Top Cash ISAs Discussion Area

10_66

Yep, each company has different dates from when you start to earn interest, but generally it's a day or two after opening the account.

udydudy

greengrass wrote: »

Hi Guys,
Can anybody suggest the best fixed isa, I have 1000 to invest and want to leave it there for at least 5-6 years.

Fixed rates for 4-5 yrs are good with halifax and leeds
http://www.leedsbuildingsociety.co.uk/savings/5year_escalator_isa.html

udydudy

Leeds have launched a new 5 yr escalating ISA with average rate of 6% over the 5 year term.
http://www.leedsbuildingsociety.co.uk/savings/5year_escalator_isa.html

Cliff_Derek

You recommend the Barclays cash isa as a good deal. Existing account holders with Barclays need to be aware of a problem. If you apply on line they will ask which account they can transfer money from to set up the isa. We replied our current account, which pays only 0.1% interest, and transferred money to the current account. 10 days later the funds are still sitting in our current account and Barclays say it could be three weeks before they set up the ISA. So funds moved from our e savings account are earning 0.1% for up to three weeks whilst Barclays take their time. We have been told they will back date the interest to the date of application, but as the current account is interest bearing, at only 0.1%, we doubt this.

It would probably have been better to open the account at a branch with a cheque. Or go somewhere else. Losing three or more weeks interest outweighs any benefit from their higher rate.

katies_mum

I`m a little confused please can you help.
We have existing cash ISA`s which we are going to transfer to ones paying better interest. My question is - if we make a deposit in the existing ones now before we have opened the new ones are we still able to transfer the whole balance to the new one and are we still able to add to the new one? or do we have to wait until we have actually tranferred to start putting money in for this tax year? (I`ve got some cheques here and just want to start earling something on them whilst the new account gets sorted)
Many thanks

Baldur

If your new ISA permits inward transfers and new money you would generally be able to pay new money (i.e. from this year's allowance) in and complete the transfer form(s) for the previous years' funds at the same time - without knowing the terms & conditions of your new ISA it's impossible to offer more specific advice.

katies_mum

WSe are currently with Britannia and hoping to move to Alliance and Leicester, unless anyone can suggest a better one. I`be got some cheques her for £500+ and wanted to bank them so was hoping to put them into Britannia, open the A & L account then do a transfer - if this is allowed and I have already started to use up some of this years allowance would I still have the remainder of the allowance with A & L. Sorry if I am being confusing.

Baldur

Personally, to be safe and reduce the possibility of confusion at this busy time of the ISA season, I would pay the new money straight into the A&L to open the new ISA and complete the transfer forms at the same time.

(the above assumes that you have an A&L branch nearby, as I do, so that it could be done tomorrow or as soon as possible AND that you have not already paid any new money into the Britannia ISA since 6th April)

katies_mum

Was going to do it online - never thought about a local branch. Would I be able to open account for hubby (we both have A & L bank accounts) I appreciate he will have to sign the form but would they be able to open it and send the form to him?
Thanks for your help and advice

Baldur

katies_mum wrote: »

Was going to do it online - never thought about a local branch. Would I be able to open account for hubby (we both have A & L bank accounts) I appreciate he will have to sign the form but would they be able to open it and send the form to him?

I suspect not, ISAs are Individual Savings Accounts - they certainly won't be able to open the account for your husband before they receive his signed ISA application form.