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    • morpethian
    • By morpethian 14th Mar 17, 7:32 PM
    • 3Posts
    • 0Thanks
    Help for a novice on my ISA, Saver and current account
    • #1
    • 14th Mar 17, 7:32 PM
    Help for a novice on my ISA, Saver and current account 14th Mar 17 at 7:32 PM
    Hi, First post and not the most clued up on finance. All the below has been thanks to advice of the mother over the years.

    I currently have 3 student/graduate accounts with Natwest, Halifax and TSB. The Natwest has been the account I've used for the past 10 years(24 now).

    I'm looking to move to First Direct to take advantage of the 125 switching bonus, obviously intending to close all 3 accounts when switching.

    I also have the Halifax help to buy ISA and a cash ISA with Natwest. I did have an ISA with M&S but closed in 2015 I think. The last time I paid money into the Natwest ISA was back in 2015 and I opened the help to buy ISA in April 2016. So have only been paying into one ISA in the tax year.

    I intend to close the Natwest ISA as the interest is down to 9p a month. But intend to keep the help to buy ISA as still getting 3.5% interest.

    I notice with first direct current account there is a regular saver at 5% for 12 months, would I be able to keep the help to buy ISA and use this savers account too tax free?

    I have a decent amount of money across the accounts. No credit cards or debts apart from a student loan on the pre 2012 fees.

    Have a job with enough monthly pay in for first direct and 2 DD's coming out of the Natwest.

    Any advice would be appreciated.
Page 1
    • Vortigern
    • By Vortigern 14th Mar 17, 7:38 PM
    • 2,420 Posts
    • 1,628 Thanks
    • #2
    • 14th Mar 17, 7:38 PM
    • #2
    • 14th Mar 17, 7:38 PM
    You only need to switch one account to first direct to get the incentive, so you'll only lose one of your three.

    The first direct regular saver is not an ISA so it's OK to have it alongside your help to buy ISA. It will be tax free if within your savings allowance of 1000 for a basic rate taxpayer or 500 for a higher rate taxpayer.
    • xylophone
    • By xylophone 14th Mar 17, 10:18 PM
    • 25,371 Posts
    • 14,967 Thanks
    • #3
    • 14th Mar 17, 10:18 PM
    • #3
    • 14th Mar 17, 10:18 PM
    There are better cash ISA rates

    but they are not scintillating.

    Had you considered a Nationwide Flexdirect account and Flexclusive saver?

    Had you thought of starting a stocks and shares ISA?
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