Cash ISAs: The Best Currently Available List

masonic

pecunianonolet said:

qbadger said:

https://intercom.help/get-chip/en/articles/8856781-the-chip-cash-isa-faqs#h_becdada0f9

Please note that when transferring your cash ISA out of Chip, your Chip Cash ISA will automatically be closed once the transfer is complete and you won't be able to open another Chip Cash ISA in the future once it's closed. 

They don't specify if this is indefinite that you can't open a new ISA or just applies for the current tax year. The latter I could understand, the former would be rather ridiculous. 

IIRC, it doesn't just apply to their ISA. They are not alone in not letting previous customers back.

pecunianonolet

masonic said:

pecunianonolet said:

qbadger said:

https://intercom.help/get-chip/en/articles/8856781-the-chip-cash-isa-faqs#h_becdada0f9

Please note that when transferring your cash ISA out of Chip, your Chip Cash ISA will automatically be closed once the transfer is complete and you won't be able to open another Chip Cash ISA in the future once it's closed. 

They don't specify if this is indefinite that you can't open a new ISA or just applies for the current tax year. The latter I could understand, the former would be rather ridiculous. 

IIRC, it doesn't just apply to their ISA. They are not alone in not letting previous customers back.

So they don't allow part transfers, won't let you back and the rule that you could withdraw from a flexible ISA and pay into a different flexible ISA within the same tax year is also no longer with having to repay the same account it originally came from now. So, the cash is basically stuck if you don't want to give up the ISA and Chip convenience. 

Would transfer out, closing the entire Chip account and reopening work is the question....

EDIT: Just found this: https://forums.moneysavingexpert.com/discussion/6546387/chip-cash-isa-ban-after-transferring-out

pecunianonolet

New ISA by Principality BS

csw5780

pecunianonolet said:

New ISA by Principality BS

“

• You cannot pay in more than the ISA Allowance each tax year. The ISA Allowance for the current tax year (2024/2025) is £20,000. You can only pay your ISA Allowance into one Principality cash ISA in the current tax year.”

where_are_we

I have a flexible Principality Online bonus ISA4 @4.75% opened in late 23-24 tax year. I have made quite a few withdrawals from it in this tax year and now have a balance only a few hundred. I intend to replace the money taken out before the end of 24-25 to preserve my ISA protection. I was thinking about transferring this OBISA4 into a new OB5AISA issue2 @4.85% with no new 24-25 ISA money involved - this would mean a small gain in interest and also an extension of the bonus interest period to 12 months from now. However in T&C`s it states "If transferring an existing Principality cash ISA then this must be transferred in full"

Does this mean to preserve my previous years ISA protection I would have to top up my present OSISA4 with the full replacement allowance in one go, before initiating a transfer or does it mean just transfer the present full balance of a few hundred pounds? I would rather replace this allowance gradually over the next 5 months into the new OB5ISA.

slinger2

where_are_we said:

I have a flexible Principality Online bonus ISA4 @4.75% opened in late 23-24 tax year. I have made quite a few withdrawals from it in this tax year and now have a balance only a few hundred. I intend to replace the money taken out before the end of 24-25 to preserve my ISA protection. I was thinking about transferring this OBISA4 into a new OB5AISA issue2 @4.85% with no new 24-25 ISA money involved - this would mean a small gain in interest and also an extension of the bonus interest period to 12 months from now. However in T&C`s it states "If transferring an existing Principality cash ISA then this must be transferred in full"

Does this mean to preserve my previous years ISA protection I would have to top up my present OSISA4 with the full replacement allowance in one go, before initiating a transfer or does it mean just transfer the present full balance of a few hundred pounds? I would rather replace this allowance gradually over the next 5 months into the new OB5ISA.

The regulation now says "Any replacement subscription may be made only to the account from which the withdrawal of a cash amount it is replacing was made." so the implication is that if you do a full transfer you won't be able to "replace" the money you've withdrawn, assuming that the old (OB4) account would be closed.

masonic

If you have the funds available, they need only be added back for the time it takes to complete the transfer, and then can be flexibly withdrawn again.

qbadger

AFAIK this has always been the case with previous years subscriptions for flexible ISAs.

GalacticaActual

cricidmuslibale said:

Hello folks! Just to let you all know that Skipton Building Society have very recently (probably today) released a flexible, easy access tracker Cash ISA (Issue 6) offering Base Rate - 0.35% for 12 months, currently paying 4.65% annual interest, 4.55% monthly interest (4.65% AER). Please see Cash ISA Base Rate Tracker - Skipton Building Society for further details.

Thanks for the information on this. I took advantage and opened the tracker Cash ISA last week.

I have just checked the Skipton Building Society website and it's no longer available (it was available on Monday this week, 14th October 2024 - so it either went NLA yesterday or today).

Skipton just list the Cash ISA Saver (Issue 22) as their only easy access Cash ISA now @ 3.55%.

Thanks again.

MiserlyMartin

2010 said:

MiserlyMartin said:

Yellowman said:

jpsman said:

Skipton Cash ISA Tracker issue 5 4.7% https://www.skipton.co.uk/savings/isas/cash-isa-tracker
@Kazza242

Tracks 0.55% points below the Base Rate (currently 5.25%) for a period of two years.

Flexible and no restrictions on number of withdrawals.

It's good at the moment, however before everyone gets too excited about this account, remember that for a long period in the 90s/2000s the normality was that savings accounts paid ABOVE the Base rate, so having a tracker at 0.55% below it is not really that good should we go back to a high swap rate situation etc

I don't think you'll ever see those days again. Banks etc. prefer to pay as little as possible and charge as much as they can.
From what I can see, Skiptons account is a win win.
The other thing is, if those heady days of above base rates ever came back, you can just transfer the Skiptons into it.

We might be. Despite the BoE rate cut, we have had 10 year swap rates rising over the last 6 weeks ( it pulled back today after the inflation data though)