Most easy use and high rate 1 year fix rate ISA

financehelp23

Hi, I only see Shawbrook Bank - 4.32% and Virgin Money -4.31%. 
Anyone knows any better rate, or will come the new rate? 
Also  how is transfer out Shawbrook Bank ? Do they do electric transfer? 
I tried to apply virgin but it is very hard to open with their onloien system, could not login and once open, you can not even access the fund. Have to write to them by post to withdraw in any situation. 
Anyone have a good recommendation? Thanks 

refluxer

Shawbrook currently pay the highest rate for a 1-year fixed rate cash ISA - you can see a handy list of the top 5 accounts here.

I've have a few accounts with Shawbrook (including ISAs) and haven't had any problems. They do use the (electronic) BACs ISA transfer service and a recent transfer into Shawbrook from another provider for me took 2.5 days which is the quickest transfer I have seen to date. Obviously for this system to work well though, both providers have to subscribe to it.

There have been many threads and comments on here by people frustrated by Virgin Money and their ISA products (for various reasons) so of the two, I would personally choose Shawbrook.

Have you recently opened a Virgin Money Cash ISA and paid money into it ?

financehelp23

refluxer said:

Shawbrook currently pay the highest rate for a 1-year fixed rate cash ISA - you can see a handy list of the top 5 accounts here.

I've have a few accounts with Shawbrook (including ISAs) and haven't had any problems. They do use the (electronic) BACs ISA transfer service and a recent transfer into Shawbrook from another provider for me took 2.5 days which is the quickest transfer I have seen to date. Obviously for this system to work well though, both providers have to subscribe to it.

There have been many threads and comments on here by people frustrated by Virgin Money and their ISA products (for various reasons) so of the two, I would personally choose Shawbrook.

Have you recently opened a Virgin Money Cash ISA and paid money into it ?

Thanks, this is super helpful! Yes, they even give you the option for monthly or annual interest. They just have a penalty of 90 days VM is 60 days. Do you know the expire date of the Shawbrook 1-year fixed ISA account? VM returned the money back as they said deposited after 30 days they do not count it and will not affect my subscription allowance.  

refluxer

financehelp23 said:

Thanks, this is super helpful! Yes, they even give you the option for monthly or annual interest. They just have a penalty of 90 days VM is 60 days.  

Yes, one potential benefit of using Virgin for a fixed rate cash ISA is the low penalty - it's 90 days for a 1 year fixed rate ISA with most other providers.

financehelp23 said:

Do you know the expire date of the Shawbrook 1-year fixed ISA account?  

When you say expiry date, are you asking how long the current 1 year fixed rate account will be offered for ? There's no way of knowing but banks like Shawbrook do review their rates regularly and will either change their rates or withdraw their accounts completely if they get the funding they're after. This can happen with some providers when they're offering the highest rate available.

Fixed rates have been creeping up recently, but it's hard to say whether they have topped out for now.

financehelp23 said:
VM returned the money back as they said deposited after 30 days they do not count it and will not affect my subscription allowance.  

That's good.