Which ISA to transfer in to?

Am I correct in thinking that you should always aim to move all of your ISA savings into the highest interest earning account each year that you can, rather than just investing each year's entitlement in different ISAs and allowing your savings to become fragmented, each paying different rates of interest?
 
The Mad Rapper said:
Am I correct in thinking that you should always aim to move all of your ISA savings into the highest interest earning account each year that you can, rather than just investing each year's entitlement in different ISAs and allowing your savings to become fragmented, each paying different rates of interest?
Click to expand...

The aim should be to have the maximum amount of money earning the highest possible rate. So yeah :) Fragmentation doesnt matter, but if you have found a better account then you need to put as much as you possibly can into it.
 
Without having to ring the bank, anyone know roughly what interest I would be getting:

I have a NatWest ISA PLUS account opened on the 18th May 09.

I worked it out to be 3.22% based on last months interest....

Thanks.
 
Last edited:
Various ISA providers offer higher interest on higher amounts though to make a difference you probably need at least 10-15k to change the interest threshold.
 
I've got just over £5k sat in an ISA with NS&I and for last year I got about £76 interest which is more than I was expecting but still not great - shall have to have a look around money-supermarket to see what's a good option!

Would want to open a savings account rather than an ISA however as would want access to it - I can keep adding to the ISA but forget about it in terms of any withdrawals.
 
TheOtherOption said:
I've got just over £5k sat in an ISA with NS&I and for last year I got about £76 interest which is more than I was expecting but still not great - shall have to have a look around money-supermarket to see what's a good option!

Would want to open a savings account rather than an ISA however as would want access to it - I can keep adding to the ISA but forget about it in terms of any withdrawals.
Click to expand...

£76 for the year on £5000? :confused: Thats absolutely terrible! (~1.5%!)
 
Last edited:
Conrad11 said:
LOL, just figured out my maths was well, well offf.....

Don't have a lot in there cause I made withdrawals but it was around £5 interest on 2K....whats the rate?
Click to expand...

£60 over the year on £2000 is around 3%, that sounds too much for the rates quoted?
 
Jez said:
£76 for the year on £5000? :confused: Thats absolutely terrible! (~1.5%!)
Click to expand...

There hasn't been £5k in there for the whole 12 months unfortunately which explains in part the small net interest - last year when the rates were still relatively high I got about £135 on a bit less than £4k I think (can't recall exactly)

This is why I will have to have a look around and see what I can get :)
 
Quick question (due to me ballsing up the final payment for the tax year and it going in this tax year instead), can you have split payments across different ISAs over the 1 year?

Example

I transfer my current ISA which also includes the cocked up payment of £1.4k that falls in this year into a high interest ISA that allows for transfers.

I then open a second high interest ISA that doesnt allows transfers in, and pay the rest of my allowance for the year into that? (£3.7k if the allowance is £5.1k).

Is that possible?

Cheers
 
I think the only way you could do it is by opening a Stock and Shares ISA. You've already subscribed to a Cash ISA for this tax year, so I'm pretty you cant open another even though you haven't used the full subscription yet.
 
Barclays Golden ISA is about 3.1% for the first year then drops by a percent. I've just started my second account with them however they don't allow transfers in on this account, seems a bit weird having two separate ones with them but it will do. Quick question for the future though - If I wanted to consolidate both these ISA's into one new one next tax year (one that allows you to transfer in) is this still possible? I'm fairly new to ISA's so have never had to do it before

Thanks
 
martin lewis has contacts in the press offices and the companies are often very keen to tell him their best products so he promotes them.
 
Martin Lewis gets sent the press releases like any other finance media site. Moneyfacts and Moneysupermarket has the exact same details. He also show people the loop holes in finance products and other scheme which the providers aren't too happy about. so they aren't always that keen!
 
You must log in or register to reply here.
Back
Top Bottom