Top Cash ISAs Discussion Area

hippyjak

I have £3000 in Halifax ISA from last years allowance. I now have 3600.00 to invest in an isa this year - is it best to put it in the Halifax or open a Barclays Golden ISA?

Lokolo

What Halifax one is it? I suspect its easy access ISA so the rate will be poor, so the Barclays one would give you more return but their rate will reduce over the year.

When can you put this £3,600 in?

opinions4u

hippyjak wrote: »

I have £3000 in Halifax ISA from last years allowance. I now have 3600.00 to invest in an isa this year - is it best to put it in the Halifax or open a Barclays Golden ISA?

Assuming you have an ISA Saver (0.1%) or ISA Saver Direct (0.5%) I think you need to review the whole position.

I like their ISA Saver Direct Reward (3% fixed for a year with 4 withdrawals) and you can phone 08457 26 36 46 to change your existing ISA over to this (keeping the same roll number).

You can then top it up with your £3,600.

The Barclays alternative is a variable rate product. Looks good, but what do you think the rate will be in 3 or 4 months?

As Halifax have moved from ISA Saver to ISA Saver Direct to ISA Saver Direct Reward, I really can't wait for them to launch the ISA Saver Direct Reward Plus Reward in the Autumn for the over 50s.

rb10

opinions4u wrote: »

I like their ISA Saver Direct Reward (3% fixed for a year with 4 withdrawals) and you can phone 08457 26 36 46 to change your existing ISA over to this (keeping the same roll number).

But you need to do this by 6pm Saturday (it's instant, so it only takes a moment).

(You can save the cost of the phone call here)

hippyjak

Thanks for the replies - it's the Halifax ISA saver direct (3% fixed for a year with 4 withdrawals) that I currently have. I will need to wait for a cheque to clear for me to have access to my £3600.00. so could I still add to my ISA after Saturdays deadline as I already have an account open?

hippyjak

Lokolo wrote: »

What Halifax one is it? I suspect its easy access ISA so the rate will be poor, so the Barclays one would give you more return but their rate will reduce over the year.

When can you put this £3,600 in?

It's part of an inheritance and Im just waiting for the cheque to clear - probably by 5th June

rb10

hippyjak wrote: »

Thanks for the replies - it's the Halifax ISA saver direct (3% fixed for a year with 4 withdrawals) that I currently have. I will need to wait for a cheque to clear for me to have access to my £3600.00. so could I still add to my ISA after Saturdays deadline as I already have an account open?

You can put money in at any time, and all the money that you put in will earn 3% interest until one year after you first funded the account.

Saturday's deadline is only for opening the accounts, there is no deadline for funding them.

Lokolo

There you go then just shove it in there. I didn't think you had the reward ISA which is why I asked when you could put the money in (as rb10 says, new accounts have to be opened by Sat).

So you're all ok don't worry!

hippyjak

Thanks loads for the advice! It's all very confusing!! Any ideas on what to do with the rest? approx £35,000.00?

Baldur

The rest of what? Previous tax years' ISA funds or just general funds that you want to save/invest?

You don't say if you need immediate access or are able to tie the funds up for a time.

Some more details may help someone to help you.