Top Cash ISAs Discussion Area

Krinkle

Thanx for the responses

When I took it out last year...it was with Santander by the way...I'm pretty sure I only opened it with the transfer from Halifax... ...am I right in thinking therefore that I could open another one now with this current year's full allowance, request a transfer when the Santander matures and then be free to put next year's allowance in on april 6th/7th?

...or does the fact that I opened one and put a transfer in last year mean I can't open another one 'til April 6th??

le_loup

Read the reply to your previous post. And don't forget to thank innovate.

dragilex

Hi. What are the chances of some higher rate ISA's being introduced in March?

Krinkle

le_loup wrote: »

Read the reply to your previous post. And don't forget to thank innovate.

...I already have thanked him.

...what I'm trying to get at at is... ...I have a current ISA for the 2012/2013 year with Santander. Because I haven't actually put any of the 2012/2013 allocation into it does it still preclude me from opening a new one with someone else before the April 6th new tax year?

If not, I could open a new one with, say, Halifax now, put this year's full allocation into it, ask them to transfer the Santander one when it matures and still be eligible for the full amount of the 2013/2014 allowance...does this sound correct??

le_loup

If you haven't funded an ISA for this year, you CAN open another and put money into it for 2012/13.
Next year (from 6th April), you have a whole new allowance to do what you want with.
At ANY time you can transfer to another provider.

ridin8ude

yeah I'm expecting better deals towards the end of March. I remember alot coming online last year - and the best right now are nothing compared to the 4.25% Flexisa from Nationwide for 2012...

innovate

Just keep your expectations at a very low level. 2013 isn't 2012.

There is no way you will see 4.25% for an instant access ISA this year. Expect more like 2.25%, may be 2.5%, you will be a lot closer.

marathonic

It looks like most people intending to save into a Cash ISA in 2013 would be best opening one of the new Nationwide Accounts with a 5% rate (taxable) for balances of up to £2,500 for the first year. For a lower rate tax payer, this is the same as a 4% ISA.

Then, when the 2013/4 tax year is nearly over, withdraw the money and pop it in an ISA to get it into the sheltered wrapper for future years.

leaphaze

marathonic wrote: »

It looks like most people intending to save into a Cash ISA in 2013 would be best opening one of the new Nationwide Accounts with a 5% rate (taxable) for balances of up to £2,500 for the first year. For a lower rate tax payer, this is the same as a 4% ISA.

Then, when the 2013/4 tax year is nearly over, withdraw the money and pop it in an ISA to get it into the sheltered wrapper for future years.

Just to add some detail here: this is the FlexDirect bank account which pays 5.00% AER (4.89% gross p.a.) on in-credit balances up to £2,500 fixed for 12 months if you pay in at least £1,000 per month (there is no monthly fee).

What I'm not sure is whether you can have both a FlexAccount and FlexDirect bank account at the same time.

KTF

leaphaze wrote: »

What I'm not sure is whether you can have both a FlexAccount and FlexDirect bank account at the same time.

You can have both.