable monthly interest (4.87% AER). The minimum opening deposit and minimum balance for this Double Access ISA is £1000 and it accepts transfers from Cash and/or Stocks & Shares ISAs into it. As the name of the ISA implies, these interest rates apply to the 1st two withdrawals every 12 months from the day you open the ISA; if you make three or more withdrawals within each 12 month period, the interest rates for annual and monthly interest drop to 1.50% and 1.49% respectively from your third withdrawal onwards. Please see Double Access Cash ISA | Paragon Bank for further details.

Does anyone know that if you have the previous issue @ 4.70%, do they upgrade you to 6 or do you have to open the new issue and transfer internally?

I've had a number of Paragon double and triple access accounts (both ISA and non-ISA) in recent years and you have to open the new issue yourself. When interest rates were rising, it was common for Paragon to increase the rates of certain previous issues a week or two after a new issue was released at a higher rate but with rates generally falling as they are at the moment, this may not happen now.  

It's been a while since I did the internal ISA transfers, but I'm fairly sure that you're able to set up the transfer as part of the account application process, therefore avoiding the risk of withdrawing it from the ISA 'wrapper'. Obviously you'll need to proceed carefully and make sure you select the right option though, to avoid this.

2010

@refluxer, Thanks for that.
You are spot on having just opened the new account and tranferred issue 4 into it.

The advantage of opening the new one besides the increase in the rate is you get back your two withdrawals and also the interest from the old issue.
For two minutes work, well worth doing.
The new account should show later today or tomorrow.

Update new account up and running 16-13.

pokemaster

Just had this email from Trading212 perhaps they gonna start cracking down on it now?