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  • FIRST POST
    • MSE Helen Saxon
    • By MSE Helen Saxon 7th Apr 15, 10:23 AM
    • 75Posts
    • 44Thanks
    MSE Helen Saxon
    Top Cash ISAs 2015/16
    • #1
    • 7th Apr 15, 10:23 AM
    Top Cash ISAs 2015/16 7th Apr 15 at 10:23 AM
    Hi!

    This is the discussion thread for the



    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.


    Thanks folks,
Page 4
    • UKDeejay
    • By UKDeejay 27th Jun 17, 3:17 PM
    • 1 Posts
    • 0 Thanks
    UKDeejay
    Top ISAs 2017-18...
    The above article mentions that many bank current accounts now offer interest rates on balances far above the best cash ISA rates.
    However, these bank accounts usually require that you pay a monthly fee - typically £10.00 - which would almost cancel out any interest you would receive on, say, a current account balance of £1000.00.
    After all, who has large sums of money 'sloshing around' in their current account???
    • eskbanker
    • By eskbanker 27th Jun 17, 3:27 PM
    • 7,544 Posts
    • 8,185 Thanks
    eskbanker
    The above article mentions that many bank current accounts now offer interest rates on balances far above the best cash ISA rates.
    However, these bank accounts usually require that you pay a monthly fee - typically £10.00
    Originally posted by UKDeejay
    No they don't, you must be looking in the wrong place - try http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#interest

    After all, who has large sums of money 'sloshing around' in their current account???
    Originally posted by UKDeejay
    Anyone who wants to earn better interest than they'd get putting it in a <1% traditional savings account or cash ISA.

    And there's no need to refer to 'their current account' as if it needs to be singular....
    • Nohopeharry
    • By Nohopeharry 29th Jun 17, 2:16 AM
    • 17 Posts
    • 2 Thanks
    Nohopeharry
    Who has large amounts in their current account? Me unfortunately, in a HSBC one earning no interest at all. Thankfully, I've learned, and now have a few other current accounts with attached regular savers Im hoping to put some into an investment soon, but it's like a minefield lol
    • badger09
    • By badger09 29th Jun 17, 1:15 PM
    • 6,104 Posts
    • 5,472 Thanks
    badger09

    After all, who has large sums of money 'sloshing around' in their current account???
    Originally posted by UKDeejay
    Me and many other posters on here.

    Apart from Regular saver accounts, my current accounts have the highest intest rates. Where else do you suggest keeping cash savings?
    • MatthewAinsworth
    • By MatthewAinsworth 29th Jun 17, 1:35 PM
    • 3,105 Posts
    • 1,234 Thanks
    MatthewAinsworth
    Are cash ISAs genuinely safer than UK gilts? Seen as both are bugggered if the gov goes bust
    • jimjames
    • By jimjames 29th Jun 17, 1:37 PM
    • 12,658 Posts
    • 11,328 Thanks
    jimjames
    Who has large amounts in their current account?
    Originally posted by Nohopeharry
    All my cash savings are in my current accounts! All earning on average just over 4%
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Mobeer
    • By Mobeer 15th Sep 17, 5:12 PM
    • 1,719 Posts
    • 4,402 Thanks
    Mobeer
    I know I can only open 2 ISAs in a tax year (I cash and 1 investment) but can I end up with loads of ISAs over a number of tax years or do I always have to move my money to keep it in just the two ISAs? I read somewhere recently that you could only own 2 and now I am confused!!
    Originally posted by LTRT325
    Some though not all ISAs allow contributions made in previous years into other ISAs to be transferred in. Your current ISA providers should be able to advise which of the accounts you have allow transfers in.

    Note that you need to go through particular steps to transfer the money; do not withdraw it otherwise you will not be able to pay it back into this years accounts (beyond this year's limits). Again your current providers should be able to advise on this.

    If you do transfer old ISAs into new accounts I recommend getting the bank staff to do the transfer for you. I previously had problems with transferring funds (done by bank staff as a payment not a transfer) and since it was the bank's fault they could fix the transfer; if I had made the same mistake there would be no come back.
    • G_M
    • By G_M 30th Sep 17, 6:07 AM
    • 44,745 Posts
    • 53,249 Thanks
    G_M
    Are cash ISAs genuinely safer than UK gilts? SeenSeeing? as both are bugggered if the gov goes bust
    Originally posted by MatthewAinsworth
    If the gov goes bust we're all bugggered in more ways than one. And the only safe place to have assets would be abroad (Euros, Dollars, property in Swizzerland etc).

    But more relevant would be to consider which is safer if the gov does not go bust (a more likely scenario).

    Brexit for example, may or may not turn out to be a good thing, but is highly unlikely to bankrupt the country. But it IS much more likely to hit gilts than cash savings (whether ISAs or not).

    As would the election of JC as PM.
    • SteveG2010
    • By SteveG2010 29th Nov 17, 6:25 PM
    • 4 Posts
    • 0 Thanks
    SteveG2010
    I just got a letter from Coventry BS saying they are putting up the rate on their Easy Access Cash ISA from 1.05 to 1.3% on 1st December. I believe that makes it the current Best Buy for Easy Access ISA's.
    • AirlieBird
    • By AirlieBird 29th Nov 17, 6:52 PM
    • 1,039 Posts
    • 849 Thanks
    AirlieBird
    I just got a letter from Coventry BS saying they are putting up the rate on their Easy Access Cash ISA from 1.05 to 1.3% on 1st December. I believe that makes it the current Best Buy for Easy Access ISA's.
    Originally posted by SteveG2010
    Not a best buy. It was withdrawn last week.
    • vigman
    • By vigman 28th Dec 17, 11:41 AM
    • 1,253 Posts
    • 297 Thanks
    vigman
    Not a best buy. It was withdrawn last week.
    Originally posted by AirlieBird
    But existing customers are getting 1.3% and can add this year's allowance to it.

    Vigman
    Any information given in my posts or replies is intended to be of interest and/or help to members of the forum. I cannot guarantee that this is accurate or up to date.
    • xnoxxnox
    • By xnoxxnox 29th Mar 18, 5:16 PM
    • 73 Posts
    • 13 Thanks
    xnoxxnox
    I'm not sure if I should post this or not, but here it goes. Currently Abundance Investments are running a promotion on their IFISA - they will pay 1.5% interest on the cash balance held with them which is not invested until July. Note it is not a Cash ISA, but IFISA so might not be suitable if you already have an IFISA type subscription already. Or inverse might be a nice addition to your ISA subscriptions if you haven't tried any IFISAs yet. It is flexible, accepts transfers-in and transfers-out. One is meant to be tempted by their debentures products and invest into them, however they infrequently have new products launched hence they are tempting people by paying cash interest on the uninvested balance. In practice, one can use it as an Easy Access flexible and tax-free place to park cash until July. And 1.5% rate beats many of the 1 year fixes. Note, during normal times they don't pay interest at all, so if they withdraw this promotion, or stop it earlier, one will need to transfer somewhere else. I have IFISA with them, and have some cash with them and invested into some of their products as well. But otherwise I am not connected with them.
    • stingyscot
    • By stingyscot 16th May 18, 3:35 PM
    • 80 Posts
    • 71 Thanks
    stingyscot
    Further to this week's email tips for couples: the APS ISA system is not as straightforward as the MSE paragraph in 'Top Cash ISAs' "What happens to a cash ISA if the holder has passed away?" suggests. I have had to go through the process recently, and even the HMRC 'helpdesk' don't know what the rules are! I have tried to engage with MSE Towers on this subject but apparently it's of no interest. While I know it's a niche field, bereavement is when you are most in need of simple information to guide you through the tax maze.
    • eskbanker
    • By eskbanker 16th May 18, 4:18 PM
    • 7,544 Posts
    • 8,185 Thanks
    eskbanker
    Further to this week's email tips for couples: the APS ISA system is not as straightforward as the MSE paragraph in 'Top Cash ISAs' "What happens to a cash ISA if the holder has passed away?" suggests. I have had to go through the process recently, and even the HMRC 'helpdesk' don't know what the rules are! I have tried to engage with MSE Towers on this subject but apparently it's of no interest. While I know it's a niche field, bereavement is when you are most in need of simple information to guide you through the tax maze.
    Originally posted by stingyscot
    In the context of a 'best buy' piece about top cash ISAs, it's probably unsurprising that an ancillary list of FAQs won't be stuffed full of explanatory detail about a complex and specialist area, especially when you see the nearly 5,000 words on the subject at https://www.gov.uk/guidance/manage-additional-permitted-subscriptions-into-an-isa!

    So, while the brief overview in the MSE piece is clearly not going to be anything resembling a comprehensive guide, what's the most significant omission as far as you're concerned, that would be consistent with the level of detail in there?
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