Are Barclay's ISA's Really worth 6.5%?

Keith601

Are Barclay's ISA's Really worth 6.5%?

I ask this question because. Although I do not have an account with Barclay's, Over the last year, I have paid £250 per month into there tax beater ISA. Now that the 07/08 Bonus Rate has ended. I want to continue with there new Tax Haven ISA, But they will not allow me to transfer the £3000 pounds from the Tax Beater ISA into the new Tax Haven ISA.

Therefore the 6.5% only applies to a maximum of £3600. I can only conclude that if I keep £3000 in the Tax beater ISA at 5.5% and £3600 in the new ISA at 6.5%, It is only worth a combined 5.75%. And not 6.5%.

Can anyone please tell me. What ISA,s pay over 6% and allow transfers funds from other banks.

Thanks

Keith

Aegis

Alliance & Leicester and Icesave spring to mind.

bristolleedsfan

Abbey for a variable rate as they backdate interest during the transfer cheque transit and banking period.

Nationwide BS for a fixed rate, they also backdate interest on transfers in as described above.

Lokolo

I can't help but laugh at this thread....

You can open a tax haven ISA for a year then transfer it elsewhere.

So for 08/09 have:

A 6.5% ISA with Barclays with £3600 new money.
A (for examples sake) a 6.05% with Egg for previous money.

This to me, is worth it.

emma396

i agree with lokolo, i think it's worth it.

10_66

Lokolo wrote: »

I can't help but laugh at this thread....

You can open a tax haven ISA for a year then transfer it elsewhere.

So for 08/09 have:

A 6.5% ISA with Barclays with £3600 new money.
A (for examples sake) a 6.05% with Egg for previous money.

This to me, is worth it.

I think B&B 12 month fixed rate @ 6.25% is a better bet. Barclays Tax Beater matched all of the rate changes in 2007, so there's no reason to suppose the Tax Haven won't. General consensus is that rates will go down during the next 12 months. Time will tell.

Stavros_3

My only concern with gthe new B & B ISA is that they do not accept transfers, hence I am still going ahead with the 6.15% Fixed Nationwide for the sake of a 0.10% lower rate

10_66

It is a pain that they don't permit transfers in, but I was comparing it to Barclays really, which doesn't permit transfers in either.

duck_egg_3

please don't quote me on this as it was a conversation i overheard in lloydstsb the other day, a woman was wanting to open one of their 6.5% isa's but the customer service lady was explaining they could only give that rate if they were transferring from another isa, if not she would only get 5.75%...worth looking into!

bristolleedsfan

duck_egg wrote: »

please don't quote me on this as it was a conversation i overheard in lloydstsb the other day, a woman was wanting to open one of their 6.5% isa's but the customer service lady was explaining they could only give that rate if they were transferring from another isa, if not she would only get 5.75%...worth looking into!

Absolutely correct as transferring ISA(s) in is the only way somebody can reach the required 9000.00 + for 6.5% rate. :T

Lokolo

10_66 wrote: »

I think B&B 12 month fixed rate @ 6.25% is a better bet. Barclays Tax Beater matched all of the rate changes in 2007, so there's no reason to suppose the Tax Haven won't. General consensus is that rates will go down during the next 12 months. Time will tell.

That would be ok if I had the £3600 now.... :P