Top Cash ISAs Discussion Area

Melodyx

I'm booked in to see someone at my local Barclays to set up the Tax Haven ISA but just a bit concerned to note that it's a 'variable' rate. With all the talk about the credit crunch, perhaps Barclays will just reduce the rate? It's still a bit of a gamble going for one with a variable rate what with not having a crystal ball to know which banks will reduce their rates next tax year.

It also seems that it's possible to transfer in any case if Barclays go down this road - does anyone know how long you'd have to leave the money in before you can transfer? If not, I'll ask them when I go.

Crabman

Hi Melodyx - there's no minimum period with the Barclays so if the rate does drop you'd be able to transfer to a more competitive provider

Melodyx

Thanks, Crabman, and Barclays doesn't charge a fee to switch?

Crabman

That's right - there are no fees/penalties for withdrawls/transfers out.

You've probably already seen from the article that there's a 1% bonus for 12 months, so after a year you'll need to transfer out to a provider which pays better interest.

Melodyx

That's great - thanks very much!

dhitchmough

Opening a Premier Current Account with Alliance & Leicester gives access to their Cash ISA (Issue 2), which gives 10% till 1st June 2009. Sounds to good to be true. Any comments? http://www.alliance-leicester.co.uk/savings/index.asp?page=prem-isa&ct=premierhome06

Crabman

dhitchmough wrote: »

Opening a Premier Current Account with Alliance & Leicester gives access to their Cash ISA (Issue 2), which gives 10% till 1st June 2009. Sounds to good to be true. Any comments? http://www.alliance-leicester.co.uk/savings/index.asp?page=prem-isa&ct=premierhome06

You'll need to pay in a certain amount into that current account each month - it's actually one of Martin's best-buy current accounts - take a look at the Best Bank Accounts article to see if it would suit you

crispeater

bristolleedsfan wrote: »

:T ive thanked dave a second time on your behalf. :beer:

thats very kind of you

Sarahcat

Hi Crabman,

Just to let you know that I received my paperwork from A&L today-only took 6 days and Easter was in there too!

They make transferring present ISA very easy by sending an almost completed transfer form to which I have added the necessary details, signed and posted straight on to ING Direct.

May I just add that I also thought about leaving my money in ING and opening the Barclays ISA with the £3600 in April. But after a few sums with my figures I actually make an extra £7 by consolidating in A&L.
Okay I know it's not much but I know it's the best deal for me-till May 09 of course!!

Now on to sort out the gas/electricity costings;)
Thanks for all advice. S.:T

NikkyWikky

Hi All,

just a quick question. I got an ISA account of 9K (which includes my tax allowance fot the current year) at Kent. I'm transferring this across to Alliance and Leicester. On the 5th of April I can put in another 3600. I've seen Barclays are offering 6.5%. Now my question is where shud I put the 3600 on April 5th. should i put it into Alliance and Leicester or open a Barclays ISA and put the 3600 in there? My financial knowledge is not up to scracth but have been advice to keep the money together as the compound interest will result in more interest then 0.25% difference. Any ideas or explainations on this?

Thanks in advance.

Nik