Old Northern Rock e-Isa 3.05%

MadMat

I pay into my cash ISA weekly each payday. So to confirm, if I make a couple of payments in April,I can transfer my isa to a new provider and continue to make payments in the same tax year to the new provider?

Mat

badger09

MadMat wrote: »

I pay into my cash ISA weekly each payday. So to confirm, if I make a couple of payments in April,I can transfer my isa to a new provider and continue to make payments in the same tax year to the new provider?

Mat

Yes - assuming you are free to transfer your ISA without any penalty. If its instant access, no problem - if its fixed term/fixed rate, you'll face a penalty for moving it before maturity

If you make payments by SO, I would cancel them during the transfer process to avoid possibly paying into 2 ISA at the same time

You must use the new provider's transfer process - don't try to do it yourself

johnbanks1948

GreenBitterfly wrote: »

I got an e-mail today, saying they are cutting the rate down to 2.40% from 2.80%. The change is happening in May, so they've let me know in plenty of time.

Just had my email this morning saying the same thing but i was on 3.05%. A big drop but dont think i will get any better for instant access isa anywhere else unless someone knows better

re08149383

GreenBitterfly wrote: »

I got an e-mail today, saying they are cutting the rate down to 2.40% from 2.80%. The change is happening in May, so they've let me know in plenty of time.

Got an email today saying my 3.05% old Northern Rock ISA is going to 2.40%! Very disappointed

MadMat

Got the same Email -

Important information about your Online E-ISA account
We are writing to give you advance notice of a reduction to the interest rate payable on your Online E-ISA account.

With effect from 20 May 2013 your account will earn 2.40% Tax-free 1 P.A/AER 2 , as shown below:


But looking around thats still a pretty good rate for an instant access account, only one I can see better is at 2.5% - not sure it's worth the effort of moving for 0.1% !!

Any

MadMat wrote: »

Got the same Email -

Important information about your Online E-ISA account
We are writing to give you advance notice of a reduction to the interest rate payable on your Online E-ISA account.

With effect from 20 May 2013 your account will earn 2.40% Tax-free 1 P.A/AER 2 , as shown below:


But looking around thats still a pretty good rate for an instant access account, only one I can see better is at 2.5% - not sure it's worth the effort of moving for 0.1% !!

Just today I thought I need to drop them a note for rates to see whether to stop standing order before new tax year and got this email.
I have the same sentiment as you.
2.4% is still competetive and a drop was to be expected. We could have done worse.
Not going to move it for 0.1%... Don't have enough money for the 0.1% to make enough difference in interest so not going to bother!!

MadMat

Yeah, unless someone offers a 3%+ instant access account in the next couple of weeks I think I'll be leaving my standing order in place and sticking with Virgin for the next tax year.

Mat

amiehall

I'm keeping mine but I've decided not to make any new payments in for the time being. I think I will save in regular savers and chuck it into an ISA next March unless rates pick up before then.

Any

amiehall wrote: »

I'm keeping mine but I've decided not to make any new payments in for the time being. I think I will save in regular savers and chuck it into an ISA next March unless rates pick up before then.

I managed to snap the 8% First Direct regular saver before it got withdrawn. I think they have 6% on offer now.