Top Cash ISAs Discussion Area

bullinn1

Thanks 'Innovate' you're right, it was only a passing thought, I guess I just needed confirmation that I was being a t*t ... Roger

badger09

rogertb wrote: »

is this a totally stupid idea ? I have £30k in a Santander cash isa, coming to the end of it's 'bonus' period and am wondering what to do with the cash, if Santander have a new deal I'll transfer to it, maybe, but then I thought ... I'll put it all into premium bonds and take a chance, this though loses my ISA allowance status, ie if I withdraw it all I can't go back ... is this a very foolish thing to do ?

Madness :eek:

Unless you need to spend the £30k in say the next 12 months.

In that case, you'll be losing the accumulated tax free benefits anyway, and you might, just might get lucky

SallySunshine

Just been on First Direct website looking at Cash Isas

20k+ 2.20%aer 2.18% tax free

40k+. 3%aer 2.96% tax free


This is the current rate so obviously may change in April
Do you need to have an account with them to open/transfer?

10_66

SallySunshine wrote: »

Just been on First Direct website looking at Cash Isas...

...Do you need to have an account with them to open/transfer?

You need to have a 1st Account (their current account) with them in order to apply for their Cash ISA.

SallySunshine

Thanks 10_66, I thought that may be the case but couldn't find that info on their website.

I'll have a biggish sum in ISA' maturing in early April, trouble is we are on holiday just about that time.
Worst comes to worse it'll just have to sit in their easy access ISA until I get back, if they don't come up with a decent offer for a fixed one, unless I can sort it out before we go.

Racheyrach

Hi Folks

I'm unsure! Can anyone help? I opened an ISA in October with Sainsbury's who have written to tell me that their rate is dropping on 16th March to 2%. Can I apply to transfer this ISA today to the Cheshire BS or do I have to wait until 6th April? Any assistance is most gratefully received!

Cheers.

le_loup

You can do it whenever you like provided it is not a fixed term ISA.
Don't forget to get the new provider to do the transfer.

Krinkle

Can I ask a question...and forgive me if it sounds stupid! Say I took an ISA out last year on the 10th April and it was a fixed rate one, if I took a new one out now that accepted transfers would it be possible for them to transfer from the fixed rate one AFTER the 12 months were up, ie on or after the 10th April this year? If so, would it count towards next year's allocation?

...I can't remember exactly when I took the ISA out but I know I haven't used up any of the 2012/2013 ISA allocation as that was a transfer from Halifax!

innovate

Yes, you can request a transfer after maturity.
No, transfers won't count towards your annual allowance.

kidmugsy

Krinkle wrote: »

Say I took an ISA out last year on the 10th April and it was a fixed rate one, if I took a new one out now that accepted transfers would it be possible for them to transfer from the fixed rate one AFTER the 12 months were up, ie on or after the 10th April this year?

Yes but be sure to stay on the ball. Lots of providers play the rather dirty trick of rolling over an old fixed-rate ISA into a new one with only a short interval available for you to take alternative action. Be on your guard. Open your post and deal with it!