Cash ISAs: The Best Currently Available List

pecunianonolet

Anyone experience with Vanquis and their ISA services and customer service overall?

Considering opening their Tripple Access ISA for 4.25% as an option.
https://www.vanquis.com/savings/isas/triple-access-isa/

harz99

pecunianonolet said:

Anyone experience with Vanquis and their ISA services and customer service overall?

Considering opening their Tripple Access ISA for 4.25% as an option.
https://www.vanquis.com/savings/isas/triple-access-isa/

We've used them without issue in the past, no problems transferring in or out. Just be aware to keep an eye on the variable interest rate, as iirc they don't notify individual customers of changes.

allegro120

gesdt50 said:

allegro120 said:

refluxer said:

gesdt50 said:

Good day, for Investec/Tembo who is providing backup, gate fencing for the FSA £85,000? Is the Tembo/Investec a flexible account they try to force one to download the app to get extra details, the summary if you can call it that has only a few headlines a lot less than typically given by banks, platforms etc..?

As Tembo aren't a bank and their fixed rate ISA is 'provided by Investec', then presumably the FSCS protection (which is now £120k, incidentally) must lie with Investec ? It'll be worth confirming this with Tembo if large amounts are involved.

It's only really worth going with Tembo if you want to transfer-in or already have a Tembo account, otherwise you'd be better off dealing with Investec directly and cutting out the middleman.

Yes, the FSCS protection lies with Investec.  

Investec said they were considering the transfer in option when they offered the cash ISA a few months back, not sure if they are going to allow tranfers in the near future or Tembo partnership was what they had in mind

I've looked at opening Investec ISA, they still don't do transfers in.  I've only got £89 of unused allowance left until 6th April, that's why I went for Tembo.

2010

Charter have pulled their 1yr fixed ISA @ 4.30%

Born2Save_3

allegro120 said:

refluxer said:

gesdt50 said:

Good day, for Investec/Tembo who is providing backup, gate fencing for the FSA £85,000? Is the Tembo/Investec a flexible account they try to force one to download the app to get extra details, the summary if you can call it that has only a few headlines a lot less than typically given by banks, platforms etc..?

As Tembo aren't a bank and their fixed rate ISA is 'provided by Investec', then presumably the FSCS protection (which is now £120k, incidentally) must lie with Investec ? It'll be worth confirming this with Tembo if large amounts are involved.

It's only really worth going with Tembo if you want to transfer-in or already have a Tembo account, otherwise you'd be better off dealing with Investec directly and cutting out the middleman.

Yes, the FSCS protection lies with Investec.  

This is a good site to check FSCS protection and if the organisations you're invested with or considering investing with, share protection :

https://www.fscs.org.uk/check/check-your-money-is-protected/

Born2Save_3

2010 said:

@CuparLad Shawbrook will transfer it by 11th Jan but as soon as it matures it will be transferred into their "matured ISA account" paying a disrisery 0.10%.
At least that was my experience.


Also CSB say 30 days but they will give you more time when they know the transfer has been set up because it's them that have to request it from Shawbrook.

I've requested a transfer from a Shawbrook 1Y ISA Fix to a CSB ISA Fix and there are 7 days from Shawbrook maturity to the CSB 30 day limit.  CSB CS have confirmed that they should allow more than 30 days if the transfer has been initiated but not completed by the 30 day deadline.  CSB actioned the transfer almost immediately and a day later I received an email from Shawbrook stating  : 

"We’ll release your funds on a future date

Dear B2S,

We’ve received your request to transfer your Shawbrook ISA to Charter Savings Bank. We have informed them that we have put your request on hold until your account matures.

If you wish to start the transfer earlier, you will need to contact Charter Savings Bank to confirm your decision.

Need help?

If you have any questions, log in to your account and send us a message. You can also call us on 0345 266 6611. We’re open from 9am to 5pm, Monday to Friday, excluding bank holidays.

Thank you for saving with Shawbrook.  

The Savings Team"

Shawbrook CS told me that they inform the recipient organisation that the ISA is available once maturity occurs, but it is then on the recipient to re-request the ISA.  There were some specific phrases used to describe these events, but as I don't recall them exactly, they have not been used.

CuparLad

Born2Save_3 said:

Shawbrook CS told me that they inform the recipient organisation that the ISA is available once maturity occurs, but it is then on the recipient to re-request the ISA.  

Hence their use of the derisory 0.1% maturity account. It's this sort of thing that the PRA/FCA should stamp on because the consumer can't intervene.

refluxer

Born2Save_3 said:

Shawbrook CS told me that they inform the recipient organisation that the ISA is available once maturity occurs, but it is then on the recipient to re-request the ISA. 

I've not heard that before - I wonder if this is how all transfers with the 'wait until maturity' option ticked operate ?

Sounds to me like it'll just add an extra step to the process and could explain the unexpected delays some people experience, where the funds are stuck in a low-interest holding account while this last step takes place.

Shawbrook in particular have come under criticism when money gets stuck in that type of 'maturity' account while waiting for a pre-arranged transfer, which is why I usually arrange a transfer into a (higher-paying) easy access account on maturity before transferring elsewhere for another fixed rate. This isn't always possible though, as not all ISA providers offer an easy access option at maturity (I favour providers who do).