Top Cash ISAs Discussion Area

Eponym

I rang up today (my Santander 3.3% rate ended today) and they redesignated to the 2.5% rate over the phone. I also gave them the details for the partial transfer I want to make from Halifax. It took about 10 minutes.

Halifax even text me to say they'd had the transfer request and were putting it through, so I'm quite impressed so far.

Last year my ISA transfer was a complete mess so I'm hoping they don't screw it up this time! It took months to sort out last year.

emjaycee

I took out the Barclays cash ISA last month and paid in the maximum limit for 12/13 tax year. The rate for under £30k is 2.1%.

Would that remain going into 13/14 tax year?

When do we know what banks are offering for the next tax year?

I'm confused as to what to do going forward??

innovate

emjaycee wrote: »

I took out the Barclays cash ISA last month and paid in the maximum limit for 12/13 tax year. The rate for under £30k is 2.1%.

Would that remain going into 13/14 tax year?

When do we know what banks are offering for the next tax year?

I'm confused as to what to do going forward??

You ned to check your ISA T&Cs - if it says the rate is variable, they can change it anytime. If it's fixed, it will detail for how long. 2.1% for £30K sounds mean.

Best ISA rates are in post 1 of this thread: https://forums.moneysavingexpert.com/discussion/401374

I doubt very much there will be any massive offers next week or the week after - - probably all we will see is already out there.

AndyJ52

plunt wrote: »

no sure if its been mentioned but cheshire has dropped their cash isa from 2.5% to 2.3%.

2.3% ISA Saver with the Cheshire is an Issue 2. Seems to be yet more evidence that rates are only heading south for the foreseeable future!!!! Ugh!

ceejayblue

Rang my bank First Direct today (turns out its 23 years ago today I became a customer!!!) to ask about their ISA rates. As I have around £38K in my NW ISA which reduces to 2.3% in the new tax year I want somewhere to put that money and the new allowance for 2013/14. They have assured me that the tiered rates will not alter for the foreseeable future so I will be transferring my money as soon as possible after 6 April and include my new money for a rate of 3% on £40K+

Eponym

Eponym wrote: »

I rang up today (my Santander 3.3% rate ended today) and they redesignated to the 2.5% rate over the phone. I also gave them the details for the partial transfer I want to make from Halifax. It took about 10 minutes.

Halifax even text me to say they'd had the transfer request and were putting it through, so I'm quite impressed so far.

Last year my ISA transfer was a complete mess so I'm hoping they don't screw it up this time! It took months to sort out last year.

Well well! My online banking shows the partial transfer has taken place at Halifax's end; it hasn't shown up at Santander yet.

If this is the shape of things to come with ISA transfers, me likey!

savinghard4family

Having trouble with my sums and could do with some help please!

I have about £19k in my current ISA. My 3.1% deal runs out on 31 Oct 2013 and will then drop to a pathetic 1%.

I can't work out if it is worth leaving the money in this ISA and paying in next year's allowance too, or if I should transfer the lot to one of the best deals currently available that will get me through the next tax year at a lower % (eg. 2.25%). I guess a third option is to just start a new ISA for next year's savings and leave the £19k where it is.

Any advice gratefully received!

Cheers.

Eponym

You could also wait until your current deal expires and transfer to whatever's the top rate in October/November. It's likely to be lower than you can get now, but it might work out for the best, who knows?

gunmaker

savinghard4family wrote: »

Having trouble with my sums and could do with some help please!

I have about £19k in my current ISA. My 3.1% deal runs out on 31 Oct 2013 and will then drop to a pathetic 1%.

I can't work out if it is worth leaving the money in this ISA and paying in next year's allowance too, or if I should transfer the lot to one of the best deals currently available that will get me through the next tax year at a lower % (eg. 2.25%). I guess a third option is to just start a new ISA for next year's savings and leave the £19k where it is.

Any advice gratefully received!

Cheers.

Assuming you want an easy access ISA, I would think the best thing to do, from a purely financial point of view, would be to open a Santander ISA on 6th April 2013 @ 2.5% for 2013/2014(minimum deposit £2,500) then transfer your current ISA into it on Oct 31st. The Santander ISA allows transfers in.

Stockwell2013

Hello

I just opened a Santander 123 Current Account after it was recommended on MSE for the 3% rate (which I'm earning currently). Not sure if the tax on my interest will make it worthwhile to use my ISA allowance this year though, as top ISA rate I qualify for is only 2.5%, but tax-free interest might make this worth more.

Any suggestions?

Cheers,

Ben.