Is it worth me transferring from Egg to National Counties

purplestar133

Hi everyone,

I have an Egg Cash ISA which has stayed at 6.05% for a while, so I'm quite impressed with it's reliability so far.

Does anyone think it's worth transferring to National Counties BS Guaranteed ISA at 6.26%? When you factor in the transfer process and interest I might lose during that, I'm not sure whether it's worth it

Is anyone good at maths?!

Thanks

bristolleedsfan

[quote=purplestar133;10513973
Does anyone think it's worth transferring to National Counties BS Guaranteed ISA at 6.26%? When you factor in the transfer process and interest I might lose during that, I'm not sure whether it's worth it

Is anyone good at maths?!

Thanks[/quote]


No transfers in until after 5th April 2009.

See the further info by clicking on right hand side of page. http://www.ncbs.co.uk/ncbs.asp

purplestar133

bristolleedsfan wrote: »

No transfers in until after 5th April 2009.

See the further info by clicking on right hand side of page. http://www.ncbs.co.uk/ncbs.asp

Thanks, I'm obviously getting confused.

What I'm thinking is whether I should subscribe to my Egg Cash ISA in this current tax year, or whether I should open a new one with National Counties. I haven't put any money into an ISA in the 2008/9 tax year so far.

Thanks for pointing that out, I'm getting confused as I've also got previous years' ISAs with Kent Reliance and have been thinking of transferring that elsewhere.

bristolleedsfan

purplestar133 wrote: »

Thanks, I'm obviously getting confused.

What I'm thinking is whether I should subscribe to my Egg Cash ISA in this current tax year, or whether I should open a new one with National Counties. I haven't put any money into an ISA in the 2008/9 tax year so far.

Thanks for pointing that out, I'm getting confused as I've also got previous years' ISAs with Kent Reliance and have been thinking of transferring that elsewhere.

IMO ( which is what ive done) Bradford and Bingley 6.25% one year fix is best bet for 2008/09 maximum allowance new money.

Nationwide One or Two Year Fix for transferring from KRBS. ( Nationwide backdate interest on transfers in so u lose nothing during transfer in process, although nobody knows how long the 6.15% Fixed Rate will be on offer for)

Another Fixed alternative for both transfers and new money is Halifax 6.20%, Four Year Fix. ( again no loss of interest on transfers in)

Some of the ISA variable rates may well reduce in next few days.

BruceyBonus

I've opened a National Counties ISA this year and the service has been brilliant. Very helpful call centre with no queue, no automated system and only a geographic number. They sent me a form and had my account opened in less than a week (that also included them requesting ID documents and me sending them). For the entire process they provided pre-paid first class envelopes.

bristolleedsfan

BruceyBonus wrote: »

I've opened a National Counties ISA this year and the service has been brilliant. Very helpful call centre with no queue, no automated system and only a geographic number. They sent me a form and had my account opened in less than a week (that also included them requesting ID documents and me sending them). For the entire process they provided pre-paid first class envelopes.

Thats all very well, however after the guaranteed xtra interest period finishes its rates are dire.

http://www.ncbs.co.uk/ncbs.asp

If NCBS ISA rate reduces in next few days a Fixed Rate ISA would have been more prudent. ( with more Base Rate reductions expected during 2008)

purplestar133

bristolleedsfan wrote: »

Thats all very well, however after the guaranteed xtra interest period finishes its rates are dire.

http://www.ncbs.co.uk/ncbs.asp

If NCBS ISA rate reduces in next few days a Fixed Rate ISA would have been more prudent. ( with more Base Rate reductions expected during 2008)

So more base rate reductions are expected? I was considering transferring my previous years ISAs to a fixed rate ISA for that reason.

bristolleedsfan

purplestar133 wrote: »

I was considering transferring my previous years ISAs to a fixed rate ISA for that reason.

All my ISA funds are now fixed for 12 months. Reason I didnt fix for 2 years was just in case fate determined that I moved house during 2009.

Base rates are more likely to go down than go up during 2008 in most peoples opinions.

purplestar133

bristolleedsfan wrote: »

All my ISA funds are now fixed for 12 months. Reason I didnt fix for 2 years was just in case fate determined that I moved house during 2009.

Base rates are more likely to go down than go up during 2008 in most peoples opinions.

What would happen if you moved house? Can't you just tell the bank of your change of address?

You don't happen to know if Nationwide will accept any other ID than what's listed in their brochure, do you? They say you must show a bill as proof of address. I rent a house with all bills included so don't have any bills. I'll ask them tomorrow if I get a chance but wondered if anyone had been in a similar situation?

bristolleedsfan

purplestar133 wrote: »

What would happen if you moved house? Can't you just tell the bank of your change of address?

You don't happen to know if Nationwide will accept any other ID than what's listed in their brochure, do you? They say you must show a bill as proof of address. I rent a house with all bills included so don't have any bills. I'll ask them tomorrow if I get a chance but wondered if anyone had been in a similar situation?

I and many on here have Nationwide Current Account so would be rare for us to be asked for ID.

Passport/Driving Licence is usually main form of paper ID with secondary ID usually Utility Bill, ( which u dont have) Bank/Credit Card Statement. Personal Cheques are also considered excellent secondary ID.

Nationwide will obviously be able to give u firm guidance regarding its requirements including whether it can verify your ID electronically.

purplestar133

Am still wondering why moving house would affect your decision on how long your have your ISA fixed for?

Just asking cos I might move in 2009 too!

I'm not registered on the electoral role at this address, so I hope that doesn't affect whether they let me get an acccount or not.