Top Cash ISAs

simoncorkswill1

savit4l8er said:

simoncorkswill1 said:

Can you put 20k into a stocks and shares ISA and another 20k into a cash ISA in the same tax year ? Or is it just 20k in total in one tax year ? Thanks in advance .

No, £20K is the total new money you can put into them in the same tax year whatever the split.

savit4l8er said:

simoncorkswill1 said:

Can you put 20k into a stocks and shares ISA and another 20k into a cash ISA in the same tax year ? Or is it just 20k in total in one tax year ? Thanks in advance .

No, £20K is the total new money you can put into them in the same tax year whatever the split.

Thanks for reply , I didn’t believe they were that generous , was hoping though ! 

SteveGSXR600K1

Has anyone tried to open the '1-Year Flexible Cash ISA' @4.0% as a new customer? The MSE and Barclay's both say that new customers can open the account by visiting a branch. I went to the Norwich branch today and they wouldn't open one in branch and said I had to open it from the online banking. I said that you cannot do that as I haven't got an account. They then said I'd have to open a current account (don't wish to), this would then allow me to register for online banking, and then I could open the ISA. Absolutely nuts! Very disappointed to have made a wasted trip. Think I'll go and see Virgin Money.....

eskbanker

SteveGSXR600K1 said:

Has anyone tried to open the '1-Year Flexible Cash ISA' @4.0% as a new customer? The MSE and Barclay's both say that new customers can open the account by visiting a branch. I went to the Norwich branch today and they wouldn't open one in branch and said I had to open it from the online banking. I said that you cannot do that as I haven't got an account. They then said I'd have to open a current account (don't wish to), this would then allow me to register for online banking, and then I could open the ISA. Absolutely nuts! Very disappointed to have made a wasted trip. Think I'll go and see Virgin Money.....

Yes, there have been multiple posters who anticipated being able to walk into branch and open an account on the spot, whereas Barclays expect this activity to be by appointment only.

saver2000

eskbanker said:

SteveGSXR600K1 said:

Has anyone tried to open the '1-Year Flexible Cash ISA' @4.0% as a new customer? The MSE and Barclay's both say that new customers can open the account by visiting a branch. I went to the Norwich branch today and they wouldn't open one in branch and said I had to open it from the online banking. I said that you cannot do that as I haven't got an account. They then said I'd have to open a current account (don't wish to), this would then allow me to register for online banking, and then I could open the ISA. Absolutely nuts! Very disappointed to have made a wasted trip. Think I'll go and see Virgin Money.....

Yes, there have been multiple posters who anticipated being able to walk into branch and open an account on the spot, whereas Barclays expect this activity to be by appointment only.

At the top of the page it says "If you don't yet bank with us or prefer to talk, give us a call on 0345 744 5445 1 or visit a branch." which sounds like they kinda want you to open an account, but at the bottom it says:

New to Barclays?

You can apply in branch with proof of ID and your address.

That seems to suggest to me you can open without a current account just that it needs some ID.

I had a help to buy isa with barclays in the past and I remember making an appointment to open it and also had to make an appointment to close it (which was in the pandemic which turned out to be a nightmare)

Yempted to book an appointment at my local branch and mention that I want to open the account but don't want a current account, maybe make a note of the web link to show them.
I can't see anything in the terms and conditions that say you must have a current account, maybe the staff just aren't that clued up on how to do it?

vanessa1977

Hello
I currently have a 2 year fixed isa with Virgin for 2.36% (until June 2024). I am trying to calculate whether it is worth losing the 90 day interest penalty in order to transfer to the 4.11% 2 year fix currently on offer, or if I should wait to see if rates continue to increase? I calculated the 90d interest amount by multiplying capital x 0.0236 to determine the yearly interest and then divided by 365 and multiplied by 90 - is this correct?
TIA

changearound1

vanessa1977 said:

Hello
I currently have a 2 year fixed isa with Virgin for 2.36% (until June 2024). I am trying to calculate whether it is worth losing the 90 day interest penalty in order to transfer to the 4.11% 2 year fix currently on offer, or if I should wait to see if rates continue to increase? I calculated the 90d interest amount by multiplying capital x 0.0236 to determine the yearly interest and then divided by 365 and multiplied by 90 - is this correct?
TIA

Correct.

Oleg9370

I am planning to open 1 year flexible cash ISA, Barclays. I don’t plan to withdraw interest during the year. 

Will I be able to withdraw everything after 1 year (money deposited and interest) ?

tastyfish

An important few notes MSE should make clear about Fixed Rate Cash ISAs - hopefully fellow savers can benefit from this:

1. check how long you can make deposits for - mine was first 30 days.
2. check the rates of the accounts your provider will place your money in once it matures (they'll write to you a month in advance). For two reasons:

• first, they'll offer a 'bog-standard savings account with poor rates, but
• secondly, they may give you an option of another 1yr fixed ISA. And here the rate can be pretty good.

My provider, Virgin Money, is currently offering me a 4.75%AER 1yr Fixed on maturity. Currently, the highest 1yr Fixed ISA rates on MSE is 4.72% (OakNorth). And usually it's easier to switch to another product with the same provider.

So, definitely worth checking your existing provider's rates!

tastyfish

Oleg9370 said:

I am planning to open 1 year flexible cash ISA, Barclays. I don’t plan to withdraw interest during the year. 

Will I be able to withdraw everything after 1 year (money deposited and interest) ?

Your provider will write to you a month beforehand with options of what to do. Mine offered a regular savings (0.3%) or another 1yr Fixed ISA (4.75%). I'd pick the ISA if it's an option because you can still withdraw your money or transfer it to another ISA at any time. You will most likely be penalised on interest in either case - check their terms, mine was 60 days.

I opted for monthly interest as these are deposited into your account. Annual interest is paid annually. The monthly interest works out the same as the AER (it's roughly slightly less than the AER/12 as you'll get interest on interest, eg 4.75%AER is actually equivalent to interest of about 4.65%/12).

Size67

Cash ISA - Im about to put 19k into fixed rate  cash ISA, my question is when next April comes around can i put another 19k into the same isa or must i open a new one ? im looking to lock the money away for circa 5 years