Egg Cash ISA - 6.05% (merged)

Midas

I had got as far as filling in the form for Barclays, but have just opened the Egg ISA instead. As an existing customer it is literally a 2 minute process, and I keep my money away from the evil Barclays!

KTF

I went for egg as well. For 3k the difference is about £15 from memory and as I am an existing customer it was opened in minutes and the interest is being earned now.

Now I need to open the Abbey one to transfer over my other ISAs.

morg_monster

i can't believe this... i had investigated where to have this years ISA and decided on Barclays in the end. I actually went in to my local branch on Thursday and they took the form and cheque off me just said it wouldn't be processed until the next day (well more accurately tuesday with the holidays).
I have an Egg Money card and Egg savings and use Money Manager, so I get quite a lot of junk from Egg re loans and mortgages and investing which are products I DON'T need - I don't konw why they didn't send me an email about this! I would have taken the 0.25% drop in interest rate to have an ISA I could administer online. just trying to decide whether to invoke the 14day cancellation period with Barclays...

sloth

just a quick question (i hope!)

if i open an egg isa today and deposit the £3000 and say in 3 months time they drop their rate to something stupid, i know that i can not then transfer my £3000 from egg to ns&i as they do not allow transfers in, but can i shut the egg isa and open up the ns&i isa with 'new' money?

thanks

jem16

sloth wrote: »

just a quick question (i hope!)

if i open an egg isa today and deposit the £3000 and say in 3 months time they drop their rate to something stupid, i know that i can not then transfer my £3000 from egg to ns&i as they do not allow transfers in, but can i shut the egg isa and open up the ns&i isa with 'new' money?

thanks

No you wouldn't be able to do that as you will already have subscribed to an ISA in this tax year. Your only option would be to transfer to somewhere that does accept transfers.

Anon

Bother - may have been better to have set up a new Abbey Direct ISA at 5.75% (on over £9000 including transfers in) - as I have now set up a new Egg account and used my 07/08 allowance, cannot get this (as transfers in only available if you set up the new one as well). Overall, although lower rate, it would have been better overall. Oh well, lesson learned!

Anon

Kazza242

Anon wrote: »

Bother - may have been better to have set up a new Abbey Direct ISA at 5.75% (on over £9000 including transfers in) - as I have now set up a new Egg account and used my 07/08 allowance, cannot get this (as transfers in only available if you set up the new one as well). Overall, although lower rate, it would have been better overall. Oh well, lesson learned!

If you wish to transfer your existing ISAs (from previous tax years) over to Abbey, you are allowed to do so without having to open a 07/08 ISA with them as well. I'm considering transferring over my existing ISAs to Abbey, but my 07/08 ISA is held by another provider.

sue.b_2

I have just opened an egg ISA. It took a couple of minutes because I am already a customer.
This was after spending time 'discussing' the need for an interview with a Barclays cashier at my local branch. If I had read the forum on the Barclays ISA I would have gone straight for the egg one. I had expected to go into the branch, hand over the form, cheque and ID and get the account opened there and then but that is not how it works. Barclays seem to want to use this loss-leader as a way of getting personal information for marketing purposes.
The ability to use the internet for dealing with the egg account outweighs the small amount of extra interest and the hassle of talking to the idiots at Barclays.

butterfly72

Anon wrote: »

Bother - may have been better to have set up a new Abbey Direct ISA at 5.75% (on over £9000 including transfers in) - as I have now set up a new Egg account and used my 07/08 allowance, cannot get this (as transfers in only available if you set up the new one as well). Overall, although lower rate, it would have been better overall. Oh well, lesson learned!

Anon

I was thinking of using my 07/08 and transferring in to get the 5.75%. However, I have the Postal Isa issue 2 (which was a great rate when I opened it) and in my experience Abbey haven't been very good at raising thier rates! So I'm not sure now.

Anon

Kazza242 wrote: »

If you wish to transfer your existing ISAs (from previous tax years) over to Abbey, you are allowed to do so without having to open a 07/08 ISA with them as well. I'm considering transferring over my existing ISAs to Abbey, but my 07/08 ISA is held by another provider.

It may be a stupid question, but do you know how to do this without opening a 2007/8 account please? Started filling in the online forms but when you get to the second page the declaration is for opening a new 2007/8 account and asks do you also wish to transfer in and add money, or open 2007/8 with no new money (it doesn't seem to have an option for just transferring in unless I am missing it).

Many thanks

Anon