Top Cash ISAs Discussion Area

innovate

Seems to me you'd do better with an interest-paying current account, such as the Nationwide FlexDirect. You can still empty your balance next March into an ISA.

scubajon72

Interesting. Will look into it. Hadn't thought of that. Thanks. j

thenudeone

alpaca_jackie wrote: »

The Cheshire instant access ISA needs a cheque deposit. No good if you have a cheque less Cahoot account!

Presumably it's part of their identity checking process.

Just transfer the money from cahoot to your current account then write a cheque.

typistretired

How times have changed why do I feel delighted that the Coventry BS have offered me a fixed rate of 2.50% on an old ISA for one year. Last year I would have expected nearer 4%.

scubajon72

Have looked a loads of accounts like Cash Isa's etc. and all of them say "until October 2014" What is happening in Oct. 2014 and should we know about it? The Flex Direct account is no use to me, I don't intend to put £1000 a month into it. As per my post above, £100 a month and 2 withdrawals a year 6 months apart is my plan. but thanks for the thought innovate. Any other ideas? You will guess from this I'm not very familiar with the money markets!

leaphaze

scubajon72 wrote: »

The Flex Direct account is no use to me, I don't intend to put £1000 a month into it. As per my post above, £100 a month and 2 withdrawals a year 6 months apart is my plan. but thanks for the thought innovate.

You don't have to pay in £1000 in one go. The requirement is a total of £1000 per month. So you could make several transfers over a period of time building up to £1000 per month. With fastpay the transfers can be pretty much instant (check your existing a/c has fastpay).

So, for instance, if you had £250 available on a certain day, you could transfer it back and forth several times, building up your pay-in total.

I have a Santander a/c, and two Halifax Reward a/c's; all with minimum pay-in requirements. One day a month, I sit down for 10 mins and get my money hammering round the internet, for which Halifax pays me £10 per month (thank you).

It will require a bit of organisation and a little effort on your part, but it can be done.

daffie

I just want to let off a bit of Santander steam! I had an ISA with them earning over 3% but the rate was due to drop last month. I went in a couple of weeks earlier to switch to their newest best rate of 2.8% as I was going to be away when the old ISA finished. However, the woman in the shop said I'd be better off waiting till after I got back as I'd lose a couple of weeks of the extra half a percent. So I did...
When I went back to switch, they told me the 2.8% ISA was no longer available and the best they could offer was 2% (unless I opened a current account; no way! Not after last time...!) So yeah, I didn't lose two weeks of half a percent interest- I lost at least a year's worth! ( I tookmy funds off to the 2.3% Cheshire ISA instead.)
And yes, I did make my feelings known in the branch. My own fault I guess, but I still feel I was misled.

opaque

Silly question.
If I transferred my Santander ISA's from previous years to say Cheshire does that actually close down my account with Santander or does that leave an empty account with them?

badger09

opaque wrote: »

Silly question.
If I transferred my Santander ISA's from previous years to say Cheshire does that actually close down my account with Santander or does that leave an empty account with them?

If you arrange for the whole balance to be transferred out, the empty account will be closed by Santander.

Consumerist

opaque wrote: »

Silly question.
If I transferred my Santander ISA's from previous years to say Cheshire does that actually close down my account with Santander or does that leave an empty account with them?

ISA accounts will be closed on transfer as badger09 has said.

If it was a savings account it would probably left indefinitely until the account could be declared "dormant" so they can charge you monthly for the privilege of not using it.