need a ISA

webmonkeyuk · 8 May 2008 at 10:27

Ive £1200 to put somewhere and after reading around i think an isa will be the best option, im after one where you can withdraw it from a cash machine or instore, does anyone here use HSBC's Cash e-ISA? this one looks ok. Any other suggestions you could think of?

SoapSurgeon · 8 May 2008 at 10:42

With an ISA you only get £3000 allowance per year so it really is best if you don't withdraw it. Say you put £1200 in and then withdraw it all - you have still used £1200 of your £3000 for that year...

Haven't used HSBC's Cash e-ISA so can't help you in that respect...

platypus · 8 May 2008 at 10:42

If you're after savings which you can withdraw regularly from, then it's not an ISA you want. Look around for some e-Savers.

http://forums.overclockers.co.uk/showthread.php?t=17857053

webmonkeyuk · 8 May 2008 at 10:56

i wont be withdrawing all the time never if i can help it, but i want to know i can get at it if i ever really need to like in an emergency. ive got a regular account for my day to day money just im planning on saving some money and wanted to put it in something that will return some interest

SoapSurgeon · 8 May 2008 at 11:00

Well you can transfer money out of most (all?) ISA accounts quickly, it just takes a few days. I guess it depends on how much of an emergency you are in! If you manage your money and wont need the cash in your ISA immediately then I would recommend starting an ISA with the highest interest rate - one like the icesave account. Just a thought - I know I'm not actually answering your question directly

fish · 8 May 2008 at 11:20

At the moment you can put £3600 into an ISA. I believe the Barclays one to be the best ATM.

HTH

EVILCOSMOS · 8 May 2008 at 11:22

Bradford and Bingley are doing an e-saver account with 6% gross AER, where you can transfer the money to another account without notice.

http://www.bradford-bingley.co.uk/savings/product/internet-saver-issue-2.asp

GlasgowTitan · 8 May 2008 at 11:32

I have a web saver account with the bank of scotland. it has instant access to your money and a 5.8% interest rate, works out good for me.

webmonkeyuk · 8 May 2008 at 11:50

thanx for the help guys, im gonna pop round some banks and see whats what aswell

Frapple · 8 May 2008 at 11:59

I get a 7.00% lump sum at the end of the year from First Direct, £300/month but can't touch it or I'll loose ~2% of that 7%.

randal · 8 May 2008 at 12:02

Just opened one with Halifax, you get £3600 as mentioned above then the opportunity to invest another £3600 tax free into another product such as a stocks and shares ISA.

Kreeeee · 8 May 2008 at 12:03

SoapSurgeon said:
Well you can transfer money out of most (all?) ISA accounts quickly, it just takes a few days. I guess it depends on how much of an emergency you are in! If you manage your money and wont need the cash in your ISA immediately then I would recommend starting an ISA with the highest interest rate - one like the icesave account. Just a thought - I know I'm not actually answering your question directly

I get my money instantly from HSBC.

platypus · 8 May 2008 at 12:07

webmonkeyuk said:
thanx for the help guys, im gonna pop round some banks and see whats what aswell

I wouldn't bother. Any internet deal you can find is bound to be better.

webmonkeyuk · 8 May 2008 at 13:16

but id rather deal with someone face to face rather than doing it on the internet

SoapSurgeon · 8 May 2008 at 13:18

webmonkeyuk said:
but id rather deal with someone face to face rather than doing it on the internet

I'm the opposite...

people are muppets, computers arent.

Actually, thinking about it, that doesn't make sense as computers have been programmed by people - who are them selves muppets :confused:

This is probably because my current account is with Abbey and they are renowned for being utter toss.

platypus · 8 May 2008 at 13:19

webmonkeyuk said:
but id rather deal with someone face to face rather than doing it on the internet

Why, if it means you're worse off?

webmonkeyuk · 8 May 2008 at 13:39

what do you do with your money? send it by post erm no thanx. its not in a bank at the moment so it would be a lot easyer to do it all face to face. if its easy to do then id go for a internet one

platypus · 8 May 2008 at 13:43

webmonkeyuk said:
what do you do with your money? send it by post erm no thanx. its not in a bank at the moment so it would be a lot easyer to do it all face to face. if its easy to do then id go for a internet one

No, you transfer it online..

SoapSurgeon · 8 May 2008 at 13:44

Oh right, you have £1200 in cash? Where did you say you live again...

Mine was already in my current account so I just transferred it when I set up the account. It shouldn't be too much hassle for you to pay the cash into your current account (which will be instant) and then set up an account online which will earn you more money...