Top Cash ISAs Discussion Area

trinidadone

Hey all, I thought I would open a question to Money Savers.

I currently have a Abbey ISA (6%) and a A&L ISA (6%). both accounts are from previous years. I have been sorting out my finances lately, closing credit card accounts, old bank accounts etc, you know, sping clean and all.

I was thinking of transferring one of the ISA accounts to annother.Both seem to offer only variable rates, should I transferr or leave alone ncase one of the rates from each account drops?

I notice from the previous message, Newcastle building society is offering 6.50, but not sure if previous years can be deposited.

Anyway, dont want to ramble on, anyone got any advise or knowledge, let me know, cheers in advance

giger

Hi all

Is there an easy way to find out the best provider to transfer all of my previous years ISAs to? I notice some offer good rates for 'new money' only and don't allow transfers. I have 5 years worth of ISAs (inc. this financial year) that I have with IF that I would like to transfer into a better paying account. Is there a central place I can look at to tell me if transfers are allowed?

trinidadone

giger wrote: »

Hi all

Is there an easy way to find out the best provider to transfer all of my previous years ISAs to? I notice some offer good rates for 'new money' only and don't allow transfers. I have 5 years worth of ISAs (inc. this financial year) that I have with IF that I would like to transfer into a better paying account. Is there a central place I can look at to tell me if transfers are allowed?

Hey giger,

no one has responded to us, i guess they are all running around saving money. Thought I let you know I have made enquires with Newcastle building society 6.60%. the account locks your money away until august 2009,(or give sixy days notice/lose 60 days interest) which suits me because i dont need access.

Cstomer service said they will also accept previous years. Currently I am getting 6%, so the rate sounds attractive, especially as its also fixed.


I am not an expert, but this sounds like a good account for me !!

giger

Cheers Lee, strange how some threads can go so quiet!

I have since discovered the Principality e-ISA so may explore this but will also follow up the one you have mentioned.

juliarm

I;ve got one cash isa. But not put any money into it this year. In order to organise my savings I want a second cash isa. Are you allowed 2 isas?

JimmyTheWig

juliarm wrote: »

I;ve got one cash isa. But not put any money into it this year. In order to organise my savings I want a second cash isa. Are you allowed 2 isas?

I believe the rule is that you are not allowed to pay money into more than one cash ISA in a year.
So while I believe you are allowed to have two open, in reality this is of no use to you.

Either you need to sacrifice the benefits of an ISA and keep the smaller of your savings pots in an interest attracting account, or you need to put the whole lot into the one account and keep track of the pots on paper / spreadsheet, etc.

Obviously if you are married then your spouse can have one as well as you.

trinidadone

giger wrote: »

Cheers Lee, strange how some threads can go so quiet!

I have since discovered the Principality e-ISA so may explore this but will also follow up the one you have mentioned.

hey no worries. A little concerned you are going to get the e-isa at Principalty. Abbey and A&L are 6%

In recards to Newcastle building society, they have now closed there 6.6% ISA to new customers. If you were lucky enough to get one, you need to deposit/transfer by friday 4th july

ih8stress

I'm looking at getting an ISA to invest the full amount of £3,200.
Can someone please advise me on whether fixed or variable would be best in the present economic climate.

Also is moneysupermarket the site to find the best rate?

Any advice would be greatly appreciated, thanks

JimmyTheWig

ih8stress wrote: »

I'm looking at getting an ISA to invest the full amount of £3,200.

Note that the full amount now is £3,600.

Can someone please advise me on whether fixed or variable would be best in the present economic climate.

It really depends on your outlook. Do you think rates are going to go up or down?

Also is moneysupermarket the site to find the best rate?

Note that sometimes commercial sites only detail providers that give them a return. For this reason I'd use the articles on MoneySavingExpert rather than something like moneysupermarket.

ih8stress

Have decided to go with a variable ISA for the time being at least.

Can anyone advise which one(s) are the best to consider?

I have tried to follow various threads and understand that Barclays and Abbey are best to avoid (too much hassle setting them up) but that is as far as I have got.

I'm currently trying to find out about the A & L at 6% and the Principality Fixed Rate ISA at 6.39%.

Any advice would be really appreciated.