(New) CMC Invest - Flexible Cash ISA - 4.85% (allows transfers)

SamDude

CMC website states that: From 10 September 2025, our interest rate will reduce to 3.95% AER.

That's a big drop of 0.64% from 4.59% (excluding any 3 month bonus).

No email notification about it (but I can't remember getting any direct notification for previous drops)

slinger2

SamDude said:

CMC website states that: From 10 September 2025, our interest rate will reduce to 3.95% AER.

That's a big drop of 0.64% from 4.59% (excluding any 3 month bonus).

No email notification about it (but I can't remember getting any direct notification for previous drops)

I've just had an email from them

SamDude

slinger2 said:

SamDude said:

CMC website states that: From 10 September 2025, our interest rate will reduce to 3.95% AER.

That's a big drop of 0.64% from 4.59% (excluding any 3 month bonus).

No email notification about it (but I can't remember getting any direct notification for previous drops)

I've just had an email from them

....and just as I posted an email came through 

Middle_of_the_Road

flaneurs_lobster said:

Long shot - one app is in your secure folder, the other isn't?

ETA Just tried this with my long-dormant CMC app - added a quid to my empty cash ISA from Natwest app.

Have to say that 4.59% is rather tempting, despite ooer-ing about QMMFs.

Rate reduction imminent 

MeteredOut

Received the same and just messaged CMC to stop the transfer from my Virgin ISA after it matures on 29/8.

lohr500

MeteredOut said:

Received the same and just messaged CMC to stop the transfer from my Virgin ISA after matures on 29/8.

Spooky. I just called them to do exactly the same thing!!! 

For the time being I'm going to stick with the default Virgin Easy Access Cash ISa Exclusive Issue 3 that the 1 year Virgin Fix moves to on the 29th.

Within a few minutes of my call to CMC, the transfer request was no longer showing on the CMC mobile App.
I had to hold for about 4 minutes before getting through to someone.

pecunianonolet

Many of us CMC ISA holders will be looking to transfer out with the upcoming rate cut so the question will be which providers will accept transfers in from CMC?

Perhaps those who already made transfers out could share providers and experinece as we may have to prepare for triangle transfers to get the funds to the destination of choice if the desired provider doesn't accept CMC transfers in. 

DodgerPot

pecunianonolet said:

Many of us CMC ISA holders will be looking to transfer out with the upcoming rate cut so the question will be which providers will accept transfers in from CMC?

Perhaps those who already made transfers out could share providers and experinece as we may have to prepare for triangle transfers to get the funds to the destination of choice if the desired provider doesn't accept CMC transfers in. 

I asked this very similar question in another thread but I had no responses. 

I’ll be looking as you are to transfer out of CMC Cash ISA and was hoping to hear from those who may have already made a transfer out. 

I had a conversation with Moneybox who confirmed that they would accept transfers in from CMC. 

slinger2

I've initiated a transfer to Paragon. However I've no idea whether it's going to work. It's all gone quiet.

lohr500

slinger2 said:

I've initiated a transfer to Paragon. However I've no idea whether it's going to work. It's all gone quiet.

I initiated a Transfer Out from CMC to Vida on the 26th August. Like you I have no idea what's going on as I have heard nothing from either party.

I sent Vida a secure message yesterday requesting confirmation that they had received the transfer request which formed part of the a/c opening process I completed on the 26th August. No response yet.

I'm hoping it all goes through before 10th September which is the date when the CMC Cash ISA rate drops.

EDIT : I decided to call Vida this morning and it turns out I should have completed a paper form to initiate the transfer as CMC are not part of the electronic ISA transfer system. I must have missed the requirement when opening the new Vida a/c.