Virgin Money E-ISA (ex Northern Rock ISA)

jeffc2121

Hello everybody,
We need some more help please. We have a Online E-ISA (E-Saver Issue 13). We have nearly £2000 in the ISA and have never withdrawn fancy money from the account. It says on the paperwork that if we do not withdraw we will receive 1.01% PA.
We are really unsure if we should be moving this money to a better rate with another company or even if we are able to or not? The money is savings for our daughter to receive if she ever needs it or will be passed to her if one or both of us start to feel it is time to pass it to her. We do have other savings so will not need to gain access to the money at short notice. We are in our mid 60’s

Our question/s have come about listening to Martin’s tv programme tonight! Any suggestions would be great fully received.

kind regards

Jeff

Aidanmc

jeffc2121 said:

Hello everybody,
We need some more help please. We have a Online E-ISA (E-Saver Issue 13). We have nearly £2000 in the ISA and have never withdrawn fancy money from the account. It says on the paperwork that if we do not withdraw we will receive 1.01% PA.
We are really unsure if we should be moving this money to a better rate with another company or even if we are able to or not? The money is savings for our daughter to receive if she ever needs it or will be passed to her if one or both of us start to feel it is time to pass it to her. We do have other savings so will not need to gain access to the money at short notice. We are in our mid 60’s

Our question/s have come about listening to Martin’s tv programme tonight! Any suggestions would be great fully received.

kind regards

Jeff

Don't withdraw from the ISA.

If you have a Virgin current you could open a Virgin Easy Access cash ISA exclusive which pays 2.25%.

You could then transfer the funds to the new ISA. You can arrange the transfer during the new account opening process.

Otherwise, Paragon have a triple access ISA paying 2.3% or Coventry BS Limited access 2.25%

Again, you can request transfer or existing ISA during opening process

jeffc2121

Hi,
Thank you for your reply and suggestions. I did have a look at the suggestions Martin has on his web site. He mentions an account with Virgin Money with a two year fixed amount of 4.36% and it allows a transfer in to the account.

Would this possibly be a good idea to do or not??

Jeff