Top Cash ISAs Discussion Area

Baldur

emma_jane1987 wrote: »

Do I still have time to open a cash ISA

Yes, until 5th April.

how long does it take?

How long is a piece of string? It depends on the institution - some are quicker than others.

I was thinking of either Barclays or Natwest as they have the best rates. I used to have a current account with Natwest but closed it and now only have a credit card would this help to make the set up more easily.

Your history with Natwest may make it slightly easier, as far as any ID requirements are concerned.

emma_jane1987

If i start to apply for an Isa tomorrow because it is before the 5th April will the money that i want to put in the 2008/2009 go in to that tax year or will it roll over to 2009/2010?

whu

If you apply tomorrow and pay in the money then it will count as this years allowance not next years

LucyTheDwarf

I have recently opened accounts with both Natwest and Barclays online - all set up very quickly - so you should have plenty of time to open an ISA for 2008/09 with either of these. I am on the electoral roll, so had no issues with having to provide additional ID.

natzini

Hi all
I have £1000 plus a small monthly amount which I'd like to put in an ISA. Anyone able to suggest where I can deposit this money for a good return?

leaphaze

tblzebra wrote: »

I had a cash ISA with YBS from a few years back & in Jan 09 got them to close it & switch all the cash into their eISA. I haven't deposited any other money in this, or in any other ISA this financial year.

Does this mean I can't open another ISA this year & deposit £3600 in as a lump sum - do I have to use the YBS eISA?

Was it an ISA transfer? If so this YBS eISA holds a previous year's allowance, and you can open another ISA for 08/09 with another provider.

However, if the original ISA was closed with the cash transfered to a non-ISA a/c before opening the eISA, the eISA holds the 08/09 allowance and any deposits before 06 Apr must go in there.

Baldur

natzini wrote: »

I have £1000 plus a small monthly amount which I'd like to put in an ISA. Anyone able to suggest where I can deposit this money for a good return?

See this post for Cash ISA 'best buys', also check the usual comparison sites:

http://www.moneysavingexpert.com/savings/best-cash-isa
http://www.moneyfacts.co.uk/money/savings/2/cash-isas.aspx
http://www.moneysupermarket.com/savings/
http://www.fsa.gov.uk/tables/bespoke/SavingsAccount

leaphaze

natzini wrote: »

Hi all
I have £1000 plus a small monthly amount which I'd like to put in an ISA. Anyone able to suggest where I can deposit this money for a good return?

Do you have an existing ISA? How long can you leave your money?

Assumming you haven't used this year's allowance, I'd quickly stuff as much as possible into a fixed interest ISA (halifax maybe) for 08/09, then put the small monthly amount into a 'regular' ISA for 09/10. This should maximise your return as long as you can leave it for at least a year.

This is the ideal time for this sort of approach but you'll need to move quickly before you lose your 08/09 allowance.

owitemisermusa

natzini wrote: »

Hi all
I have £1000 plus a small monthly amount which I'd like to put in an ISA. Anyone able to suggest where I can deposit this money for a good return?

What about First Direct e-ISA? Put in your £1000 and make monthly payments for a fixed rate of 3.10% AER for a year. No penalties for withdrawal AFAIK.

KTF

The First Direct one requires you to open one of their current accounts as well. Then if you dont fund it with £1500 a month, they charge you a fee as well.

Its a lot of hassle for an extra 0.1% imo.