Top Cash ISAs Discussion Area

poppy10_2

sdooley wrote: »

The HSBC cash e-ISA is now available to all, not just HSBC current account customers.

Not really:

You'll need to have an HSBC Current Account to open our Cash e-ISA. If you're not already a customer, you can open an HSBC Current Account online now.

Merrylegs

Help! Monthly payments made for child benefit paid directly into Halifax ISA (set up 4 years ago). Can I open a new ISA and top up to unused limit, or must I contact relevant government department and transfer payment of child benefit to new ISA provider.

JimmyTheWig

Merrylegs wrote: »

Help! Monthly payments made for child benefit paid directly into Halifax ISA (set up 4 years ago). Can I open a new ISA and top up to unused limit, or must I contact relevant government department and transfer payment of child benefit to new ISA provider.

You can only pay (new) money in to one ISA in any one financial year.

So I don't think you can do either.

I think you will need to do the switch next April.
Might be easiest to change the child benefit to come into a non-ISA account from, say, February then change it again to go to your new ISA once it is set up after April. That way you can ensure that the payments go into the right ISA account before or after the tax year end.

Merrylegs

Hi JimmyTheWig, I'm new on here and have only just found your response! Thanks so much. I'm not really sure of my way round on here but really grateful to have tracked down your advice. Thank you !!!!

JimmyTheWig

Merrylegs wrote: »

Thanks so much.

No problem!

I'm not really sure of my way round on here

I always start at the User Control Panel, accessed from the "User CP" link within the Forum, or else just use this link: http://forums.moneysavingexpert.com/usercp.html
That will take you to all threads that you are subscribed to (which should mean all threads that you have posted in).

footboy

Hi there,

I've just opened an HSBC e-cash ISA as a current account customer.

I have deposited the full £3600 into the ISA.

I have answered Yes to have my interest paid into the ISA. Is that sensible or should I have it put into my Kaupthing Edge (high interest instant access savings) account?

I wasn't sure if I would get interest on the interest or not in the ISA. This may be something to add to the CASH ISA web page - where to keep the interest.

I will be dipping in and taking money out through the year if that makes a difference.

Many thanks! :A

footboy

Originally Posted by sdooley
The HSBC cash e-ISA is now available to all, not just HSBC current account customers.
Not really:

Quote:
You'll need to have an HSBC Current Account to open our Cash e-ISA. If you're not already a customer, you can open an HSBC Current Account online now.

BUT there are better current savings accounts so get a better Current Account than hsbc and get the top ISA Martin has identified (currently from Barclays) to make the most of your money.

Jake'sGran

footboy wrote: »

Hi there,

.

I will be dipping in and taking money out through the year if that makes a difference.

Many thanks! :A

If you take money out you can't put it back into the ISA. The ISA advantage is lost.

jem16

footboy wrote: »

Hi there,

I've just opened an HSBC e-cash ISA as a current account customer.

I have deposited the full £3600 into the ISA.

I have answered Yes to have my interest paid into the ISA. Is that sensible or should I have it put into my Kaupthing Edge (high interest instant access savings) account?

Leave it in the ISA is sensible as it's all tax-free.

I wasn't sure if I would get interest on the interest or not in the ISA. This may be something to add to the CASH ISA web page - where to keep the interest.

Yes you will.

jem16

Jake'sGran wrote: »

If you take money out you can't put it back into the ISA. The ISA advantage is lost.

Whilst it's true that you can't put the money back in, you are still getting the benefit of tax-free saving so it's better in an ISA than in a taxable savings account.