Top Cash ISAs Discussion Area

DNA_628

I'm currently put my cash ISA with a M&S Money for many years. I've seen lots of higher rates cash ISA accounts on MSE and I was looking at the Natwest or RBS last week but after today news I noticed MSE has removed Natwest and RBS from The Best ISAs website.

Shall I still stay with M&S for the time being until the maket settled or shall I go ahead to move my money now to the Post Office or HSBC cash ISA instead of Natwest or RBS.

I also have some save with Egg. Are they save to leave my saving with Egg? Egg is part of Citigroup.

Please give me some advice....

Many Thanks :beer:

hildegaard

I picked up a leaflet yesterday for the post office ISA- it doesn't mention anything about the Bank of Ireland, unlike their savings leaflet. It is a company called Family Investments - does anyone know anymore?
Thanks

Baldur

The Post Office Cash ISA deposits are covered by the Bank of Ireland - see http://www.postoffice.co.uk/portal/po/content1?catId=82300737&mediaId=82300741#51300279

Their Investment ISA is more likely to be related to Family Investments.

<Edit>

Family Investments is the trading name of Family Investment Management Limited (Co. No. 1915516) and Family Equity Plan Limited (Co. No. 2208249), which are authorised and regulated by the Financial Services Authority. Registered in England and Wales at 16-17 West Street, Brighton, East Sussex BN1 2RL.

lucemate

JimmyTheWig wrote: »

Thirdly, I don't quite understand your point about what to do next year. Why not just put the remaining £1400 into an ISA next year? Why would you need to combine it with your Egg ISA money from last year (if that's what you are suggesting)?

Fourthly, I might now contradict everything I have said in paragraphs 2 and 3!
Are you currently paying income tax? I'm guessing that at 17 and planning to go to Uni you're studying A-levels and probably not earning that much.
Are you likely to be paying income tax before you need the money? Again, I'm guessing probably not if it is for Uni.


But for someone who is not paying income tax and won't hold the savings when they do start to pay income tax, neither of the two benefits above are valid.
So I'd be tempted to say go for the highest interest rate you can get, be it an ISA or a savings account. If you know you won't need the money for a year then you can usually get a better rate with a one year fixed deal.

Thank you for your advice. Yes i was saying that i would combine my egg money with the rest of the money that i can't put in my new isa account, just so its all together rather than eventually having three isa accounts?
I don't pay income tax, i earn around £180 a month and that's cash in hand so i guess if i keep my job after i turn 18 i won't pay income tax? But its fairly likely that i will change jobs after i turn 18 (next may) because i work two weekend days at the moment and when i'm old enough i'll be able to go out more often!! So i'd say it was likely that i'll pay income tax next May/ June.
I was looking at the one year fixed deal with AA, which is kind of random but it's like 7.5% and i think there's a bonus as well. I literally won't need any of it until next year or more because i'm going to get a student loan, so i may not even use it until the end of uni (5 years from now).
At the moment i'm tempted by the AA deal (?)

Baldur

lucemate wrote: »

At the moment i'm tempted by the AA deal (?)

You've missed the AA 7.21% Fixed Rate which was withdrawn on 7th October - the rate is now 6.3% http://www.theaa.com/savings/year_fixed.html

verloren

I'm currently waiting for the money from 4 ISAs to come out of icesave, and as it looks like it will be here pretty soon I'm wondering where to put it. I have an offset mortgage with an effective rate of around 6.3%, and as this seems to match/beat any ISA rates at the moment I was thinking of putting it there. Is there any reason why I'd want to move the money into another ISA at the moment, even if it isn't quite as good a return as my offset?

kirstvc

Hi people,
I'm new to this and I'm afraid I don't know much about money or savings...on the advice of my building society I opened a cash Isa last year 2007/2008. I have seen on this site I can get a much better rate so I am considering transferring it. If I do this will it use my allowance for this year 2008/2009 or is my allowance still available? (I Hope this makes sense.) thanks

Baldur

kirstvc wrote: »

...on the advice of my building society I opened a cash Isa last year 2007/2008. I have seen on this site I can get a much better rate so I am considering transferring it. If I do this will it use my allowance for this year 2008/2009 or is my allowance still available?

Pick a new provider, complete their Cash ISA transfer form and they will organise the transfer - this will not affect the current tax year's £3,600 Cash ISA allowance, which can be paid into the same (or any other) Cash ISA.

theowl_2

Egg have just dropped their ISA rate to 4.55% variable. Not very competitive anymore. A&L at 5.5% a better option for like for like, though that includes a 1% bonus.

MickKnipfler

Where is the best deal at the moment? I went with the Post Office a few weeks ago and now their rate has dropped. My GF now wants to invest her £3600. The best rate I have found is 5.71% at ncbs but for how long?