Best Rate Cash ISA that allows transfers in

Canny_mal

Is it me or do fewer and fewer ISA's, particularly those paying better rates, allow transfers of previous years savings thesedays?

Does anyone know who currently offers the best rate on transfers in?

MrChips

I haven't checked today, but I was looking into this last week and Abbey were offering the best rate on transfer ins.

If you can put over £9000 in, they will pay 5.75% until May 2008 and guarantee to match any base rate moves.

What I'm not sure about though is if you can open one purely with transfers. I don't want to put any new money in as I'm thinking of going for either Egg or Barclays this year.

KTF

Yes, you can open the Abbey one using only transfer money.

For a full list of ISAs that allow transfers in, look here: http://forums.moneysavingexpert.com/showthread.html?t=401374

ED

Does Abbey allow partial (not full) transfer-in of previous years' ISA savings? Foolishly, I didn't consider this previously.

slipthru

I thought the northern rock at 6.01% was the best with transfer in's.

http://www.northernrock.co.uk/html/savings/savings.htm

ED

I've now visited Abbey - got my answer, yes partial transfers-in perfectly OK for the Direct ISA, and no requirement to open current year ISA.

slipthru - Northern Rock's 6.01% is Fixed Rate, whereas Abbey is amongst rivals with a Base Rate guarantee. I'm off to search their site for the T+C, to check if this would mean 5.75% now (£9,000+ balance), + same amount as any Base Rate rise = perhaps 6.00% (BR rise of 0.25%) or 6.25% (BR rise of 0.50%). Latter seems just possible for May 10th BR decision, because many lenders are already withdrawing Fixed Rate mortgages. Something is up...

Update - I've viewed the T+C etc on Abbey's site. It states :

''Includes VARIABLE [my emphasis] rate bonus, currently equal to 0.50% gross p.a. which is payable until 1 May 2008. Rates are guaranteed to match any increase in the Bank of England base rate until 1 May 2008.''

Who feels confident the variable % Bonus will not dip below 0.50%, even if the primary Interest rate increases as per Base Rate? Now I'm dithering... Anyone else?

oldfella

I chose YBS e-ISA for my transfers because it has been consistently high and includes no bonus - would prefer not to have to move again for as long as possible

Mike

ED

Mike oldfella - Yorkshire Bdg Society certainly have a good habit of stability + fairness with interest rates. I'll look into their ISA for transfers-in.

optimist_2

What rates are YBS and Yorkshire giving for transfers in? I thought that the best variable rate for transfers in below £9000 was Kent and Reliance at 5.71%.

Cheers

ED

Yorkshire Bdg Society (YBS) offer 5.65% gross for their e-ISA and have done so since January 28th. I'm tempted. May wait till after May 10th Base Rate rise to see if Kent Reliance BS remain slightly more competitive. Or perhaps Northern Rock will boost their Fixed Rate offer beyond the current 6.01%, although I may kick myself later in the year if further Base Rate rises occur as widely predicted. At least YBS + KRBS are variable rates.

lisyloo

If you have more than £15K to transfer then I think Ruffler bank are the best varaible rate at 5.93% AER (5.80% gross but paid quarterly hence compounds to 5.93%).

I have had excellent service from them so far.
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