Cash ISAs: The Best Currently Available List

MeteredOut

slinger2 said:

Middle_Sister said:

slinger2 said:

The "2.38% bonus rate for 3 months" will give you 2.38%/4=0.6%. Adding that to your 3.54% will give you 4.14% over the year. So leaving it with Plum for the whole year is probably not the best idea, unless they come up with another bonus. And it's a variable rate product so it might well be less than advertised.

Of course you could transfer it out of Plum after 3 months and hope to get a better rate or another bonus.

Thanks for that.  I didn't realise I could transfer out after the 3/4 months. I thought I had to keep it for the year. I think that's what I'll do. 

There's a number of other threads about this account which you should read. My reading is that the bonus will be paid after 3 months. You'll lose some interest when you move money out. The whole thing's a can of worms. Personally I wouldn't touch it with a bargepole.

I'm not sure you'll lose interest. I've just done a transfer from Plum and the email confirmation states

"We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures. Please note that any pending interest, including bonus interest (if applicable), is paid on the last working day of the following month, not at the time of transfer or Plum ISA maturity.

When this interest is paid, it will be added to your Plum ISA account. You’ll then have the option to:

• Withdraw the funds to your Plum Pocket and linked bank account, or
• Request a new transfer through your external ISA provider for us to send the funds to.

In any case, the choice will be yours once the interest arrives."

subjecttocontract

MeteredOut said:

slinger2 said:

Middle_Sister said:

slinger2 said:

The "2.38% bonus rate for 3 months" will give you 2.38%/4=0.6%. Adding that to your 3.54% will give you 4.14% over the year. So leaving it with Plum for the whole year is probably not the best idea, unless they come up with another bonus. And it's a variable rate product so it might well be less than advertised.

Of course you could transfer it out of Plum after 3 months and hope to get a better rate or another bonus.

Thanks for that.  I didn't realise I could transfer out after the 3/4 months. I thought I had to keep it for the year. I think that's what I'll do. 

There's a number of other threads about this account which you should read. My reading is that the bonus will be paid after 3 months. You'll lose some interest when you move money out. The whole thing's a can of worms. Personally I wouldn't touch it with a bargepole.

I'm not sure you'll lose interest. I've just done a transfer from Plum and the email confirmation states

"We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures. Please note that any pending interest, including bonus interest (if applicable), is paid on the last working day of the following month, not at the time of transfer or Plum ISA maturity.

When this interest is paid, it will be added to your Plum ISA account. You’ll then have the option to:

• Withdraw the funds to your Plum Pocket and linked bank account, or
• Request a new transfer through your external ISA provider for us to send the funds to.

In any case, the choice will be yours once the interest arrives."

What a palaver.......I've decided to stick with main stream ISA providers rather than use any of these new kids on the block.

FishInGlass

MeteredOut said:

slinger2 said:

Middle_Sister said:

slinger2 said:

The "2.38% bonus rate for 3 months" will give you 2.38%/4=0.6%. Adding that to your 3.54% will give you 4.14% over the year. So leaving it with Plum for the whole year is probably not the best idea, unless they come up with another bonus. And it's a variable rate product so it might well be less than advertised.

Of course you could transfer it out of Plum after 3 months and hope to get a better rate or another bonus.

Thanks for that.  I didn't realise I could transfer out after the 3/4 months. I thought I had to keep it for the year. I think that's what I'll do. 

There's a number of other threads about this account which you should read. My reading is that the bonus will be paid after 3 months. You'll lose some interest when you move money out. The whole thing's a can of worms. Personally I wouldn't touch it with a bargepole.

I'm not sure you'll lose interest. I've just done a transfer from Plum and the email confirmation states

"We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures. Please note that any pending interest, including bonus interest (if applicable), is paid on the last working day of the following month, not at the time of transfer or Plum ISA maturity.

When this interest is paid, it will be added to your Plum ISA account. You’ll then have the option to:

• Withdraw the funds to your Plum Pocket and linked bank account, or
• Request a new transfer through your external ISA provider for us to send the funds to.

In any case, the choice will be yours once the interest arrives."

That could go on ad infinitum if you request a new transfer for the interest

Beeblebr0x

How long has it been since Tembo temporarily stopped accepting cash ISA transfers? I'm thinking of transferring some ISAs to my Moneybox ISA in the meantime as the interest rate is almost as good.

soulsaver

FishInGlass said:

MeteredOut said:

slinger2 said:

Middle_Sister said:

slinger2 said:

The "2.38% bonus rate for 3 months" will give you 2.38%/4=0.6%. Adding that to your 3.54% will give you 4.14% over the year. So leaving it with Plum for the whole year is probably not the best idea, unless they come up with another bonus. And it's a variable rate product so it might well be less than advertised.

Of course you could transfer it out of Plum after 3 months and hope to get a better rate or another bonus.

Thanks for that.  I didn't realise I could transfer out after the 3/4 months. I thought I had to keep it for the year. I think that's what I'll do. 

There's a number of other threads about this account which you should read. My reading is that the bonus will be paid after 3 months. You'll lose some interest when you move money out. The whole thing's a can of worms. Personally I wouldn't touch it with a bargepole.

I'm not sure you'll lose interest. I've just done a transfer from Plum and the email confirmation states

"We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures. Please note that any pending interest, including bonus interest (if applicable), is paid on the last working day of the following month, not at the time of transfer or Plum ISA maturity.

When this interest is paid, it will be added to your Plum ISA account. You’ll then have the option to:

• Withdraw the funds to your Plum Pocket and linked bank account, or
• Request a new transfer through your external ISA provider for us to send the funds to.

In any case, the choice will be yours once the interest arrives."

That could go on ad infinitum if you request a new transfer for the interest

A closure request would be the normal action to avoid infinity...

1spiral

soulsaver said:

FishInGlass said:

MeteredOut said:

slinger2 said:

Middle_Sister said:

slinger2 said:

The "2.38% bonus rate for 3 months" will give you 2.38%/4=0.6%. Adding that to your 3.54% will give you 4.14% over the year. So leaving it with Plum for the whole year is probably not the best idea, unless they come up with another bonus. And it's a variable rate product so it might well be less than advertised.

Of course you could transfer it out of Plum after 3 months and hope to get a better rate or another bonus.

Thanks for that.  I didn't realise I could transfer out after the 3/4 months. I thought I had to keep it for the year. I think that's what I'll do. 

There's a number of other threads about this account which you should read. My reading is that the bonus will be paid after 3 months. You'll lose some interest when you move money out. The whole thing's a can of worms. Personally I wouldn't touch it with a bargepole.

I'm not sure you'll lose interest. I've just done a transfer from Plum and the email confirmation states

"We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures. Please note that any pending interest, including bonus interest (if applicable), is paid on the last working day of the following month, not at the time of transfer or Plum ISA maturity.

When this interest is paid, it will be added to your Plum ISA account. You’ll then have the option to:

• Withdraw the funds to your Plum Pocket and linked bank account, or
• Request a new transfer through your external ISA provider for us to send the funds to.

In any case, the choice will be yours once the interest arrives."

That could go on ad infinitum if you request a new transfer for the interest

A closure request would be the normal action to avoid infinity...

But isn't that what the post was about? I assumed that "We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures." relates to a closure.

If it was only a partial transfer, I'm not sure you'd be looking to add the interest to the transfer at a later date.

soulsaver

1spiral said:

soulsaver said:

FishInGlass said:

MeteredOut said:

slinger2 said:

Middle_Sister said:

slinger2 said:

The "2.38% bonus rate for 3 months" will give you 2.38%/4=0.6%. Adding that to your 3.54% will give you 4.14% over the year. So leaving it with Plum for the whole year is probably not the best idea, unless they come up with another bonus. And it's a variable rate product so it might well be less than advertised.

Of course you could transfer it out of Plum after 3 months and hope to get a better rate or another bonus.

Thanks for that.  I didn't realise I could transfer out after the 3/4 months. I thought I had to keep it for the year. I think that's what I'll do. 

There's a number of other threads about this account which you should read. My reading is that the bonus will be paid after 3 months. You'll lose some interest when you move money out. The whole thing's a can of worms. Personally I wouldn't touch it with a bargepole.

I'm not sure you'll lose interest. I've just done a transfer from Plum and the email confirmation states

"We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures. Please note that any pending interest, including bonus interest (if applicable), is paid on the last working day of the following month, not at the time of transfer or Plum ISA maturity.

When this interest is paid, it will be added to your Plum ISA account. You’ll then have the option to:

• Withdraw the funds to your Plum Pocket and linked bank account, or
• Request a new transfer through your external ISA provider for us to send the funds to.

In any case, the choice will be yours once the interest arrives."

That could go on ad infinitum if you request a new transfer for the interest

A closure request would be the normal action to avoid infinity...

But isn't that what the post was about? I assumed that "We aim to process this transfer within 5 working days, unless your provider has asked us to wait until your Plum ISA matures." relates to a closure.

If it was only a partial transfer, I'm not sure you'd be looking to add the interest to the transfer at a later date.

The post I responded to was solely about dealing with ad infinitum.. 

flobbalobbalob

Monument now has "Transfer in from existing cash ISA" on my app today.

Whole transfers only. 

friolento

flobbalobbalob said:

Monument now has "Transfer in from existing cash ISA" on my app today.

Whole transfers only. 

Excellent, thank you for the heads up! Have just requested a transfer.

Aside from whole transfers only, they also don't support any notice periods - i.e. if your to-be-transferred ISA isn't easy access, the old provider might not process the transfer request as you haven't given your permission for early termination of the old ISA.

Also only 1 transfer at any one time.

northernstar007

flobbalobbalob said:

Monument now has "Transfer in from existing cash ISA" on my app today.

Whole transfers only. 

i'm reading on there site is it true you have to pay to be a member £16.95 p/m