Meteor - IsBank - 1yr Fixed ISA

subjecttocontract

https://forums.moneysavingexpert.com/discussion/comment/81875429#Comment_81875429

Thanks for that. The only downside is that the easy access ISA savings rates are not particularly good but something better may be along in due course.

friolento

https://forums.moneysavingexpert.com/discussion/comment/81875435#Comment_81875435

I find the platform services (Meteor, Raisin, HL, Aviva, Flagstone etc) generally less than appealing from a rate point of view.There is also the question about FSCS protection whilst your funds are in the custody of the platform provider. In theory, they should all provide the full savings FSCS but I found the T&Cs to be a bit of a minefield and quite opaque. You can also lose days of interest on the way in and out.

Still, if it's convenience you are after, having a single logon might override rates and other concerns.

Interesting Which? article just updated: https://www.which.co.uk/money/savings-and-isas/savings-accounts/what-is-a-savings-platform-aGVMf9r8q21C

Powapa

Finally happy to say my funds from Moneybox have landed in the Meteor platform and I have managed to open the 4.35% fixed for 1 year rate. Was nerve racking having to check if the rate was still there everyday but all worked out.

subjecttocontract

https://forums.moneysavingexpert.com/discussion/comment/81875604#Comment_81875604

Ive been using Raisin & HL for fixed rate bonds for around 3 years now. I've always found that they fit with me perfectly. The rates offered are often just a small amount less than offered elewhere, my transfers in and out have been very quick, no undue delays, all the accounts on offer have FSCS cover and any disadvantages are more than compensated for by the convenience. The suggestion that there might be no FSCS cover whilst the funds are in custody is not something I've ever considered. But in my case the money has rarely been in custody for more than a day in either direction so I'm happy to accept any risk there might be.

The platform offer from Meteor for ISAs is a great idea & very welcome. The two of us have numerous cash ISAs and its always a bit of work when their fixed rates matures and it's time for a transfer. I have one maturing in early April so will look at Meteor nearer the time.

friolento

From the Which? link I posted above: