Transfer Cash ISAs Discussion Area

tabatha

Just looked at this and don't know where you got your info. Both my husband and I successfully transferred 2 previous ISAs to Icesave in May this year and none were from the banks you mentioned. also, I'd like to point out that we opted for monthly interest which has been compounded and it is truly a large amount when added over the period. ehi

Yogi1309Cat wrote: »

I'd like to point out another problem with transferring to Icesave's top paying ISA.
You can only transfer current ISA's from the following companies - NatWest, Halifax, HSBC, LloydsTSB, Barclays or Nationwide.
If your ISA isn't with one of these companies you can forget it!
They also have to be variable rate ISA's or the same applies.
We have ISA's with Bradford & Bingley so we can't take advantage of this offer. Are there any other Banks out there we can transfer these to for a higher rate of interest?

Baldur

tabatha wrote: »

Just looked at this and don't know where you got your info. Both my husband and I successfully transferred 2 previous ISAs to Icesave in May this year and none were from the banks you mentioned. also, I'd like to point out that we opted for monthly interest which has been compounded and it is truly a large amount when added over the period. ehi

Agreed, but all pretty academic given the news of the past couple of days about Icesave....

suttonsaver

Yes, the news is good about preservation of Icesave ISA tax-free status - see latest update from Martin:
Plus, if you have money in an Icesave cash ISA, it is very likely that it will retain the tax-free ISA status. The Treasury has said:

• "Arrangements are being put in place to ensure that all ISA customers of Icesave will continue to benefit from the tax-free status of their accounts".

This is also what happened with Northern Rock. Read the full statement, and all updates will appear here and be included in the free weekly email.

The next key question in my mind is - up to what date will accrued interest be paid?

Baldur

suttonsaver wrote: »

The next key question in my mind is - up to what date will accrued interest be paid?

From memory, the FSCS is only required to include accrued interest up to the date of failure - check their website http://www.fscs.org.uk/consumer/

~Chameleon~

I've seen references on several different websites for the Scottish Widows e-Cash ISA but I can't find anywhere to apply for it. Does anyone know anything about it?

Just to add, the only info I could find on SW own website appears to be for an IFA referral, yet I've read that you can actually apply direct for this account

http://www.scottishwidows.co.uk/extranet/bank/ecash_isa.html

Baldur

~Chameleon~ wrote: »

I've seen references on several different websites for the Scottish Widows e-Cash ISA but I can't find anywhere to apply for it. Does anyone know anything about it?

You could try the 'Phone us for an application form' or 'Download an application form and post it to us' links on their How to apply page....

~Chameleon~

Baldur wrote: »

You could try the 'Phone us for an application form' or 'Download an application form and post it to us' links on their How to apply page....

Oooops! How on earth did I manage to miss that!

Thankyou!

robbo109_2

"Never, ever, ever, ever withdraw money from a cash ISA!
You'll immediately lose all the tax benefits."

Can anyone tell me if this also counts if i each month, just take out the £11 interest i receive for every month? I am not trying to transfer my ISA account.

Thanks

Baldur

robbo109 wrote: »

"Never, ever, ever, ever withdraw money from a cash ISA!
You'll immediately lose all the tax benefits."

Can anyone tell me if this also counts if i each month, just take out the £11 interest i receive for every month? I am not trying to transfer my ISA account.

Of course it applies, it means that you have lost the ongoing tax-free status of the interest (which is the main reason for never withdrawing money from Cash ISAs).

That £11 per month would add up to a significant amount of tax-free money, when compounded over the years - especially when added to next year's £3,600 + compounded interest, etc., etc.........

Rimmer209

Question please ??

I have an Abbey ISA ( Direct ISA Issue 2 ) and i am thinking of transferring to Natwest as they have a 7.25% PA rate, if i do will i lose any interest? are there any penalties?

Obviously the Natwest one has a 2% one year bonus, i will keep the money there a year if its ok and then move elsewhere.

Any advise appreciated - Naturally i dont want to lose more than i might gain