Top Cash ISAs Discussion Area

madkid88

I want to transfer money into my icesave isa account today,can i still do it before the end of financial year.How long does it take to transfer from my natwest account to the icesave account.thanks:rolleyes:

lisyloo

I want to transfer money into my icesave isa account today,can i still do it before the end of financial year.

Depends, probably not.

How long does it take to transfer from my natwest account to the icesave account

If you are using BACS then it takes a minimum of 3 working days usually but it does depend on where they hold their deposit account.

I am with Ruffler and their account to pay into is with Nat West.
As I'm a Nat West customer then I can transfer money between Nat West accounts instantly.

But mostly it's going to take 3-4 working days.

JimmyTheWig

owen-b wrote: »

My understanding is that when I open a new ISA (3), or continue to pay into my existing one (2) in the new financial year, I have a set limit you can pay into it in that year. This year it's £3000, next year it will be £3600. After I've paid that much in, I can't put any more in. The amount I have left available to pay in is calculated by subtracting what I've paid from £3000 (or £3600), NOT including the interest it has already accrued.

All right so far?

Yes, that's right.

So, what's the deal with transferring ISAs, which I've seen talk of? Does that mean I can open a new ISA (3) with the best bank for the next year, but also transfer the contents of my existing ISAs (1 and 2) to new banks with better rates without affecting the amount I can pay into ISA 3?

Yes, that's right. The ISA limit is only for new money. (So make sure you _transfer_ the ISA rather than withdrawing the cash and re-depositing it.)

Is this considered a good thing to do or is it easier to just leave my other ISAs where they are?

It's obviously easier to leave them where they are as that requires no work on your part. It's probably better to transfer them to the best paying account as you'd earn more interest. (The only reason I say probably is that you should check for fees / charges to do so.)

Is opening a NEW Barclays ISA recommended again this forthcoming year for the good interest rate,

Don't see why not, especially if you're prepared to transfer it if the rate is no longer the best.

and what is recommended to do with a Barclays ISA that I already have, the interest rate on which is set to drop by 1% as per the small print now that the first year is up?

If you can get a better rate then why not transfer it?

10_66

owen-b wrote: »

Is opening a NEW Barclays ISA recommended again this forthcoming year for the good interest rate..

If you have £3,600 and don't want access to it within 12 months, B&B have a 1 year fixed rate ISA @ 6.25%.

jabbag

Hi can i open an Cash ISA on line today as i have not used my allowance for 07/08
:j

donhas

10_66 wrote: »

If you have £3,600 and don't want access to it within 12 months, B&B have a 1 year fixed rate ISA @ 6.25%.

I wouldn't give Barclays my money, they were a pain in the !!!! at my local branch Whitehaven. We went to open two new cash ISA's with £3000 each but they insisted we had to have a meeting with the financial advisor and that it would take (waste) about 1 hour (of my valuable time). So I said you obviously don't want £6000, walked out and we invested the money online with Alliance and Leicester with no problem at a rate of 6.25%.
I will not be using Barclays ever again for anything. Stuff them!!!:p

Crabman

jabbag wrote: »

Hi can i open an Cash ISA on line today as i have not used my allowance for 07/08
:j

I'd get down to Barclays/wherever you're looking to subscribe to the ISA and hand the money over there and then as opposed to doing it online.

Saturday 5th April is the last day to use the 2007/08 allowance so you need to make sure you deposit the money today. An electronic transfer would not go through till next week.

Also check with the provider that it isn't too late as they sometimes have their own internal deadlines. Let us know how it goes

froggy_girl128

Hello

I have 3k in a hsbc ISA and have opened a new ISA with A&L can i put £3600 in the A&L ISA and leave the 3k in the HSBC one?

thanks

Toastie

froggy_girl128 wrote: »

Hello

I have 3k in a hsbc ISA and have opened a new ISA with A&L can i put £3600 in the A&L ISA and leave the 3k in the HSBC one?

thanks

Yes you can aslong as you do not add to another ISA.

So if you put £100 in A&L then you can't put ANY in HSBC and vice versa.

catlou

Hi all

this may seem like an obvious/stupid question..........but can't seem to get my head round it at the mo!!

Is it best to have interest paid annually or monthly on a mini cash isa?