Post Office Premier Cash ISA

nimdy

According to the savings page on the main site, the Post Office seem to be offering the highest interest on ISAs right now.

At the moment I have around £16k in a Northern Rock ISA. I think the higher rate on this ends in April, so I'm looking around for something to transfer my existing balance.

Heres my problem... The ISAs that have the best rates are usually either branch/post only, or dont allow transfers.

What is best for me to do? I find online systems good for transfering money, and just for looking at how much I've got in an account. The Post Office site says that this one allows phone access to the account - would this be for transfers or account management (e.g. press 1 to hear your balance, press 2 to make a transaction etc), or both?

I want to get the best deal with this as I can as the money will hopefully be going towards a deposit next year (end of 2013, maybe early 2014), so fixed products are not really on my radar.

barrowc

The Key Information - linked to at http://www.postoffice.co.uk/premier-cash-isa - on the Premier Cash ISA from the Post Office says:

One-off deposits can be made by sending a cheque
directly to us or over the telephone using a debit card.

You can obtain an up to date value (including interest
which has been calculated but not yet added to your
Account) and details of recent transactions by telephone
or post.

You may request a withdrawal or to close your account
by calling us or writing to us.
You can make a maximum of two withdrawals each tax
year. If, having made two withdrawals in the current
tax year, you need further access to your money, you
will have to close your Account or transfer it to another
ISA provider.

So it looks like you can do most things by phone. I've no experience of their phone line so don't know if it's automated or if you speak to an actual person

kidmugsy

Have a look at the Cambridge BS 2 year tracker. It pays 2.75% p.a. above base rate, so 3.25% p.a. at the moment. You can withdraw your money without penalty if you give 120 days notice. If you want to wait until April, just keep an eye open for what they are offering then. I'm a local customer and have found them excellent.