Cash ISAs: The Best Currently Available List

gwapenut

Nick_C said:

Taking advice from @surreysaver in June (last time Skipton launched a better ISA), I phoned Skipton yesterday and got my Issue 8 Tracker upgraded to Issue 9.  Took about 5 minutes, and kept the same account number. 

I've used Skipton for years, mainly for Regular Saver accounts, and have always been happy with them.  

Thanks, I'd missed that idea. 

I have run my Skipton side ISA down flexibly this tax year, to take advantage of better rates elsewhere. Usually what I do is put the money back in, internal transfer, and take it out again. 

If I upgrade, do I need to fill it back up again first to avoid losing my flexible allowance? I appreciate no one may have encountered this scenario, and I also appreciate that what is theoretically lawful isn't always what happens with IT systems.

Nick_C

@gwapenut.  I did exactly the same as you in June.  I took about £9k out of Principality, paid it into Skipton, transferred Skipton v7 to Skipton v8, then withdrew the £9k from Skipton and sent it back to Principality.

Upgrading over the phone means you keep the same account number at Skipton, so you can avoid all this.  And further contributions I make to Skipton are simply replacing what I have previously withdrawn.

(I move money in and out of Skipton on a weekly basis.)

See pages 920 to 924 of this thread for other comments on this scenario. 

clairec666

gwapenut said:

Nick_C said:

Taking advice from @surreysaver in June (last time Skipton launched a better ISA), I phoned Skipton yesterday and got my Issue 8 Tracker upgraded to Issue 9.  Took about 5 minutes, and kept the same account number. 

I've used Skipton for years, mainly for Regular Saver accounts, and have always been happy with them.  

Thanks, I'd missed that idea. 

I have run my Skipton side ISA down flexibly this tax year, to take advantage of better rates elsewhere. Usually what I do is put the money back in, internal transfer, and take it out again. 

If I upgrade, do I need to fill it back up again first to avoid losing my flexible allowance? I appreciate no one may have encountered this scenario, and I also appreciate that what is theoretically lawful isn't always what happens with IT systems.

I'm in the same situation. The most recent ISA rules state that flexibly withdrawn funds can be returned to a different ISA, so theoretically we should be able to ditch the issue 8 and still be able to replace those funds later in the year. As you say though, IT systems may not have caught up with the new rules. I've left my issue 8 open with a minimal balance, so that I can top it up later in the year. If Skipton upgrade it to an issue 9 for you, I'm assuming you'll keep the same account number? So Skipton will regard it as the same account, and your withdrawn funds will be able to be returned to it without any problem.
As these ISA rules are all fairly recent though, nobody can guarantee that everything will get reported properly at the end of the tax year, and if mistakes are made then it will take some time for HMRC to catch up with you, if at all.

Ceresia

refluxer said:

SnowMan said:

Thanks. I've moved money into the 4.35% ISA but now wondering if they will reduce the rate on that even though it only first became available after the August base rate cut had already taken place.

I've just done the same. Interestingly, they haven't reduced the rates on the last 4 issues of the Online ISA yet (all of which were issued this year), so hopefully Issue 56's 4.35% will hold for a while...

Issue 52 Effective Date 14/11/2024 Rate 4.50%, 26/02/2025 4.20%, 27/05/2025  3.95% 
Issue 53 Effective Date 12/02/2025 Rate 4.20% 
Issue 54 Effective Date 12/05/2025 Rate 4.20% 
Issue 55 Effective Date 07/08/2025 Rate 3.90% 
Issue 56 Effective Date 03/09/2025 Rate 4.35% 

Issue 56 is still holding at 4.35% at 9 am on 25 September.

Growingold

Ceresia said:

refluxer said:

SnowMan said:

Thanks. I've moved money into the 4.35% ISA but now wondering if they will reduce the rate on that even though it only first became available after the August base rate cut had already taken place.

I've just done the same. Interestingly, they haven't reduced the rates on the last 4 issues of the Online ISA yet (all of which were issued this year), so hopefully Issue 56's 4.35% will hold for a while...

Issue 52 Effective Date 14/11/2024 Rate 4.50%, 26/02/2025 4.20%, 27/05/2025  3.95% 
Issue 53 Effective Date 12/02/2025 Rate 4.20% 
Issue 54 Effective Date 12/05/2025 Rate 4.20% 
Issue 55 Effective Date 07/08/2025 Rate 3.90% 
Issue 56 Effective Date 03/09/2025 Rate 4.35% 

Issue 56 is still holding at 4.35% at 9 am on 25 September.

Which bank are we talking about here please?

Nick_C

@Growingold

Above post refers to Cynergy Cash ISA, but you have to go back a few pages to discover this. 

It's annoying when people post without referencing the account/institution they are referring to. 

Northern_Wanderer

Nick_C said:

@Growingold

Above post refers to Cynergy Cash ISA, but you have to go back a few pages to discover this. 

It's annoying when people post without referencing the account/institution they are referring to. 

It is not a flexible ISA however.

Kim_13

winkowinko said:

Are Skipton any good? Any red flags that I should be aware of?

Considering transferring from Vida

Can’t fault them for Easy Access ISAs, but the default with a fixed product is for it to roll over onto another fixed account. I prefer to go with those providers who default to an Easy Access. I’ve just helped a family member with their Skipton Fixed ISA which they wanted to have moved into the Base Rate Tracker on maturity. I was a little worried about it as there was a poster here who reported that Skipton carried out their instructions immediately and that it triggered a penalty, in which Skipton had admitted fault so it couldn’t have been user error. No such problems, however if you use their maturity manager and the account you select has been withdrawn before maturity you then have the faff of needing to provide alternative instructions or undoing the re-fix if that window is missed. Given they allow accounts to be unfunded for 30 days before they are closed, I just opened them a Base Rate Issue 9 with nil and set the Fixed ISA for an internal transfer using the wait until maturity option (and took a screenshot in case.) 

Kim_13

gwapenut said:

Nick_C said:

Taking advice from @surreysaver in June (last time Skipton launched a better ISA), I phoned Skipton yesterday and got my Issue 8 Tracker upgraded to Issue 9.  Took about 5 minutes, and kept the same account number. 

I've used Skipton for years, mainly for Regular Saver accounts, and have always been happy with them.  

Thanks, I'd missed that idea. 

I have run my Skipton side ISA down flexibly this tax year, to take advantage of better rates elsewhere. Usually what I do is put the money back in, internal transfer, and take it out again. 

If I upgrade, do I need to fill it back up again first to avoid losing my flexible allowance? I appreciate no one may have encountered this scenario, and I also appreciate that what is theoretically lawful isn't always what happens with IT systems.

Yes, unless it’s current year subscription that you have flexibly withdrawn (as this can be repaid into any ISA.)

If it is prior year, a forumite reported success in secure messaging them and asking for their Base Rate Issue X to be converted into Issue Y. As long as you retain the same Skipton account number, it is regarded as the same ISA for the purposes of a flexible allowance.

surreysaver

gwapenut said:

Nick_C said:

Taking advice from @surreysaver in June (last time Skipton launched a better ISA), I phoned Skipton yesterday and got my Issue 8 Tracker upgraded to Issue 9.  Took about 5 minutes, and kept the same account number. 

I've used Skipton for years, mainly for Regular Saver accounts, and have always been happy with them.  

Thanks, I'd missed that idea. 

I have run my Skipton side ISA down flexibly this tax year, to take advantage of better rates elsewhere. Usually what I do is put the money back in, internal transfer, and take it out again. 

If I upgrade, do I need to fill it back up again first to avoid losing my flexible allowance? I appreciate no one may have encountered this scenario, and I also appreciate that what is theoretically lawful isn't always what happens with IT systems.

No need to fill it back up again, as the account will remain the same account with the same account number, just with the new T&Cs. You will even have interest paid until the date of change too.