Don't forget TSB Plus Interest and eligible amount going down on 4 Jan 2017

baldeagle09

Santander is still handy as a base for recycling Regular Savers and assorted lump sum ISA's which have reached the end of their term. By my reckoning any savings I have are earning just over 2%. Once it finally exhausts itself, I will transfer to another current a/c which are paying lump sums for converting to them.
Any other savings have been lumped into AVC contributios

[Deleted User]

baldeagle09 wrote: »

Santander is still handy as a base for recycling Regular Savers and assorted lump sum ISA's which have reached the end of their term. By my reckoning any savings I have are earning just over 2%. Once it finally exhausts itself, I will transfer to another current a/c which are paying lump sums for converting to them.
Any other savings have been lumped into AVC contributios

If you move your ISA cash into your Santander 123 account, you will lose the tax free status of the ISA money. Not advisable to use your Santander 123 as a base to recycle maturing lump sum ISAs.

Zanderman

Deleted_User wrote: »

If you move your ISA cash into your Santander 123 account, you will lose the tax free status of the ISA money. Not advisable to use your Santander 123 as a base to recycle maturing lump sum ISAs.

It depends entirely on circumstance - and may be perfect advice for some.

Cash from an ISA that is earning low interest will be better off in a 123 if the person concerned hasn't got plans to fill another ISA at the moment.

Up to £15K can be put in an ISA in any year, so that sum can be put back in an ISA at any time, unless the allowance is already filled.

And even if the allowance is filled it may still get better interest, even if tax has to be paid, in a 123 account. Keeping ISA cash in an ISA in principle isn't advisable if the ISA interest rate is laughably low.

Frogletina

Zanderman wrote: »

It depends entirely on circumstance - and may be perfect advice for some.

Cash from an ISA that is earning low interest will be better off in a 123 if the person concerned hasn't got plans to fill another ISA at the moment.

Up to £15K can be put in an ISA in any year, so that sum can be put back in an ISA at any time, unless the allowance is already filled.

And even if the allowance is filled it may still get better interest, even if tax has to be paid, in a 123 account. Keeping ISA cash in an ISA in principle isn't advisable if the ISA interest rate is laughably low.

I have the maximum (this year's allowance) in a cash ISA earning 1.1%. I could top up my Santander with some of that money - but the difference is minimal as I am over the £1000 interest level so I have to pay tax on the balance of the interest. Depending on how much my Santander dips will be the deciding factor if I were to move money from my Isa - I am £600 under £20,000 now.

Each month I need £2910 to put into my monthly savers. In January one will mature and give me £3000 plus interest, and in February another will mature and give me £2400. After that the next one is not until June. I earn between 2% and 5% on those.

My income is not big enough to use any of it for savings, so my money is just moving around to ensure I get the best interest rates.

When I first opened the 2% regular savers, the interest seemed almost too low to bother with but now I am glad to have them. I am likely to need the money from the ISA at some point in the year, so I will ensure that I have the maximum in there at the end of the tax year, and add more next year even if I withdraw it after that - to maintain its tax free status.

frogletina

katejo

djpailo wrote: »

3% is still quite good. I forgot that it will be only up to £1500 though.

My monthly saver just matured, got ~£92

Mine should get the same then. It was the full £3000 and matures in January

katejo

Zanderman wrote: »

It depends entirely on circumstance - and may be perfect advice for some.

Cash from an ISA that is earning low interest will be better off in a 123 if the person concerned hasn't got plans to fill another ISA at the moment.

Up to £15K can be put in an ISA in any year, so that sum can be put back in an ISA at any time, unless the allowance is already filled.

And even if the allowance is filled it may still get better interest, even if tax has to be paid, in a 123 account. Keeping ISA cash in an ISA in principle isn't advisable if the ISA interest rate is laughably low.

Surely also because we are now not being taxed on the first £1000 of interest on savings accounts anyway (£500 for higher rate tax payers)? My interest will get nowhere near that.

veryintrigued

Westie983 wrote: »

This changes on 1st February, so first £3 will be on the 2nd working day of March, backdated to the 1st.

I'd edit your error if I were you.

teddysmum

Jeems wrote: »

Contactless spend ending for me too! Do transactions have to be posted to your account before 31st Dec for it to count? Eg if I spend something today but it doesnt appear on my statement until Jan 1st, will it count? I have around £40 of contactless spend left!

It's the date of the actual spend that counts.


I was told this when asking about a spend, on the last day of a month, not listed on the account until the following Monday, with the Monday's date. (Info needed to see how much contactless cashback was available).

keiran

Also remember that if you have a Co-op everyday rewards account, you can now start using its debit card for 5p cashback per transaction ( up to £1.50 per month) instead

Kernel_Sanders

Zanderman wrote: »

Up to £15K can be put in an ISA in any year, so that sum can be put back in an ISA at any time, unless the allowance is already filled.

My understanding is that the capital can be returned to the ISA in addition to any already-filled annual allowance. For example, I will have accumulated £15240 in my Nottingham BS ISA for 2016-17, but by 5 April I will have returned £6000 'borrowed' from a Nationwide ISA to feed regular savers over the last few months.

Frogletina wrote: »

I have opened two Virgin regular savers .... which will give me 2.25%.

Do they allow 2 x sole accounts?