Chip ISA Transfers Out

larachantie

Just a heads up. Like many people, my Chip ISA promo is ending and the standard rate is uncompetitive.  The leading alternative that also gives a good rate for transfers in is currently Cynergy Online ISA Issue 56 at 4.35%  However, they can't accept Chip Transfers as Chip don't use the BACS system!

The next best seems to be Coventry BS at 4.15% which does accept Chip transfers, albeit max of five withdrawals and the rate only lasts for a year.

masonic

Why not just transfer it to an easy access ISA Cynergy will support, then on to Cynergy?

clairec666

masonic said:

Why not just transfer it to an easy access ISA Cynergy will support, then on to Cynergy?

A bit of extra admin doing two transfers, but could be worth it if you've got at least a few thousand in the ISA. £1000 will gain you an extra £2 per year in Cynergy compared to Coventry.

larachantie

masonic said:

Why not just transfer it to an easy access ISA Cynergy will support, then on to Cynergy?

Never thought of that!  In practice, Coventry is still a mutual so I'm happy to give them my business but will remember that for the others.  My main point was to flag how tricky it is to use some of the newer challenger organisations: lots of gotchas.

Gambler

Chip to Tembo was very quick for me.