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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 5th Apr 12, 5:41 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Open new year cash Isas now
    • #1
    • 5th Apr 12, 5:41 PM
    MSE News: Open new year cash Isas now 5th Apr 12 at 5:41 PM
    This is the discussion thread for the following MSE News Story:

    "The new tax year starts today, so savers should consider putting their cash into a new Isa now"

    Read the full story:
    Open new year cash Isas now


Page 1
    • alanq
    • By alanq 6th Apr 12, 4:25 PM
    • 4,154 Posts
    • 2,733 Thanks
    alanq
    • #2
    • 6th Apr 12, 4:25 PM
    • #2
    • 6th Apr 12, 4:25 PM
    "To highlight the benefits, the current top easy access cash Isa rate, from Cheshire Building Society*, pays 3.5% AER until October 2013."

    No it doesn't.

    "A great rate of up to 3.50% AER tax-free variable including a fixed bonus of 2.50% paid until 31 October 2013 on balances of 1,000+. "
    http://www.thecheshire.co.uk/landingpages/Direct-Cash-ISA/

    It's the bonus that is fixed not the rate.
  • Narc
    • #3
    • 6th Apr 12, 4:38 PM
    • #3
    • 6th Apr 12, 4:38 PM
    Opened an ISA with Santander after it was mentioned in last year's article and after two months month the rate was dropped to 0.1%. Watch out!
    • SavingSteve
    • By SavingSteve 6th Apr 12, 4:57 PM
    • 482 Posts
    • 206 Thanks
    SavingSteve
    • #4
    • 6th Apr 12, 4:57 PM
    • #4
    • 6th Apr 12, 4:57 PM
    So what is the consensus out there on whether a rate war will arise?

    I am torn between either:
    a) Opting for the best rate available this weekend, get my money in and start earning interest tax free ASAP

    b) Waiting for next week to see if a rate war commences, so see if anything better comes up.

    A lot of the best rates seem not to allow transfers in, so would be gutted if I plucked for the best rate only for it to be beaten the day later! I see Nationwide have a good offering, but I have no intention of banking with them, just not sure whether I wait and see if that gives other providers a nudge on their rates!
  • innovate
    • #5
    • 6th Apr 12, 6:11 PM
    • #5
    • 6th Apr 12, 6:11 PM
    Why do MSE Towers not mention the Nationwide instant access Flexclusive 4.25% ISA?
    • le loup
    • By le loup 6th Apr 12, 6:49 PM
    • 3,907 Posts
    • 3,955 Thanks
    le loup
    • #6
    • 6th Apr 12, 6:49 PM
    • #6
    • 6th Apr 12, 6:49 PM
    Why do MSE Towers not mention the Nationwide instant access Flexclusive 4.25% ISA?
    Originally posted by innovate
    Because most MSE "NEWS" is about 5 days behind the forums!
    • wymondham
    • By wymondham 7th Apr 12, 10:07 AM
    • 5,868 Posts
    • 11,455 Thanks
    wymondham
    • #7
    • 7th Apr 12, 10:07 AM
    • #7
    • 7th Apr 12, 10:07 AM
    Is it worth switching? I have on several previous anniversaries and the rate drops like a stone quickly and you're not really any better off - maybe I've been unlucky but it usually is a lot of hassle for very little gain...
  • innovate
    • #8
    • 7th Apr 12, 11:01 AM
    • #8
    • 7th Apr 12, 11:01 AM
    Is it worth switching? I have on several previous anniversaries and the rate drops like a stone quickly and you're not really any better off - maybe I've been unlucky but it usually is a lot of hassle for very little gain...
    Originally posted by wymondham
    Well, you need to keep on top of the rates and when they expire. Probably have to switch every one or two years - - there's very few good offerings now without a bonus. If you have a choice between less than 1% interest and 4%+, surely it is worth the 'hassle'? Personal choice, though.
    • rachelonna
    • By rachelonna 8th Apr 12, 11:46 AM
    • 85 Posts
    • 31 Thanks
    rachelonna
    • #9
    • 8th Apr 12, 11:46 AM
    • #9
    • 8th Apr 12, 11:46 AM
    I just opened a new ISA with Barclays at 3.05% - minimum of 1, unlimited withdrawal - unlike the other top rates. Not sure why these aren't included in the MSE best buys?
    • ejv
    • By ejv 8th Apr 12, 12:07 PM
    • 305 Posts
    • 38 Thanks
    ejv
    I just opened a new ISA with Barclays at 3.05% - minimum of 1, unlimited withdrawal - unlike the other top rates. Not sure why these aren't included in the MSE best buys?
    Originally posted by rachelonna
    The advantage of this one is its low minimum deposit.
    AFAIK all easy access ISAs allow unlimited withdrawals.
    I think MSE ranks the ISAs with the highest rate,assuming most would go for full/nearly full subscription amount
    • rb10
    • By rb10 8th Apr 12, 3:55 PM
    • 6,304 Posts
    • 3,827 Thanks
    rb10
    I just opened a new ISA with Barclays at 3.05% - minimum of 1, unlimited withdrawal - unlike the other top rates. Not sure why these aren't included in the MSE best buys?
    Originally posted by rachelonna
    At 1.2% below the best instant access ISA, it's hardly a best buy.
    • rachelonna
    • By rachelonna 8th Apr 12, 4:46 PM
    • 85 Posts
    • 31 Thanks
    rachelonna
    Perfect if you don't want to be opening a Nationwide account and then wait three months in order to even be opening the ISA!
    • rachelonna
    • By rachelonna 8th Apr 12, 4:47 PM
    • 85 Posts
    • 31 Thanks
    rachelonna
    And who has 5200 to be putting upfront into an ISA unless it's transfer in, and even then, you're not touching your 2012 allowance

    makes no sense to me! But I presume it's each to their own.
    • rb10
    • By rb10 8th Apr 12, 5:29 PM
    • 6,304 Posts
    • 3,827 Thanks
    rb10
    Perfect if you don't want to be opening a Nationwide account and then wait three months in order to even be opening the ISA!
    Originally posted by rachelonna
    You can open the ISA on the sane day a as the flex account if you transfer
    SOs/DDs - no need to wait three months.

    And who has 5200 to be putting upfront into an ISA unless it's transfer in, and even then, you're not touching your 2012 allowance

    makes no sense to me! But I presume it's each to their own.
    Originally posted by rachelonna
    Lots of people will pay in their full allowance this month. But lots of ISAs allow you to add to them throughout the term, so you don't need to put it all in now.
    • ejv
    • By ejv 8th Apr 12, 6:03 PM
    • 305 Posts
    • 38 Thanks
    ejv
    At 1.2% below the best instant access ISA, it's hardly a best buy.
    Originally posted by rb10
    I assume u r mentioning the NWide 4.25%
    There are many venomous posts on that, as they seem to be bit harsh to strictly ask for 750 pm remitted in the current account, as long as you hold the ISA. U can't miss a month.
    I know there are ways around it, but may not be for everyone
  • innovate
    And who has 5200 to be putting upfront into an ISA unless it's transfer in, and even then, you're not touching your 2012 allowance

    makes no sense to me! But I presume it's each to their own.
    Originally posted by rachelonna
    5,200? Where's that amount coming from? Why wouldn't there be people who cannot put in their 2012-2013 allowance (5,640) in one go, and why wouldn't anyone putting any money into their 2012-2013 ISA be "touching their 2012 allowance"?

    makes no sense to me! But I presume it's each to their own.
    Last edited by innovate; 08-04-2012 at 9:21 PM.
    • evenasus
    • By evenasus 8th Apr 12, 9:38 PM
    • 10,789 Posts
    • 28,013 Thanks
    evenasus
    And who has 5200 to be putting upfront into an ISA unless it's transfer in
    Originally posted by rachelonna
    Actually, quite a lot of people, including me and also my husband.

    And this year it's 5640.00
    The time for saving for a house deposit, is before you marry/live together/have children.
    Save for what you want to buy
    .

    You're - You are
    Your - It's yours.
    • stingyscot
    • By stingyscot 10th Apr 12, 4:29 PM
    • 81 Posts
    • 71 Thanks
    stingyscot
    Why do MSE Towers not mention the Nationwide instant access Flexclusive 4.25% ISA?
    Originally posted by innovate
    Because in order to have one, you need to have opened one of their flexaccount current accounts within the past 4 months, and transferred 750 per month for 3 months, and transferred all your direct debits and standing orders, and done it all in a high street branch which you've had to drive to and pay to park and stand in a queue for, and...it's just not worth all the effort!
  • innovate
    Because in order to have one, you need to have opened one of their flexaccount current accounts within the past 4 months, and transferred 750 per month for 3 months, and transferred all your direct debits and standing orders, and done it all in a high street branch which you've had to drive to and pay to park and stand in a queue for, and...it's just not worth all the effort!
    Originally posted by stingyscot
    Firstly, there are tens of thousands of people who already have a flex account.

    Secondly, even people who haven't got one might be interested (took me 20 minutes last Saturday to get everything set in motion - and I am not counting travel time since I was in town anyway).

    Thirdly, I would expect MSE to be objective and complete when they list the "top cash ISAs".

    Anyway, I see they have now added to their Top Cash ISAs page.
    • typistretired
    • By typistretired 10th Apr 12, 9:37 PM
    • 1,423 Posts
    • 1,010 Thanks
    typistretired
    Why is the Saga One Year Fixed Rate of 3.60% not in the list. Okay you have to be over 50 but they have other ISA'a in there which have conditions. I wouldn't have known about this ISA if I hadn't spotted Kazza242's post!!!
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