Cash ISAs: The Best Currently Available List

Bob2000

clairec666 said:

Bob2000 said:

clairec666 said:

pecunianonolet said:

Principality Online Bonus 5 Acces ISA issue 4 @ 4.25% is replaced with issue 5 at 4.4%

A rate increase - fantastic! For anyone who's got the issue 4, Principality will do an internal transfer if you contact them via direct message, they did for me last time there was a new issue.

I was just going to ask this very question:. If you could transfer internally the issues. 

Yes, they transferred mine today - I opened the issue 5, then requested the transfer. They responded to my message within a couple of hours. All transferred over, with interest added.

I suggest you DON'T try to transfer the money yourself (on the "account services" menu you can go to "Move money between Principality accounts"), I suspect this would count as a withdrawal and a deposit, rather than an ISA transfer, so would use some of the £20000 limit.

All done and dusted now.
Very easy to do
I messaged them over the weekend and had the confirmation  earlier.
Unlike you l just converted  my issue 4 to 5 and kept my account  number.

Bob2000

FishInGlass said:

clairec666 said:

Bob2000 said:

clairec666 said:

pecunianonolet said:

Principality Online Bonus 5 Acces ISA issue 4 @ 4.25% is replaced with issue 5 at 4.4%

A rate increase - fantastic! For anyone who's got the issue 4, Principality will do an internal transfer if you contact them via direct message, they did for me last time there was a new issue.

I was just going to ask this very question:. If you could transfer internally the issues. 

Yes, they transferred mine today - I opened the issue 5, then requested the transfer. They responded to my message within a couple of hours. All transferred over, with interest added.

I suggest you DON'T try to transfer the money yourself (on the "account services" menu you can go to "Move money between Principality accounts"), I suspect this would count as a withdrawal and a deposit, rather than an ISA transfer, so would use some of the £20000 limit.

I forgot that I should have opened the new account first. I sent them a secure message yesterday asking them to transfer the money from the existing account to the new one. They responded today requesting that I confirm that I approve the savings and account terms and conditions, which I have done. I have therefore slowed down the process but i'm sure I will get there in the end. 

Just to add I have had a very quick response and I now have my new account. One unexpected bonus of doing it this way is that I have retained the previous account number.

Same here. Happy days.

surreysaver

Bob2000 said:

clairec666 said:

Bob2000 said:

clairec666 said:

pecunianonolet said:

Principality Online Bonus 5 Acces ISA issue 4 @ 4.25% is replaced with issue 5 at 4.4%

A rate increase - fantastic! For anyone who's got the issue 4, Principality will do an internal transfer if you contact them via direct message, they did for me last time there was a new issue.

I was just going to ask this very question:. If you could transfer internally the issues. 

Yes, they transferred mine today - I opened the issue 5, then requested the transfer. They responded to my message within a couple of hours. All transferred over, with interest added.

I suggest you DON'T try to transfer the money yourself (on the "account services" menu you can go to "Move money between Principality accounts"), I suspect this would count as a withdrawal and a deposit, rather than an ISA transfer, so would use some of the £20000 limit.

All done and dusted now.
Very easy to do
I messaged them over the weekend and had the confirmation  earlier.
Unlike you l just converted  my issue 4 to 5 and kept my account  number.

Same here with my Principality 4. Converted to Issue 5 with interest added, kept same account number and can still pay in flexibly withdrawn funds

Ch1ll1Phlakes

Anyone recently transferred their ISA to Vida Savings. Had been looking at their easy access and defined access accounts but they seem to ask for all current tax-year contributions to be transferred to them.


They have this as part of their application process which you can't bypass.

Ch1ll1Phlakes

I did email them about this. This was their reply.

"
You are more than welcome to open an ISA with Vida Savings even if you have already done so this tax year.

You can transfer in any old subscriptions in full or in part however, if you wanted to deposit any of your current subscriptions, we would require you to hold the full amount with us.

When the government introduced the new ISA rules that let people split their ISA subscriptions between different providers in the same tax year, banks were given the option to adopt these new rules and Vida have decided not to at this time.

So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year.
"

masonic

Ch1ll1Phlakes said:

I did email them about this. This was their reply.

"
You are more than welcome to open an ISA with Vida Savings even if you have already done so this tax year.

You can transfer in any old subscriptions in full or in part however, if you wanted to deposit any of your current subscriptions, we would require you to hold the full amount with us.

When the government introduced the new ISA rules that let people split their ISA subscriptions between different providers in the same tax year, banks were given the option to adopt these new rules and Vida have decided not to at this time.

So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year.
"

Well that suggests they don't support partial transfers of current year subscriptions in or out, but not that you must move any current year subscriptions held elsewhere.

Kim_13

masonic said:

Ch1ll1Phlakes said:

I did email them about this. This was their reply.

"
You are more than welcome to open an ISA with Vida Savings even if you have already done so this tax year.

You can transfer in any old subscriptions in full or in part however, if you wanted to deposit any of your current subscriptions, we would require you to hold the full amount with us.

When the government introduced the new ISA rules that let people split their ISA subscriptions between different providers in the same tax year, banks were given the option to adopt these new rules and Vida have decided not to at this time.

So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year.
"

Well that suggests they don't support partial transfers of current year subscriptions in or out, but not that you must move any current year subscriptions held elsewhere.

Well, yes, but as they still think that requiring a customer to have all current year subscriptions with them is legitimate, you’d have to make a false declaration that you did not have any current year subscriptions.

Not supporting partial transfers of current year subscriptions was optional for providers, but it is their final sentence that is causing the problem. The screenshot from their application process only exists because of that sentence.

masonic

Kim_13 said:

masonic said:

Ch1ll1Phlakes said:

I did email them about this. This was their reply.

"
You are more than welcome to open an ISA with Vida Savings even if you have already done so this tax year.

You can transfer in any old subscriptions in full or in part however, if you wanted to deposit any of your current subscriptions, we would require you to hold the full amount with us.

When the government introduced the new ISA rules that let people split their ISA subscriptions between different providers in the same tax year, banks were given the option to adopt these new rules and Vida have decided not to at this time.

So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year.
"

Well that suggests they don't support partial transfers of current year subscriptions in or out, but not that you must move any current year subscriptions held elsewhere.

Well, yes, but as they still think that requiring a customer to have all current year subscriptions with them is legitimate, you’d have to make a false declaration that you did not have any current year subscriptions.
Not supporting partial transfers of current year subscriptions was optional for providers, but it is their final sentence that is causing the problem. The screenshot from their application process only exists because of that sentence.

It demonstrates a woeful naivety on their part. There is nothing in the legislation about the latter part being optional. Even if the lack of restriction to one cash ISA were optional, it would be the consumer who has the choice whether or not to subscribe to multiple cash ISAs. The provider cannot turn it from an option into no option. That would be a term that affects your statutory rights, which consumer contracts cannot do.

Because of the screenshot, the Financial Ombudsman test case will need to come from someone who subscribes to a Vida cash ISA first, then wishes to use the rest of their allowance in a different cash ISA.

clairec666

masonic said:

Kim_13 said:

masonic said:

Ch1ll1Phlakes said:

I did email them about this. This was their reply.

"
You are more than welcome to open an ISA with Vida Savings even if you have already done so this tax year.

You can transfer in any old subscriptions in full or in part however, if you wanted to deposit any of your current subscriptions, we would require you to hold the full amount with us.

When the government introduced the new ISA rules that let people split their ISA subscriptions between different providers in the same tax year, banks were given the option to adopt these new rules and Vida have decided not to at this time.

So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year.
"

Well that suggests they don't support partial transfers of current year subscriptions in or out, but not that you must move any current year subscriptions held elsewhere.

Well, yes, but as they still think that requiring a customer to have all current year subscriptions with them is legitimate, you’d have to make a false declaration that you did not have any current year subscriptions.
Not supporting partial transfers of current year subscriptions was optional for providers, but it is their final sentence that is causing the problem. The screenshot from their application process only exists because of that sentence.

It demonstrates a woeful naivety on their part. There is nothing in the legislation about the latter part being optional. Even if the lack of restriction to one cash ISA were optional, it would be the consumer who has the choice whether or not to subscribe to multiple cash ISAs. The provider cannot turn it from an option into no option. That would be a term that affects your statutory rights, which consumer contracts cannot do.

Because of the screenshot, the Financial Ombudsman test case will need to come from someone who subscribes to a Vida cash ISA first, then wishes to use the rest of their allowance in a different cash ISA.

Can't see how enforcing this "rule" (legal or not) is of any use to them, and can surely only lose them customers. I for one would be put off - I don't want to be tied to one cash ISA this year, I'd like to put some money into an easy-access and some into a fixed rate.

Also, the line "So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year." - kind of implies you can't transfer out later in the year? Surely wrong.

Ch1ll1Phlakes

clairec666 said:

masonic said:

Kim_13 said:

masonic said:

Ch1ll1Phlakes said:

I did email them about this. This was their reply.

"
You are more than welcome to open an ISA with Vida Savings even if you have already done so this tax year.

You can transfer in any old subscriptions in full or in part however, if you wanted to deposit any of your current subscriptions, we would require you to hold the full amount with us.

When the government introduced the new ISA rules that let people split their ISA subscriptions between different providers in the same tax year, banks were given the option to adopt these new rules and Vida have decided not to at this time.

So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year.
"

Well that suggests they don't support partial transfers of current year subscriptions in or out, but not that you must move any current year subscriptions held elsewhere.

Well, yes, but as they still think that requiring a customer to have all current year subscriptions with them is legitimate, you’d have to make a false declaration that you did not have any current year subscriptions.
Not supporting partial transfers of current year subscriptions was optional for providers, but it is their final sentence that is causing the problem. The screenshot from their application process only exists because of that sentence.

It demonstrates a woeful naivety on their part. There is nothing in the legislation about the latter part being optional. Even if the lack of restriction to one cash ISA were optional, it would be the consumer who has the choice whether or not to subscribe to multiple cash ISAs. The provider cannot turn it from an option into no option. That would be a term that affects your statutory rights, which consumer contracts cannot do.

Because of the screenshot, the Financial Ombudsman test case will need to come from someone who subscribes to a Vida cash ISA first, then wishes to use the rest of their allowance in a different cash ISA.

Can't see how enforcing this "rule" (legal or not) is of any use to them, and can surely only lose them customers. I for one would be put off - I don't want to be tied to one cash ISA this year, I'd like to put some money into an easy-access and some into a fixed rate.

Also, the line "So, if you're saving with us, your 25/26 ISA contributions will need to stay with us for the current tax year." - kind of implies you can't transfer out later in the year? Surely wrong.

Everything discussed here is what I had thought. The fact that multiple ISAs are now allowed per year should mean that a Vida ISA can be opened without having to move current year subscriptions. Based on what the email and application had said (specifically "Your current year's ISA subscription must be moved to us in full") I decided against opening the account as I have current year subscriptions in a stocks & shares ISA and wasn't willing to transfer them.

EDIT:
To go back to their email, I do now recall that multiple-isas-per-year rules were optional for providers so their rules are somewhat ok. However, the language used here doesn't get that message across clearly especially since I had to email them for this information. Nowhere on the website or ISA product pages is it mentioned that Vida will only accept current-year subscriptions if all subscriptions are held with them.

Plus, the optional part of the rules was about whether they chose to offer multiple ISA subscriptions to customers. For example, Barclays and Principality Building Society (to name a few) still only allow you to open one ISA with them per year but their websites still clearly explain you can open ISAs with other providers.

I think Vida might have got a little confused with the rules here.