Top Cash ISAs Discussion Area

pezz18

Hello, i am totally new to this and just have a question which has probably been asked 100s of times... anyway...

i have openend a cash isa account today and placed the full £3600 limit into it... am i allowed to open another account in say may (after the new tax year) or do i have to wait a full 12 months until i am able to create a new cash isa?

thanks alot
Andrew

KingL

Hi Andrew
The new tax year starts on 6th April. You can open another one then.

leaphaze

heathrow wrote: »

In the article, Martin says that the NatWest e-ISA doesn't allow transfers in.

This doesn't seem to be the case (now) - the natwest website at
http://www.natwest.com/personal/savings/g2/isas/e-isa.ashx#tabs=section1

includes the followng:

Transfer your other ISAs to NatWest – it’s simple to transfer your cash ISAs from other providers or from NatWest, into an e-ISA. Just complete a Cash ISA transfer form (PDF file 92kb). and take it your local branch or post it to Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ

Yes, NatWest do allow you to transfer-in, I'm in the middle of one myself. Took the documents to my local branch on 02/12/08, and nothing's happened since then! According to NatWest helpline, ISA transfers are always slow at this of year!

As it happens I'm not too worried since last week I withdrew most of the balance from the old provider to reduce my mortgage.

coopstar23

I just put in a £100-£200 a month into my HSBC mini cash ISA. Is there a better way to save this amount? I need to dip into now and again.

bluegrey

coopstar23 wrote: »

I just put in a £100-£200 a month into my HSBC mini cash ISA. Is there a better way to save this amount? I need to dip into now and again.

if you dip into the funds put in an ISA you cannot "top them back up" again once you have withdrawn them. (Max deposit per tax year is £3600)

JimmyTheWig

bluegrey wrote: »

if you dip into the funds put in an ISA you cannot "top them back up" again once you have withdrawn them. (Max deposit per tax year is £3600)

Worth pointing out for other people doing something similar, but in this case it shouldn't matter.
If they're only putting in £200 max a month then they shouldn't be near the annual limit...

Damienbove

I have a question, I went into barclays for a cash isa, I was quoted 3.09%, but when the paperwork has come through its only 2.61 AER (ummmm not good selling), now I know you can only have one ISA a year, as I have yet to pay anything how do I go about switching? before I open a new one do I have to notify barclays and waite for an official close or do I pay into this and then transfer the lot to another provider, or can I just go ahead and open another, whilst waiting for barclays to close this one?

joolsbfd

FireworkCrazy wrote: »

Just so you know, on a slightly different note, Lloyds are offering 7% on one of their CURRENT accounts if you keep between 5k and 7k in the account and put in more than 1k a month.

rang up today (15th Feb) and it's down to 3.14% ...

Bigmalc0

Hi, I'm 68 and have £12000 in a Halifax cash isa, I've heard the rate is going down to 1%.

Is it better for me to leave it there or where is the best place for me to invest it for 3 years?

Thanks

Lokolo

Halifax have some decent fixed rates at the moment. Go into branch and ask to transfer it over to one of them. But it means tieing the money up for X period (and assuming you can, as you said, leave it for 3 years)