Best savings account?

[darkgen]

Initiated my first ever Cash ISA transfer the other week, April16th to be precise and its still not complete yet.. do these transfers normally take this long in your experience ?
I could understand it for a S&S isa but I expected Cash to be much quicker...

Just business days in my experience. I generally open up an account with the new bank with a transfer instruction, as part of the setup process, based on the maturity date of the previous ISA and it just works.

 

[200sols]

Initiated my first ever Cash ISA transfer the other week, April16th to be precise and its still not complete yet.. do these transfers normally take this long in your experience ?
I could understand it for a S&S isa but I expected Cash to be much quicker...

I recently transferred one of my parents cash ISAs into an S&S ISA, the process took 9 days. But if you read the guidance, 4 weeks is the expected time and longer is not unheard of either.

 

[Macky]

Well my first direct savers finally matured. Have now stuck it in a Monzo easy access pot for the time being.

 

[leoncuprar]

Initiated my first ever Cash ISA transfer the other week, April16th to be precise and its still not complete yet.. do these transfers normally take this long in your experience ?
I could understand it for a S&S isa but I expected Cash to be much quicker...

It came through today finally ..

 

[nam]

Got an email this morning santander are dropping there currently 5.20% on the easy access isa saver account to 4.20% from 20th May. Opened in September 2023. The rate was annual at 5.20% as i chose that when i applied. What other options are there currently?

 

[Journey]

Got an email this morning santander are dropping there currently 5.20% on the easy access isa saver account to 4.20% from 20th May. Opened in September 2023. What options are there currently?

They announced that at least 6 weeks ago, how come they just old you now? Next best was Post Office but that offer is gone, would have to check but someone like Oxbury maybe.

 

[Zatoichi.uK]

Need to think about where to put Santander funds too. Pickings seem slim.

 

[uscool]

already have accounts with Chip isa easy access and Chase easy access both offering 5.1% or maybe go with some fixed havent decided yet

 

[mattyfez]

already have accounts with Chip isa easy access and Chase easy access both offering 5.1% or maybe go with some fixed havent decided yet

I have the chip account as above... Will the interest rate stay at 5.1 for the year or is it variable and likely to fall?

 

[uscool]

I have the chip account as above... Will the interest rate stay at 5.1 for the year or is it variable and likely to fall?

its variable and rates only seem to be going down now, if you want interest rate to stay you need fixed but wont have access to the money

 

[mattyfez]

its variable and rates only seem to be going down now, if you want interest rate to stay you need fixed but wont have access to the money

Ahh well... Fixed wouldnt have suited me for this period as I guess you get punished of you need to take any money out.

 

[ci_newman]

They announced that at least 6 weeks ago, how come they just old you now? Next best was Post Office but that offer is gone, would have to check but someone like Oxbury maybe.

Oxbury is the leader at the moment however you need a minimum balance of £20k.

 

[HungryHippos]

I put £10K into an Atom bank 6 month fixed term at 5.25%. I have more in ISA etc if I need easy access, and not using much else of my non-ISA allowance this year, so won't breach the basic limits for tax-free savings anyway.

I think I prefer this over the notice accounts as you can just decide what to do with it once the fixed term ends.

 

[dlockers]

Haven't seen Zopa mentioned for a minute - working really well for me. My mortgage repayment is lower than typically at the moment due to extending the term so I have split my pot into a house pot and personal ISA. Still at 5% IIRC.

 

[HungryHippos]

My cash ISA is with ZOPA though it's also variable at 5.08% currently, but if rates dip on savings it will go down.

Props for ZOPA being easy to use though, adding the account in the app was really easy, and sending cash didn't even require adding a payee, it let me auth it via my Nationwide app which was really cool.

Atom on the other hand had a few more hoops to jump through, and wanted more hardcore id validation/KYC.

 

[Raymond Lin]

I am with Santader until the 20th this month when it goes down...then I will move it to Chase at 5% until November....then I will probably move it all to my Barclays Cash ISA ( less than £20k ), in between I will continue to put in the maximum £200 a month into Nationwide at 8%.

I did open the Chips account but will see what their rates are when November comes.

 

[HungryHippos]

Yeah first place I send anything each month is the £200 into Nationwide at 8%.

Other stuff then sort of winds up being optional, only thing I'm actively avoiding is overpaying mortgage lately because of the preferential rates on savings vs my cost.

 

[Disco_P]

Currently waiting on details of Trading 212's cash ISA, 5.2% paid daily with FSCS protection.

They said coming May but nothing much else.

 

[TonTom]

Oxbury is the leader at the moment however you need a minimum balance of £20k.

Opened an Oxbury account earlier funnily enough. A simple process.

 

[413x]

That's actually kind of meh as essentially it's a £100 bonus for switching but with strings attached.

I switched to Nationwide and got £150 for doing the switch properly (all stuff moved over from HSBC).

I also got 5% interest for a year on the Flex current AC and access to the 8% regular saver (£200 pcm).

Its quite clever.
They've basically changed from giving you a switching bonus you can get and leave as soon as it's over to hooking people in for a year.

If it had been on balances up to 3k or more I'd get it.

Also.. Switching bonuses are tax free. That virgin money thing is not!