HSBC e-ISA - 6.25%

simpleguy_blr

HSBC have increased their interest rates from 5.75% to 6.25%.
:beer:

McSaver

I think this is 1 to heat up the competition. They probably noticed that 5.75% wasnt good enough to pull enough savers cash in. when there is better products on the market. The real let down onthis ISA is that it doesnt accept transfers in.

Stompa

Worth noting that 'transfers in' are not allowed though.

Aegis

simpleguy_blr wrote: »

HSBC have increased their interest rates from 5.75% to 6.25%.
:beer:

Us insiders posted this one about a week ago

Good to know that it's being confirmed by non-staff though!

pardal51

[strike]

Stompa wrote: »

Worth noting that 'transfers in' are not allowed though.

Yes they are accepted...

http://www.hsbc.co.uk/1/2/personal/savings/cash-e-isa/more;jsessionid=0000sAiW6tiEDWkYf8PsBl0ku-I:12ntf1n0a

"HSBC also offers a Cash ISA which offers tiered interest rates, meaning the more you save, the more you earn. Transfers in from other ISA providers are also accepted. These can be applied for by telephone and in your local branch." [/strike]

Apologies as I have misread that Cash ISA allows, but not e-ISA

Aegis

pardal51 wrote: »

Yes they are accepted...

http://www.hsbc.co.uk/1/2/personal/savings/cash-e-isa/more;jsessionid=0000sAiW6tiEDWkYf8PsBl0ku-I:12ntf1n0a

"HSBC also offers a Cash ISA which offers tiered interest rates, meaning the more you save, the more you earn. Transfers in from other ISA providers are also accepted. These can be applied for by telephone and in your local branch."

Those aren't the cash e-ISAs though. The rate on the branch/phone managed ISA is considerably lower than the online equivalent.

The e-ISA doesn't accept transfers in.

Aegis

pardal51 wrote: »

I am confused now...

Browsing HSBC website I can clearly see Cash e-ISA @ 6.25%AER...on more info tab they say transfers are allowed

The "transfers in allowed" part is for the cash ISAs, i.e. the branch based ones:

HSBC also offers a Cash ISA which offers tiered interest rates, meaning the more you save, the more you earn. Transfers in from other ISA providers are also accepted. These can be applied for by telephone and in your local branch.

Stompa

pardal51 wrote: »

Yes they are accepted...

http://www.hsbc.co.uk/1/2/personal/savings/cash-e-isa/more;jsessionid=0000sAiW6tiEDWkYf8PsBl0ku-I:12ntf1n0a

"HSBC also offers a Cash ISA which offers tiered interest rates, meaning the more you save, the more you earn. Transfers in from other ISA providers are also accepted. These can be applied for by telephone and in your local branch."

Yes, but I think that applies to the "Cash ISA" (with lower interest rate) as opposed to the "Cash e-ISA".

According to:

http://www.hsbc.co.uk/1/PA_1_5_S5/content/uk/pdfs/en/cash_mini_isa_key_features.pdf

"Transfers in from other providers are not permitted."

mac12

Haha I didnt even know they lowered it in the first place!

Got to keep my eye on that rate!

PauliPauli

Stompa wrote: »

Yes, but I think that applies to the "Cash ISA" (with lower interest rate) as opposed to the "Cash e-ISA".

According to:

http://www.hsbc.co.uk/1/PA_1_5_S5/content/uk/pdfs/en/cash_mini_isa_key_features.pdf

"Transfers in from other providers are not permitted."

I opened an e-ISA beginning this year, my previous ISA was in process of being transferred in.

The transfer IN ended being added to my new e-ISA, NOT a new Cash-ISA

Although I put this down to incompetence ... well gambled on it happening actually

MrBen_4

When it says you're not allowed transfers in, does that mean from other bank/building society ISA repositories?

I have a couple of years worth of Cash ISA's with HSBC in a normal Cash ISA account, can I move this across to a Cash e-ISA after opening one? I know this has been discussed in some other threads, but I still don't quite understand

I so far have not deposited any ISA cash for 08/09 yet, as I don't tend to have saved up the amount untill the end of the financial year. I anticipate allocating this to a HSBC e-ISA at that point in time - hopefully on top of the previous years amounts if I'm able to transfer this over from my standard Cash ISA account with HSBC.

Many Thanks.