Coventry ISA maturity options - disappointing - move to virgin ?

tiger70

My other bank's rate is lower than the Kent Isa.

Albermarle

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

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

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

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

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 .

pinkcosmos

gele said:

I'm now thinking Ill move to Virgin 1 yr at 5.85% as I have a current account with them. Was hoping for longer than 1 yr but the extra interest gained in first year should at least cover any lower interest I receive if, or rather when, on renewal in Nov 24 rates have dropped a little more. 

Do you remember how long the ISA transfer from Coventry to Virgin took?

gele

I didn't go to Virgin in the end. I stayed with Coventry on the 2 yr at 5.35% so sorry cant help there.

southone

pinkcosmos said:

gele said:

I'm now thinking Ill move to Virgin 1 yr at 5.85% as I have a current account with them. Was hoping for longer than 1 yr but the extra interest gained in first year should at least cover any lower interest I receive if, or rather when, on renewal in Nov 24 rates have dropped a little more. 

Do you remember how long the ISA transfer from Coventry to Virgin took?

I just transferred from Coventry to the Yorkshire Building Society it took six days to complete the transfer if that helps

Growingold

pinkcosmos said:

gele said:

I'm now thinking Ill move to Virgin 1 yr at 5.85% as I have a current account with them. Was hoping for longer than 1 yr but the extra interest gained in first year should at least cover any lower interest I receive if, or rather when, on renewal in Nov 24 rates have dropped a little more. 

Do you remember how long the ISA transfer from Coventry to Virgin took?

Virgin 1 yr is 5.05%  not 5.85%