Cash ISAs: The Best Currently Available List

ToastLady

slinger2 said:

10_66 said:

yourlocalcheesemonger said:

Any opinions on XTB cash ISA paying out 6.5% on uninvested cash. The only thing is the website reminds me of FTX with it's celebrity endorsements https://www.xtb.com/en/isa

Also what about CMC's cash ISA paying 5.7%? Although this is in QMMFs so slightly more risky. https://www.cmcinvest.com/en-gb/cash-isa 

I just wonder why people are going for Monument's 4.76%.

From what I can see for XTB, it doesn't say it's a Cash ISA and, at the bottom of the page it states "Capital at risk. The value of your investments may go up or down. Tax treatment depends on your individual circumstances and ISA regulations which may change. A 2% AER boost will be added to the standard variable interest rate on your free ISA funds for the first 90 days. T&Cs apply."

Yes, it's very confusing that some are calling this a "cash ISA" when it seems it's a "Stocks & shares ISA". They're quite different things. Let's get it right.

When I looked at xtb, a warning comes up at top of page:-
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
That's enough to put me off. To be honest I didn't look any further, as I've already got ISA for this tax year sorted, for now anyway.

masonic

ToastLady said:

slinger2 said:

10_66 said:

yourlocalcheesemonger said:

Any opinions on XTB cash ISA paying out 6.5% on uninvested cash. The only thing is the website reminds me of FTX with it's celebrity endorsements https://www.xtb.com/en/isa

Also what about CMC's cash ISA paying 5.7%? Although this is in QMMFs so slightly more risky. https://www.cmcinvest.com/en-gb/cash-isa 

I just wonder why people are going for Monument's 4.76%.

From what I can see for XTB, it doesn't say it's a Cash ISA and, at the bottom of the page it states "Capital at risk. The value of your investments may go up or down. Tax treatment depends on your individual circumstances and ISA regulations which may change. A 2% AER boost will be added to the standard variable interest rate on your free ISA funds for the first 90 days. T&Cs apply."

Yes, it's very confusing that some are calling this a "cash ISA" when it seems it's a "Stocks & shares ISA". They're quite different things. Let's get it right.

When I looked at xtb, a warning comes up at top of page:-
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
That's enough to put me off. To be honest I didn't look any further, as I've already got ISA for this tax year sorted, for now anyway.

That's their main business. Not dissimilar to Trading212. In the same way, their profits from this are probably being used to cross-subsidise their S&S ISA and pay for the bonus rate on offer. CFDs are not eligible for inclusion in any type of ISA.

RG2015

Eirambler said:

MToastLady said:

flobbalobbalob said:

Eirambler said:

Has anyone with a Zopa ISA 0.5% bonus due to expire around the end of the tax year found that it's still there? Had a 0.5% bonus due to expire on 6/4, got an email saying the rate would revert down at that point, but a week on the account is still showing 4.5% including a 0.5% bonus. Can't find a more recent email confirming a new bonus?

I got the email that the 0.5% bonus was ending leaving the base of 3.8%. Then I got the email that the base rate was increasing to 4% when the bonus expires. I am now on 4% with no bonus from the 6th. 

I also got email on 21/3 saying that bonus was ending on 6th April, but never got one saying base rate was increasing, only knew about it from reading it on the forum. Sure enough rate on app had gone from 4.3% to 4.5%. Rate is still 4.50% on app, breakdown 4% variable, 0.5% fixed (no mention of length of bonus). It's a moot point for me now, as already applied to transfer elsewhere and expect that to be completed fairly soon. 

Yes, we're the same. Am intending to merge another ISA into it as there's supposed to be a further bonus if you do that before June, so will see what happens once that transfer is complete.

Re Zopa Smart ISA

I have transferred an ISA in and this along with my existing Smart ISA pots are now all at 5.01% for 3 months.

friolento

Kim_13 said:

Those allowing a fix to be paid into for the duration of the term might argue that not allowing* Cash ISAs to be subscribed to with another provider isn’t unfair - you’re not prevented from using your remaining allowance, or forced into using a S&S ISA in order to do so. From their perspective, it’s a price you pay for holding an ISA with more favourable terms than you would find elsewhere.

I am sorry, but it is just not true that the KR or Charter ISAs have more favourable terms than people would find / have found elsewhere.

It is also not true that they have the right to force anyone to accept their prohibitive request to transfer other cash ISAs to them. It wouldn't even work for those who already have 2 cash ISAs elsewhere because the silly KR/Charter demands only cater for one existing ISA

It is, however, very easy to ignore their audacious request: you just "forget" that you have already paid into a cash ISA elsewhere this year. Unless you tell them, KR/Charter have exactly zero legal means - or rights - to ever find out about your other ISA(s). HMRC are the only third party who will know, after the end of the current financial year and after all ISA providers have delivered their statutory reports to HMRC, how many ISAs you contributed to in a given tax year. HMRC's only concern is that you have not subscribed more than your annual allowance.

I find it quite concerning that anyone would defend the unusual (to put it mildly) KR/Charter demands.

Malchester

friolento said:

Kim_13 said:

Those allowing a fix to be paid into for the duration of the term might argue that not allowing* Cash ISAs to be subscribed to with another provider isn’t unfair - you’re not prevented from using your remaining allowance, or forced into using a S&S ISA in order to do so. From their perspective, it’s a price you pay for holding an ISA with more favourable terms than you would find elsewhere.

I am sorry, but it is just not true that the KR or Charter ISAs have more favourable terms than people would find / have found elsewhere.

It is also not true that they have the right to force anyone to accept their prohibitive request to transfer other cash ISAs to them. It wouldn't even work for those who already have 2 cash ISAs elsewhere because the silly KR/Charter demands only cater for one existing ISA

It is, however, very easy to ignore their audacious request: you just "forget" that you have already paid into a cash ISA elsewhere this year. Unless you tell them, KR/Charter have exactly zero legal means - or rights - to ever find out about your other ISA(s). HMRC are the only third party who will know, after the end of the current financial year and after all ISA providers have delivered their statutory reports to HMRC, how many ISAs you contributed to in a given tax year. HMRC's only concern is that you have not subscribed more than your annual allowance.

I find it quite concerning that anyone would defend the unusual (to put it mildly) KR/Charter demands.

Sadly it's not just KR and Charter who try to pull this one

masonic

Malchester said:

friolento said:

Kim_13 said:

Those allowing a fix to be paid into for the duration of the term might argue that not allowing* Cash ISAs to be subscribed to with another provider isn’t unfair - you’re not prevented from using your remaining allowance, or forced into using a S&S ISA in order to do so. From their perspective, it’s a price you pay for holding an ISA with more favourable terms than you would find elsewhere.

I am sorry, but it is just not true that the KR or Charter ISAs have more favourable terms than people would find / have found elsewhere.

It is also not true that they have the right to force anyone to accept their prohibitive request to transfer other cash ISAs to them. It wouldn't even work for those who already have 2 cash ISAs elsewhere because the silly KR/Charter demands only cater for one existing ISA

It is, however, very easy to ignore their audacious request: you just "forget" that you have already paid into a cash ISA elsewhere this year. Unless you tell them, KR/Charter have exactly zero legal means - or rights - to ever find out about your other ISA(s). HMRC are the only third party who will know, after the end of the current financial year and after all ISA providers have delivered their statutory reports to HMRC, how many ISAs you contributed to in a given tax year. HMRC's only concern is that you have not subscribed more than your annual allowance.

I find it quite concerning that anyone would defend the unusual (to put it mildly) KR/Charter demands.

Sadly it's not just KR and Charter who try to pull this one

Other providers, when challenged robustly, have backed down. No doubt KR and Charter would too. Unfortunately, unscrupulous firms will from time to time try it on, and it is only by customers standing up for their rights, reporting bad behaviour, and educating those who do not understand their consumer rights, that such practices can be stamped out.

charlie12525

slinger2 said:

10_66 said:

yourlocalcheesemonger said:

Any opinions on XTB cash ISA paying out 6.5% on uninvested cash. The only thing is the website reminds me of FTX with it's celebrity endorsements https://www.xtb.com/en/isa

Also what about CMC's cash ISA paying 5.7%? Although this is in QMMFs so slightly more risky. https://www.cmcinvest.com/en-gb/cash-isa 

I just wonder why people are going for Monument's 4.76%.

From what I can see for XTB, it doesn't say it's a Cash ISA and, at the bottom of the page it states "Capital at risk. The value of your investments may go up or down. Tax treatment depends on your individual circumstances and ISA regulations which may change. A 2% AER boost will be added to the standard variable interest rate on your free ISA funds for the first 90 days. T&Cs apply."

Yes, it's very confusing that some are calling this a "cash ISA" when it seems it's a "Stocks & shares ISA". They're quite different things. Let's get it right.

Just had a look at XTB.

They clearly state that they only offer a Flexible Stocks & Shares ISA.

The 6.5% var interest is on your uninvested cash.

I've looked through the terms and the FAQ. I can't see any catches. You do have to open their base account first then open the ISA.

I don't see why you couldn't pay in or transfer in and get the 6.5% on your cash then transfer out in 90 days.

I'm still looking for a home for this year's ISA. XTB are on the shortlist.

s71hj

charlie12525 said:

slinger2 said:

10_66 said:

yourlocalcheesemonger said:

Any opinions on XTB cash ISA paying out 6.5% on uninvested cash. The only thing is the website reminds me of FTX with it's celebrity endorsements https://www.xtb.com/en/isa

Also what about CMC's cash ISA paying 5.7%? Although this is in QMMFs so slightly more risky. https://www.cmcinvest.com/en-gb/cash-isa 

I just wonder why people are going for Monument's 4.76%.

From what I can see for XTB, it doesn't say it's a Cash ISA and, at the bottom of the page it states "Capital at risk. The value of your investments may go up or down. Tax treatment depends on your individual circumstances and ISA regulations which may change. A 2% AER boost will be added to the standard variable interest rate on your free ISA funds for the first 90 days. T&Cs apply."

Yes, it's very confusing that some are calling this a "cash ISA" when it seems it's a "Stocks & shares ISA". They're quite different things. Let's get it right.

Just had a look at XTB.

They clearly state that they only offer a Flexible Stocks & Shares ISA.

The 6.5% var interest is on your uninvested cash.

I've looked through the terms and the FAQ. I can't see any catches. You do have to open their base account first then open the ISA.

I don't see why you couldn't pay in or transfer in and get the 6.5% on your cash then transfer out in 90 days.

I'm still looking for a home for this year's ISA. XTB are on the shortlist.

Do you have to put any money in the isa or can you just grab 3 months at 6.5% and never fund, or just fund with a quid?

pecunianonolet

yourlocalcheesemonger said:

Any opinions on XTB cash ISA paying out 6.5% on uninvested cash. The only thing is the website reminds me of FTX with it's celebrity endorsements https://www.xtb.com/en/isa

Also what about CMC's cash ISA paying 5.7%? Although this is in QMMFs so slightly more risky. https://www.cmcinvest.com/en-gb/cash-isa 

I just wonder why people are going for Monument's 4.76%.

I opened a CMC ISA on the 6th April and requested a transfer in from Virgin Money and transfer was completed on the 10th April and Virgin paid until the day the funds were transferred and CMC paid interest from the day received so no gap. 

Decided that I will initiate another transfer tomorrow to move my Chip ISA over as well and close my Chip account after. 

The only downside I had was that the email to verify my email address wasn't coming through for almost a day when I opened an account with them but everything else now fine and without issues. 

pecunianonolet

Chip ISA

Does anyone know if the account details Chip provides are unique? 

Trying to transfer out to CMC and Chip doesn't appear in their drop down list. Called CMC and was told I should enter details manually. So get a field for account number and an optional field for the sort code. Can obtain both bits of info when I go into Chip and select manual pay in. This is where I also see my unique reference number. 

However, I only have the account number and sort code fields when I want to initiate a transfer to CMC and fear that it will end up in chaos if I can't provide this unique reference number and they may not find it, refuse it, etc.

Hesitating if I should transfer first to a different provider e.g. Coventry and back out again?