Best savings account?

Ah right, had June in my mind for some reason. Thanks.

In regards to the (just under) £1,000 in there, will I be able to transfer that to another ISA keeping that £1,000 allowance from last year (22-23)
 
ShivP said:
Ah right, had June in my mind for some reason. Thanks.

In regards to the (just under) £1,000 in there, will I be able to transfer that to another ISA keeping that £1,000 allowance from last year (22-23)
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If you transfer an old ISA (previous financial year) into a new ISA (current financial year) it doesn't count towards the current years ISA limit, only new money into the ISA does.

I think that's what your asking?
 
Freakbro said:
If you transfer an old ISA (previous financial year) into a new ISA (current financial year) it doesn't count towards the current years ISA limit, only new money into the ISA does.

I think that's what your asking?
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Yep, I think so. I'd like to transfer that £1,000 from the nutmeg ISA to another ISA once I've received the bonus.
So this would be an old ISA into a new ISA.

My query is, I have a santander cash ISA opened in the previous financial year, alongsidethis nutmeg ISA.
If I transfer the nutmeg to the previous year santander cash ISA, will that stop me opening another cash ISA this financial year, as I understand I can only open 1 cash ISA per year. This won't really count as an "opening" in my book as it's previous year ISA to previous year ISA, but it is still a transfer in this financial year :/
 
MichaelAwkward said:
Should be fine then, it won't affect this years allowances. I'd be looking to transfer them both to a new one this year though as surely the rate can't be very good on the Santander (assuming that's a cash ISA)?
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Yep it's a cash ISA, 4.25 or 4.5% for 18 months which is still not bad? I opened it just before the new tax year
 
200sols said:
Seems clear, you can access the interest at the end of term so it will all be taxable in that tax year.
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What if you had the option to access the interest each year but when you set up the account you chose to automatically pay it into the savings account?
 
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Secure Trust bank are offering 3.85% easy access. Min 1k deposit. Max balance 85k.

I've been with zopa for a while now as they were hovering around the top of the offerings, but they are around the 3.5-3.6% mark now, so I'm tempted to jump ship.

Bit of a pain having to chase the best rates. Why can't someone stay market-leading and make everyone's life easier :D
 
NotAGolf said:
Bit of a pain having to chase the best rates. Why can't someone stay market-leading and make everyone's life easier
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If you were to use for example a savings service like HL active savings you can create a savings ladder of 3, 6, 9 or 12 month fixes. This way you get better rates and never a long wait for the cash, they also have easy access although the rates dip a bit compared to the best on the market there. Plus point is you can deposit cash via debit cards as well. Sometimes you get marginally less rate than elsewhere, sometimes you can get a little more but its a lot easier than shifting cash around via bank transfers... especially if you have a lot of it.
 
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I've just set up the Chip instant access savings a/c @ 3.8%

Have linked to my bank account and was using my debit card to transfer money in (some worked some failed) so ended up sending manually by bank transfer, which then got blocked by my bank! Rang them to go through security and at one point they advised me that their list said Chip isn't covered by the FSCS?

Chip website says they are, so I've been to the FSCS website and checked and that says : Chip Financial Ltd (FRN:911255) isn't covered?

What gives?
 
Freakbro said:
I've just set up the Chip instant access savings a/c @ 3.8%

Have linked to my bank account and was using my debit card to transfer money in (some worked some failed) so ended up sending manually by bank transfer, which then got blocked by my bank! Rang them to go through security and at one point they advised me that their list said Chip isn't covered by the FSCS?

Chip website says they are, so I've been to the FSCS website and checked and that says : Chip Financial Ltd (FRN:911255) isn't covered?

What gives?
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Option 1

FSCS's list isn't current
or
Chips is telling fibs

I've only got £35 in Chips at the moment...but if it's not covered I won't put a single penny in there.
 
200sols said:
If you were to use for example a savings service like HL active savings you can create a savings ladder of 3, 6, 9 or 12 month fixes. This way you get better rates and never a long wait for the cash, they also have easy access although the rates dip a bit compared to the best on the market there. Plus point is you can deposit cash via debit cards as well. Sometimes you get marginally less rate than elsewhere, sometimes you can get a little more but its a lot easier than shifting cash around via bank transfers... especially if you have a lot of it.
Click to expand...

Thanks for the tip. We're fortunate that we have got enough that it's worth shopping around, but we need instant (or relatively instant) access to it as it's going to be dropped on a house purchase. That could be next week, or in 2 years - it's a bit of a pig to plan for!

I'll definitely look into it for future reference, especially as I'm already with H&L so hopefully it won't be too painful to set up.
 
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