Use old ISA at good rate a good option??

lynbroome

I've had ISAs for the last four years with Barclays. This year they are offering 2.10% for an easy access cash ISA. One of my old ISAs with them is still paying 2.25% - do the 'Forumites' think would it be a good idea to just put my 2013-14 allowance into this old one - bringing up the total saved in there and saving the hassle of starting a new account elsewhere for a mere 0.3% or so extra? :cool:

techno12

Barclays have disappointed me this year. The past few years they've been close to (or top of) the best buy tables, and as I bank with them it's a simple 1 minute process to open the latest one.

Having said that, I've opened one this year too, at 2.1% but will transfer it to my First Direct one soon as that's 2.2% (every little helps!).

I know I can get 2.5% or whatever, but First Direct were good to me in the past (ie maintaining the rate for several years rather than it plummetting - they'd send me a letter saying "as you're a loyal customer we're retaining the bonus rate blah blah") so I'll stick with them for now.

I prefer the simple life, so if Barclays are allowing you to put new money in at 2.25% then I'd go with that. I'm now wondering why I didn't do the same but it never occurred to me that old "1 year issue n" type ISAs would allow further subscriptions in new tax years (I got a letter the other week reiterating the plummet in rate, and I don't recall it saying you could put new cash in, but I'm probably mistaken).

The good thing is, if an amazing 3% deal turns up later in the year you can always switch, and I will too...