Top Cash ISAs Discussion Area

NMarkW

Just spoken to NatWest this morning about opening an e-ISA, and they told me that the e-savings account is no good as a linked savings account (as stated in the MSE article), it has to be either the First Reserve account or a current account.

Can anyone confirm this, who's gone through the process?

geet

I asked this same question in some other thread - forgot which - as I went Natwest online and there is nothing there that says it can't be an e-savings account. All that it says is you need an instant access account and e-savings is listed as one such account. But the MSE article says excluding e-savings and now looks like you have that confirmed over phone. Can someone who has gone through the process of transferring isa to natwest explain? Thanks.

webwiz

I got my Icesave cash ISA money refunded by he FSCS and put it in a non-ISA account. Later I received an ISA certificate valid to 5/4/2009 for reinvesting the cash in another cash ISA. My question is: Is this an ISA transfer or is it a new ISA investment? There are different forms for each.

leaphaze

webwiz wrote: »

I got my Icesave cash ISA money refunded by he FSCS and put it in a non-ISA account. Later I received an ISA certificate valid to 5/4/2009 for reinvesting the cash in another cash ISA. My question is: Is this an ISA transfer or is it a new ISA investment? There are different forms for each.

You need to treat this as an ISA transfer is it was previously invested in an ISA account. If you treat it as a new ISA investment then you'll be using up your ISA allowance for a second time but with the same money.

geet

don't know if this is the place to post this -

can my aunt who is unemployed and lives here as resident for the past few years start a mini cash isa - she has a bank account but no other number.

thanks in advance

rb10

She will need her National Insurance number.

DonQixote

Hi I am totally new to the forums, I just would like to ask when do I opend a cash ISA for the tax year 2009/2010 I am quite confused and would really apreciate any help

Thanks

Lokolo

6th April 2009

muffin_man

I've been looking for a fixed rate ISA to transfer my Icesave funds to now that the ISA deadline is approching.

I had been investigating 2yr fixed rates from Dunfermline or Derbyshire, both at 3.0%, although the Dunfermline one is more accurately 2 1/2 yr, as it matures in November 2011 instead of March/April. When I realised it was this long, I toyed with the idea of 3 yr instead and spotted a new Fixed Rate ISA (via MoneySupermarket) which isn't on the Top ISAs page yet .

The Manchester Building Society's Fixed Rate Cash ISA Issue 1 is a 3 year fixed rate ISA paying 3.31% which, importantly, allows transfers in (Martin's current top pick for this length is Nationwide's at 3.25%, but it doesn't allow transfers in). Even better, you can invest fuirther funds up to 30th April 2009, so if you have the money to invest, and rates still dont look likely to improve, you can always invest your 09/10 ISA allowance in there as well.

It also has one of the 'best' withdrawel penalties I've seen for bonds of this length, requiring 60 days' notice and the loss of 60 days' interest...better than the 180/120 days loss of interest on my previous candidates.

rb10

muffin_man wrote: »

It also has one of the 'best' withdrawel penalties I've seen for bonds of this length, requiring 60 days' notice and the loss of 60 days' interest...better than the 180/120 days loss of interest on my previous candidates.

Note though that it's 60 days' notice and loss of 60 days' interest. So if you close early, you still lose two months interest.

If you think you might need to close it early, you might be better off either going for a normal instant access one, or, even better, one with a fixed rate that allows penalty-free withdrawals.