ISA rate cut, what to do?

Albermarle

have you heard anything from Nationwide yet, they normally make contact to check the transfer is genuine.
Perhaps Easter will delay things.

I only did it on Thursday afternoon , so nothing heard yet, unsurprisingly .

soulsaver

Aldermore have the top 1.3% (variable) 30 day notice account, too if you'd like more accessibility. 

Ljc80_2

Ah ok. So i could open with Aldermore, put my historic ISA money into it, then open another to use with my 2020-21 allowance?

Albermarle

Ljc80_2 said:

Ah ok. So i could open with Aldermore, put my historic ISA money into it, then open another to use with my 2020-21 allowance?

Yes .

Ljc80_2

The Kent Reliance site states that you can keep topping up so it is just like a normal ISA so that looks like the one for me.
It just has a higher penalty than the others for withdrawals, 180 days interest. 

kuratowski

Personally I kept my cash ISA in Nationwide but switched product to the limited access 1% product.  It's not the best possible rate, but for me the rate is adequate to deter me from changing providers (chasing round the market to a new provider every year is not something I enjoy doing).

DiggerUK

@Ljc80-2, 
it seems you like to seek advice, but not to take a decision. I have returned to your thread from 2017, to which I entered my words of wisdom.

Clearing the mortgage was a sound recommendation in 2017, it's even wiser advice now..._

Tharweb

Those opening the Kent Reliance ISA's. I'm transferring my Nationwide Loyalty ISA, do I have to deposit £1000 as well as transferring? It states you have to make an initial deposit within 7 days, but if I transferred the money, the switch wouldn't go through in this time?

Deposit details
You must deposit the full minimum opening deposit amount within 7 days of your application being approved. You can fund your account by debit card (if we are able to successfully verify your identity electronically) or by sending your deposit electronically by bank transfer.
If your deposit is less than the minimum opening amount, it may be returned to your originating bank account, delaying the opening of your new account.
You can also fund your account by transferring an existing ISA from another provider. This request can be made during this application or within 30 days of your account being opened.

New_York_No1_fan

Tharweb said:

Those opening the Kent Reliance ISA's. I'm transferring my Nationwide Loyalty ISA, do I have to deposit £1000 as well as transferring? It states you have to make an initial deposit within 7 days, but if I transferred the money, the switch wouldn't go through in this time?

Deposit details
You must deposit the full minimum opening deposit amount within 7 days of your application being approved. You can fund your account by debit card (if we are able to successfully verify your identity electronically) or by sending your deposit electronically by bank transfer.
If your deposit is less than the minimum opening amount, it may be returned to your originating bank account, delaying the opening of your new account.
You can also fund your account by transferring an existing ISA from another provider. This request can be made during this application or within 30 days of your account being opened.

If you are opening the account by way of a transfer from another ISA provider then you will be fine to just complete application form and ISA transfer form. Once the account is open you have 7 days to pay in new money. You do not have to pay any new money into the account if you only want to transfer an existing isa.
Isa transfers take on average 15 working days to complete. I have done this countless times without an issue.

Kent Reliance have always been superb, extremely polite and helpful.

Ljc80_2

DiggerUK said:

@Ljc80-2, 
it seems you like to seek advice, but not to take a decision. I have returned to your thread from 2017, to which I entered my words of wisdom.

Clearing the mortgage was a sound recommendation in 2017, it's even wiser advice now..._

Thanks for your suggestions, previously and now. 
Why do you suggest i don't like to make a decision?
I think i'm going to go for the Kent Reliance option.
Can i ask why you would clear the mortgage when more can be earned through interest in a safe, no risk ISA?