S&S isa … am confused

tracyk23

I have a £20k cash isa with Trading212. Another £20k with virgin money. I doubt either are paying much interest. I’ve started an AJ Bell S&S Isa this tax year.
I would like to transfer some of my cash isa to a S&S one. Looking quickly at T212, it says it pays 4.05% on S&S isa. Why does it mention an interest rate if it’s stocks and shares?
any other recommendations for a low fee diy S&S? 

Thanks 

ColdIron

It's interest on uninvested cash. If you were 100% invested there would be no cash to pay interest on

https://www.trading212.com/interest-on-cash

flaneurs_lobster

tracyk23 said:

I have a £20k cash isa with Trading212. Another £20k with virgin money. I doubt either are paying much interest.

I find that odd, if I had £40k in a couple of accounts I would know EXACTLY what the interest rates were, and if I could be earning more by moving my money elsewhere.

Robin9

Virgin cash ISA pays 4.11%; Trading 212 3.85 %

Just look at the weekly MSE email

ShinyStarlight1

flaneurs_lobster said:

tracyk23 said:

I have a £20k cash isa with Trading212. Another £20k with virgin money. I doubt either are paying much interest.

I find that odd, if I had £40k in a couple of accounts I would know EXACTLY what the interest rates were, and if I could be earning more by moving my money elsewhere.

Isn’t that what she’s doing?

Exodi

As said above, it's on uninvested cash (and some people deliberately leave all their money uninvested in T212's S&S ISA instead of Cash ISA since it's a 0.2% higher interest rate - though T212 will tell you off for doing this!

Without the bonus which has presumably expired, there are other higher rates available - such as 4.55% with HL (though technically HL is an intermediary and Shawbrook offers this rate through their 'Active Savings' service).

https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

tracyk23 said:

any other recommendations for a low fee diy S&S? 

Trading 212 is one of the few platforms that charges no platform fee. InvestEngine is another.

Of course if you intend to invest, you should be planning to not need access to that money for at least 10 years (in my opinion) else you are at the mercy of short term volatility (aka Trump opening his mouth).

tetrarch

Just fro a ease of admin point of view. I would keep all my cash ISA's in one place at the best rate

Regards

Tet

flaneurs_lobster

tetrarch said:

Just fro a ease of admin point of view. I would keep all my cash ISA's in one place at the best rate

Regards

Tet

Easier admin? Possibly.

What about wanting some funds in a fixed rate product and the rest available flexibly?

Yorkie1

tetrarch said:

Just fro a ease of admin point of view. I would keep all my cash ISA's in one place at the best rate

Regards

Tet

Although that may mean a) lower interest rates, and b) lack of protection if the total funds exceeds the FSCS protected limit (currently £85K, anticipated to rise to £110K shortly but not yet formally confirmed). After many years of funding cash ISAs, that is not a fanciful proposition.

jimjames

ShinyStarlight1 said:

flaneurs_lobster said:

tracyk23 said:

I have a £20k cash isa with Trading212. Another £20k with virgin money. I doubt either are paying much interest.

I find that odd, if I had £40k in a couple of accounts I would know EXACTLY what the interest rates were, and if I could be earning more by moving my money elsewhere.

Isn’t that what she’s doing?

No because OP states they don't know. How can you get a better rate if you don't know what you're getting in the first place