Top Cash ISAs Discussion Area

purplestar133

Thanks Baldur, that was very clear!

maximus0983

Hi all,

Im new to this ISA business. Ive got myself a decent job now (well two jobs) and want to start an ISA that I dont need to touch. Any idea on the top rate that I can get - and if possible any cashback via Quidco et al...

thanks for any advice

JimmyTheWig

Have never heard of any ISAs that give cashback, but I'm not an expert on cashback sites, so you never know...
As for the top rates available, why not read the article.

10_66

maximus0983 wrote: »

Hi all,

Im new to this ISA business. Ive got myself a decent job now (well two jobs) and want to start an ISA that I dont need to touch. Any idea on the top rate that I can get - and if possible any cashback via Quidco et al...

thanks for any advice

You need to decide whether you want a fixed rate cash ISA or not. Attached are some links to help you with best rates available for cash ISAs.

http://forums.moneysavingexpert.com/showthread.html?t=401374

http://www.moneyfacts.co.uk/savings/bestbuys/default.aspx

http://www.moneysupermarket.com/Savings/Default.asp?p=0

Desperate_Housewife_2-2

hi, I am looking at the first direst cash isa fixed at 7% and wondered if anyone has any experience of this that they can share with me, many thanks

magpiesaver

I would advise against the Abey direct ISA. Their previous issue started this time last year at 6.25% and has gradually dropped to 3.10% (this is for amounts over £10,000). They did not inform me personally of any of the rate drops, and the current rates are tucked away in an obscure corner of the website under "legacy products"). I would have done better to leave my money in, say, my smile ISA at a steady 5%. I am trying to transfer my money out of Abbey but it's a slow business (and why would they hurry, as they're only paying me 3.1%?). I have complained to ABbey but tehy have not yet responded.
So don't use Abbey unless you're prepared for a big drop in interest rates once they've got your money.

daveonline

Magpiesaver - I think you are looking at the direct saver savings account, the direct ISA issue 1 is showing as follows -

Direct ISA (Issue I)
Tier
Tax-free rate p.a. /AER
£9,000 +5.00%£ 1 +4.75%
Rates may vary and are effective from 1 May 2008

Yes, you can get better rates so it pays to keep an eye on the interest your ISAs pay.

ukcia-shug

I was planning on putting this years money into Barclays new ISA, but they dont accept transfers in from previous years. As my older ISA's rates are falling I want to move them to something better and it cant be Barclays so I was going to put them into A&L but I wouldn't add any new money to that, only to the Barclays one.

I know that I am only allowed 1 cash isa per year, but I was wondering if it is OK to do this or does it count as 2 in the same year.

Thanks

10_66

You can open a Barclays Tax Haven with this year's contribution (up to £3,600), and you are also permitted to transfer your existing ISAs from previous years to another provider who permits transfers in. You will need to arrange the transfer through the new provider by completing their transfer in form, which you return to them. They will then arrange for the funds from your existing ISA provider to be transferred in.

ukcia-shug

10_66 wrote: »

You can open a Barclays Tax Haven with this year's contribution (up to £3,600), and you are also permitted to transfer your existing ISAs from previous years to another provider who permits transfers in. You will need to arrange the transfer through the new provider by completing their transfer in form, which you return to them. They will then arrange for the funds from your existing ISA provider to be transferred in.

Excellent, thanks.