Cash ISAs: The Best Currently Available List

FishInGlass

wallofbeans said:

clairec666 said:

wallofbeans said:

Hi All,

I've got a Virgin Money Exc Fixed ISA 12 at 5.05% that has just ended, and (I think) becomes an Easy Access Cash ISA Exclusive Issue 3 and the rate dropped to 4.11%

I'd like to add another 20k and move this to a new ISA with a better rate, but I can't do a fix, and all the rates where I can transfer previous ISA money in seem to be less than this new 4.11%.. so should I just leave it where it is and add another 20k to it.. or am I missing something?

4.11% is a decent rate right now! You should be able to transfer in to Trading 212 for a higher rate, although their rate seems to be dropping like a stone. Presumably if you withdraw everything from your matured Virgin ISA they will close the account and you won't be able to re-open it at that rate.

I'm unsure about going with Trading 212 as I've never heard of them before and it's apparently primarily a trading platform and has the money spread out over lots of banks, which all makes me nervous!

And yes, I think this rate will be gone if I take the money out. So maybe I should hold it there and hope for better options next year...

Without going with some of the niche companies such as Trading 212 there are a number of smaller banks and building societies which allow transfers in and are offering rates of above 4.5%. Just check https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/

If you think you might need to withdraw some of the money and replace it during the year the Ford Money Flexible Cash ISA pays 4.35%

clairec666

wallofbeans said:

I'm unsure about going with Trading 212 as I've never heard of them before and it's apparently primarily a trading platform and has the money spread out over lots of banks, which all makes me nervous!

Your money should be as safe with Trading 212 as with Virgin, but it's a bit unnerving that you don't get a normal account number and sort code that you would expect. And you can only communicate with them via email. Not everyone's cup of tea.

pecunianonolet

The Virgin ISA account drops in rate but is fully flexible, unlimited instant withdrawals and has an operating minimum balance of 0. They also allow partial transfers in and out. They are an excellent intermediary provider should you have funds with A and B doesn't take funds from A but does from C 

If you want to hold on to the Virgin account you could check for other providers and just make a partial transfer out leaving a quid behind. This will keep your Virgin ISA open for now and you could always transfer back in at a later time. All the Virgin Exclusive accounts with very favourable terms have vanished so I personally would hold on to the account, even with a small balance. You can always transfer out and close in the future.

northernstar007

pecunianonolet said:

All the Virgin Exclusive accounts with very favourable terms.

what favourable terms and also if a full tranfer out will that close the isa 

pecunianonolet

northernstar007 said:

pecunianonolet said:

All the Virgin Exclusive accounts with very favourable terms.

what favourable terms and also if a full tranfer out will that close the isa 

Full transfer out will close the ISA. Partial transfer leaving a quid behind will keep the account alive.

Favourable terms:

- Minimum balance is 0 --> I opened Exclusive Flexi ISA 2 when it was available and now well over a year, perhaps even 1.5 years later it became useful and I keep a small balance there. Virgin fix matured into a Flexi ISA issue 3 end of March and I had no issues to transfer to CMC Invest and close issue 3.  

- Partial transfers in and out --> Made use of this feature several times and Virgin has been always fast (I have a local branch I can go to if I have reason to speak to someone)

- Flexible
- Unlimited instant withdrawals & deposits

northernstar007

so its just another flexi isa, still cant see anything extra than other isa's

flobbalobbalob

northernstar007 said:

so its just another flexi isa, still cant see anything extra than other isa's

Not all flexible ISAs allow partial transfers out. Eg Zopa.

northernstar007

flobbalobbalob said:

northernstar007 said:

so its just another flexi isa, still cant see anything extra than other isa's

Not all flexible ISAs allow partial transfers out. Eg Zopa.

still nothing special about it, just another isa

pecunianonolet

northernstar007 said:

flobbalobbalob said:

northernstar007 said:

so its just another flexi isa, still cant see anything extra than other isa's

Not all flexible ISAs allow partial transfers out. Eg Zopa.

still nothing special about it, just another isa

I wonder how many other ISA's you can list offering all those features? Always keen to learn more.

northernstar007

pecunianonolet said:

northernstar007 said:

flobbalobbalob said:

northernstar007 said:

so its just another flexi isa, still cant see anything extra than other isa's

Not all flexible ISAs allow partial transfers out. Eg Zopa.

still nothing special about it, just another isa

I wonder how many other ISA's you can list offering all those features? Always keen to learn more.

what features?? am i missing something