Santander Cash ISA 2014

Clever_with_finance

You can open the 123 2yr fix USA and fund with £5760 this year now transfer Halifax isa then fund with £5940 after 6th April 14 but before 11th may 14

drlabman

Clever_with_finance wrote: »

You can open the 123 2yr fix USA and fund with £5760 this year now transfer Halifax isa then fund with £5940 after 6th April 14 but before 11th may 14

Thanks. Mind me asking where you got that info?

Archi_Bald

Probably another Santander employee.

Just wait until Monday, when the T&Cs get published. You can't apply for the 2 year ISA with the 2.3% before Monday anyway, so it is not smart to apply now because you would probably get the 1.8% one.

Clever_with_finance

Archi bald I think from info on the forum and the newspapers it would be advisable to open Monday at 2.30 not now at 1.8 but thanks for sharing that great input

macman

bobbydubs wrote: »

Am I missing the point here? I have a Santander123 current account which pays 3.00% (2.4% after tax) on balances over £3000, so why would I want to settle for anything less? I'm not a higher rate tax earner. Or is the 3.00% likely to be withdrawn?

Because if you switch existing ISA funds into an S123 a/c then you would lose their tax-free status forever.

anotheruser

Yeah but the tax free status is nominal when looking at the whole picture.

Say you have £5000 in your ISA.
Say you have £10,000 in your 123 account.

It would be a lot better to pool that money together in the 123 account than earn less in it's own ISA account.
The "tax free" is a waste unless you have £20,000+ to save, which many people don't.

macman

Many people will have several years of ISA savings, if interest rates start to creep up in the next year then it would be wise not jeopardise the tax free status of such savings. You might not be a higher taxpayer at present, but you might be in a few years time.

20vt-rs

Santander's new ISA's are on their web site now, the 2.3% for 123 customers is a 2-year fix. 2.0% 2 year fix for non Santander customers...


http://www.santander.co.uk/csgs/Satellite?c=Page&canal=CABBEYCOM&cid=1237908323140&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateT2

frizziekizzie

I'm pretty disappointed with the interest rate for the Direct ISA Saver. I currently have 2.5% interest with that account (which I've held with Santander for many years). As appealing as the 123 ISA is, I can't lock my money away for 2 years as I never know when I might need it. Hopefully someone else will come up with a higher rate...

neil324

frizziekizzie wrote: »

I'm pretty disappointed with the interest rate for the Direct ISA Saver. I currently have 2.5% interest with that account (which I've held with Santander for many years). As appealing as the 123 ISA is, I can't lock my money away for 2 years as I never know when I might need it. Hopefully someone else will come up with a higher rate...

Can't see it myself. I also need instant access. I have the Leeds Bonus ISA maturing next month. My other Cheshire ISA is closed for transfers I think.

Might have to pull the Leeds money into a normal account the way things are looking.