Cash ISA confusion

FrankieB_3

https://forums.moneysavingexpert.com/discussion/comment/82126864#Comment_82126864

Thank you. I’m after a decent rate for ease which I appreciate won’t be the top available.
It’s a good point about the different pots but I won’t have much new money to invest each year as I’ve retired, which is also why I had the money to put in ISAs.

FrankieB_3

https://forums.moneysavingexpert.com/discussion/comment/82126887#Comment_82126887

Thank you for this. I noticed Martin mentioned Charter as an “easy option”. I would prefer monthly interest & also they have an app which Leeds don’t & I prefer one for keeping an eye on things.
At least now I’ve had 2 good suggestions from people who have used them for a few years so that’s really helpful.

clairec666

Avoid anything which offers a "newbie bonus". Look at tradition high street banks and building societies, even though they might not offer the very best rates. I find Skipton and Coventry habe usually got something decent on offer. Best rates right now are for fixes, so you'll still have the hassle of shopping around for a new deal when it ends, but there'll likely be something on offer with the same provider which takes some of the hassle away. Chip (also Plum, Trading212 etc) don't usually offer anything decent once you've lost your newbie status.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82127398#Comment_82127398

I would agree about the issues with the newer kids on the block like Chip etc.

However the well known, traditional providers like big building societies and banks are not the only alternative.

There are many smaller well established savings providers, that offer good service and good rates ( if not the best). Charter have already been mentioned, but you also have the likes of Paragon, Aldermore etc and many more.

jimjames

If you're looking for repeated 1 year fixes on this money and have no requirements for it in the next 5 years or so then you might want to look at investing some or all in a S&S ISA as that will avoid the need to chase the best rates all the time.