5K - Where do I put it?

superleeds27

I've got 5k left to put into an ISA for this year (Currently have 15 in Marcus)

Debating whether or not to look at a fixed rate (4.32 Hodge Bank) or would it be better to still go with the variable (Trading 212/Plum at 4.98)

I know it's a gamble and it's the classic crystal ball scenario.

What would others do/suggest here?

mebu60

Assuming it's the Marcus EA Cash ISA at 4.01% and given Trading 212 / Plum accept transfers-in, why is the £15k still in Marcus?

You hedge your bets going with a fix but at the quoted differential I'd probably take the EA currently and ride it out as long as possible. 

clairec666

Trading 212 might be a good option, assuming you are entitled for a newbie bonus. They have recently announced that their interest rate will track 0.15% below the base rate, and you'll have a 0.98% bonus on top of that for a year. So even if there are a couple of 0.25% base rate drops in the coming months, you'll still be getting more than the fixed rate one. And even if the base rate drops further, you'll probably still win out on average over the year.

Recommending Trading 212 over Plum for various reasons - Plum's T&Cs can be a bit finickity, plus Trading 212 is flexible so you can withdraw and replace the money if you need to.

superleeds27

mebu60 said:

Assuming it's the Marcus EA Cash ISA at 4.01% and given Trading 212 / Plum accept transfers-in, why is the £15k still in Marcus?

You hedge your bets going with a fix but at the quoted differential I'd probably take the EA currently and ride it out as long as possible. 

Although it looks like with Trading 212 transfers in don't get the full rate of 4.98%

Beddie

Not worth fixing for that small amount, go variable would be my suggestion.

superleeds27

Beddie said:

Not worth fixing for that small amount, go variable would be my suggestion.

Might look at shifting everything to Moneybox while it's 4.65 Vs the 4.01 at Marcus.

Edit: In the process of setting up with Moneybox, they've asked for ID etc before they can confirm and create the account. 

superleeds27

Still waiting for the additional ID check to be done at Moneybox.

superleeds27

Account sorted, transfer in initiated. Fingers crossed.

Thanks for all the help people

Will update

superleeds27

Transferred in this morning.

VNX

superleeds27 said:

Still waiting for the additional ID check to be done at Moneybox.

Interesting 

what additional checks did they need?

superleeds27

VNX said:

superleeds27 said:

Still waiting for the additional ID check to be done at Moneybox.

Interesting 

what additional checks did they need?

Was just some form of ID - Driving licence/Passport etc