B&B's eISA paying 6.05% is available again...

Kazza242

Bradford & Bingley have re-launched their popular eISA again. It is called eISA 2 and pays 6.05%. They also allow transfers in of existing mini cash ISAs.

The interest rate is guaranteed to at least match the Bank of England base rate until 30th June 2009.

The Bradford & Bingley eISA webpage.

This ISA has been added to the continually updated first post in the thread Mini Cash ISAs: The Best Currently Available List.

emphatiC_hanK

Kazza242 wrote: »

Bradford & Bingley have re-launched their popular eISA again. It is called eISA 2 and pays 6.05%. They also allow transfers in of existing mini cash ISAs.

The interest rate is guaranteed to at least match the Bank of England base rate until 30th June 2009.

The Bradford & Bingley eISA webpage.

This ISA has been added to the continually updated first post in the thread Mini Cash ISAs: The Best Currently Available List.

Is there any good reason why the original eISA was pulled, and they are now offering this all-new eISA 2 instead?

Are any of the T's & C's dramatically different? (I know for a fact that the interest rate is the same.)

Or is this just one of those excuses to sneakily start reducing the interest rate on the old account, and hope that none of us existing eISA 1 account holders notice the difference?

It just seems like rather an odd way to run a building society to me . . . (sorry - they're a bank now, aren't they? )

Froglet

I am looking to transfer previous years allowances as i cannot transfer in to the NSI.However the catch,as i have just found out,is that you have to open it first before you can transfer in,and i,like i suspect many already, have put this years allowance with NSI or similar good rate accounts.

tiptoe_mouse

I am looking to transfer previous years allowances as i cannot transfer in to the NSI.However the catch,as i have just found out,is that you have to open it first before you can transfer in,and i,like i suspect many already, have put this years allowance with NSI or similar good rate accounts.

No, you should be okay. Although it does say you need to open it with £1000, and also that you can transfer in other isas once it is open, thus implying that you have to open it with new money, this is not in fact the case AFAICS.

If you click on apply online, then click yes to say you have a cash isa for this year, then yes to say you want to transfer it, it tells you how the process will work.

tiptoe

Froglet

Thanks but it is not the Isa from this year i want to transfer,so it may not work,however i will have a go and see how i get on!!

What i really want is to transfer the old allowance into a fixed rate Isa account so it can earn some decent interest.

Does anyone know of such an account that you can do online? Can't be doing with post and phone accounts any more,it's like a backward step!.

tiptoe_mouse

Thanks but it is not the Isa from this year i want to transfer,so it may not work,however i will have a go and see how i get on!!

Oh, in that case, click yes to say you have a cash isa for this year, then no to say you don't want to transfer it. It then says:

I'm sorry, under Inland Revenue ISA guidelines, you are only able to subscribe to one mini cash ISA in the current tax year.

Whilst you can not subscribe to our eISA account before 6 April 2008, you do have the ability to transfer any mini cash ISA's held with other providers where the subscription was made before 6 April 2007. [my bolding]

If you wish to transfer an ISA where subscriptions were made before 6 April 2007 please click 'Continue' below.

So it looks like it should be okay.

tiptoe

tiptoe_mouse

What i really want is to transfer the old allowance into a fixed rate Isa account so it can earn some decent interest.

Does anyone know of such an account that you can do online? Can't be doing with post and phone accounts any more,it's like a backward step!.

Best bet is to check with each of the institutions in the first post of this thread whether they allow you to operate the account online.

Halifax seem to let you apply online for their fixed rate ISAs, and say that you will automatically be set up with online banking if you do so. Does anyone know of any others?

tiptoe

Froglet

Thanks tiptoe,the Halifax is a better rate and looks quite easy to set up.I may well go for the 2 year deal,especially as rates may be coming down soon.I will let you know how i get on.