Coventry ISA maturity options - disappointing - move to virgin ?

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  • tiger70
    tiger70 Posts: 50 Forumite
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    edited 5 November 2023 at 1:09PM
    My other bank's rate is lower than the Kent Isa.
  • Albermarle
    Albermarle Posts: 21,929 Forumite
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    gele said:
    tiger70 said:
    Am I right in thinking any money I transfer from my Coventry to Kent is classed as 'old money' and does not count towards this tax years allowance , I've already used this years allowance in another ISA with a different bank .
    Yes that's right. That's the situation I'm in. Does the 'different bank' allow transfers in as you could still pay Coventry into that if the rate is better? Like I was considering with Shawbrook.
    @gele
    Suggest you read through this ISA forum and the main savings forum, for a lot of recent comments about Shawbrook problems.
    @tiger70 There are numerous threads on the forum about ISA transfers, so probably worth a read through.
  • gele
    gele Posts: 274 Forumite
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    Yes Albermarle I had seen them. I mentioned it in the previous post that those comments were putting me off. And Virgin too has had negative comments in the past too but if doing a 1 yr fix I'll probably go with them as I have a current account with them. I'm hoping to hear from others on the other banks/ building societies i mentioned earlier to help me decide. 
  • tiger70
    tiger70 Posts: 50 Forumite
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    Just done the transfer from Coventry to Kent Reliance 5.66%, the transfer will be done when the Isa matures at the end of November.  All straight forward, no problem .
  • gele
    gele Posts: 274 Forumite
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    edited 5 November 2023 at 1:43PM
    That's great, Rightly or wrongly I'll probably wait a week but I will definitely be moving it. Im assuming you stated maturity date of 30.11 to Kent and they take it from there?
  • tiger70
    tiger70 Posts: 50 Forumite
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    gele said:
    That's great, Rightly or wrongly I'll probably wait a week but I will definitely be moving it. Im assuming you stated maturity date of 30.11 to Kent and they take it from there?
    Yes, Kent do everything from their end .  They sent me an email with my User identification number, so I can log in and see my account. The transfer will be done at the end of the month .
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