Abbey ISA

Wayneg

A few years ago I opened up a postal ISA with Abbey. At the time the interest was great and they kept it very competitive for quite a while. When I checked recently the interest was quite poor in comparison to other market leaders. I rang them up and told them I was going to move it. They offered to change it to a Direct ISA which increased my interest by about 0.5%.
I noticed that this was still below the best buys. I rang them again today all ready to transfer out. They have now moved me on to issue 2 of their Direct ISA which pays 6.25% for just over a year (including a bonus for 13 months).

I almost felt like tellling them to keep their ISA. No point in that though...better to use the system to get the best. It just goes to show that they will get away with whatever they can if we let them.

If you have an Abbey Isa why not do the same?

Wayne

TomsMom

Wayneg wrote: »

It just goes to show that they will get away with whatever they can if we let them.

Wayne

Of course they will, they're all the same, they're there to make a profit and they'll make more if they don't tell you to move your money into a higher rate account. That's why it's important for us to check rates regularly and move our money around to benefit us.

avantra

Wayne,

The bank is not your friend, more like your trading partner, they are a business and they are here to make dosh.
The best rate ISA at the moment is at 6.5% AER with Barclays.

You will NOT be able to transfer your ££ to it as it is only for NEW money. All other ISA's with better rate than Abbey have some snags in them (mainlu notice period etc').

If you are after a 'clean' ISA that allow you transfers in with good % rate than...

You already have it , yes Abbey direct issue 2:cool:
The updated list of ISA's with all the snags etc' can be found in the ISA forum under Kazza's entry.

http://forums.moneysavingexpert.com/showthread.html?t=401374