Santander isa or esaver/current ac

matty17r

Thought I would transfer my santander isa tomorrow to earn 2.5 per cent only to learn it is being withdrawn and being reduced to 2 per cent So my question is would it be wise to take out money from my previous years isas and put into my esaver currently earning 3.3per cent but drops in middle june and also top up my c/a to 20000? I am a non tax payer and will probably be so until I retire in 9 years time. Any advice really appreciated as not sure what to do.

Hominu

Why not open the ISA account tonight and transfer tomorrow?

psychic_teabag

I think the best strategy really depends on how much money you're talking about, what other accounts you already have, you would do with the money after June, etc.

I believe you can open multiple 123 accounts - with a balance of £20k, the monthly fee is equivelant to only a drop of the order of 0.2%

grizzly1911

How much is in the ISA?

Are you happy to lose the accumulated benefits under the ISA wrapper.?

FWIW I have opened a 123 account and filled it from non ISA money.

If you pay council tax, energy bills, water rates through it by DDR it will more than cover the monthly fee. Don't forget the £500 monthly credit required.

If you have a 123 account (easy to open online in a couple of days, may do it by phone) they are still showing a 123 ISA for 3%/2years so you could split the balance.