Transfer Cash ISAs Discussion Area

GlasweJen

does anyone have the under 25s ISA from Kent reliance? The rate looks good but i'd like a recommendation before i sign on the dotted line.

MarkyMarkD

I have an account (but not the under 25s ISA) from Kent Reliance.

Kent Reliance have the highest rate on their standard (non-under 25s) ISA over the last 18 months and 36 months according to Moneyfacts, and the under 25s rate is better than that, so it should be a low risk option particuarly if you don't want to keep moving your money around.

murphydavid

Not been looking for a while so may be the Article is in need of an update. If so
Quote from article "Small building society Kent Reliance pays the highest rate of interest available without a bonus". I think the Yorkshire B.S. beats this or have I read the Yorkshire web site incorrectly? 3.3 to 3.5 dependent on the amount deposited

MarkyMarkD

I agree. The YBS account is currently better.

This article is only updated monthly, though, so it's not always going to be up-to-date. But what's strange is that the Kent Reliance rate was cut to 3.27% on 01/01/09, whilst the YBS account was reduced to 3.3% - 3.5% on 28/12/08.

So the article should include YBS.

kostigovs

My apolgies if the answer to my question is hidden in the previous 29 pages of this thread.
I arranged to transfer a maturing cash Isa (6.25% fixed) from Bradford & Bingley to Northern Rock. B & B were offering less than 3% whilst NR offered me a fixed 4% for one year. Is there a fixed time period by which B & B must process the application and arrange for the transfer of funds

Lokolo

Its meant to be 30 days.

kostigovs

Lokolo wrote: »

Its meant to be 30 days.

That was my understanding too but I'm unsure whether thae 30 days is an unwritten rule. Something tells me moves were taking place to make the 30 days obligatory

boobbby

I would like to transfer my old Alliance and Leicester ISA to their new ISA but this is not allowed. (only new money) Could I transfer my old ISA to a new provider then transfer back into the Alliance and Leicesters new ISA?

whu

boobbby wrote: »

I would like to transfer my old Alliance and Leicester ISA to their new ISA but this is not allowed. (only new money) Could I transfer my old ISA to a new provider then transfer back into the Alliance and Leicesters new ISA?

I would have thought that if they won't allow a transfer in from the current ISA they won't allow it in from another ISA even if from another provider

MarkyMarkD

The 30 day limit is an HMRC rule, for the transferring institution to respond to a request for funds from the transferee institution. There is no limit on how long the transferee organisation can take to request the funds, though.

Be careful about attributing blame unless you know that the fund request has been issued.

Regarding A&L, they DO allow transfers in from outside. But doing the dual transfer you propose is:

(1) unfair on the "piggy-in-the-middle" institution who is doing lots of work for no reward; and
(2) liable to failure because A&L are very likely to pull the product before you manage to transfer into it.

In any case, A&L's product isn't best buy. So why not just transfer directly from A&L to the best buy, and then stay there? Why go back to A&L at all?