Which ISA to transfer in to?

[CircleFaust]

i'm with ING direct. seems i'm on about 2.51% for the last tax year, reducing to 1% for this year i think

not great, but its completely penalty free

this seems ok,

whats the deal with stocks and shares ISAs?

 

[Felix]

So what, we shouldnt in fact use the best buys section, but look for our own ones?

Martin Lewis earns money from referals so I expect he trims which products he promotes. Use them but look at various sources so that you know you have covered the entire market.

 

[Gaygle]

Fun fact of the day - IIRC, you may have, in effect, 2 Cash-ISA's at once.

Say you had £10k saved in an ISA now earning 0.1% you are able to transfer this to another company, which allow transfers in, such as Abbey National 2.6% ISA (i think?).

You are then able to open a brand new ISA with another company and put in your £5,100 to that one and earn slightly more (say 3.2% with Abbey i think).

EDIT: Sorry, i wrote this quickly and may have forgotten some details. Saw an article on it in the Daily Fail (the financial reporter guy didn't even know about it) and went to abbey the next day, and they confirmed

 

[Mr-White]

I found out yesterday ISA's rolled over to another year on Monday, thanks HSBC for telling me I now only have £110 in my ISA that I was supposed to max out for this year

MW

 

[Jez]

Fun fact of the day - IIRC, you may have, in effect, 2 Cash-ISA's at once.

Say you had £10k saved in an ISA now earning 0.1% you are able to transfer this to another company, which allow transfers in, such as Abbey National 2.6% ISA (i think?).

You are then able to open a brand new ISA with another company and put in your £5,100 to that one and earn slightly more (say 3.2% with Abbey i think).

EDIT: Sorry, i wrote this quickly and may have forgotten some details. Saw an article on it in the Daily Fail (the financial reporter guy didn't even know about it) and went to abbey the next day, and they confirmed

You can open as many as you want this way, but the total saving cannot be above the limit either way.

 

[stoofa]

I found out yesterday ISA's rolled over to another year on Monday, thanks HSBC for telling me I now only have £110 in my ISA that I was supposed to max out for this year

MW

It's not down to HSBC to tell you.
It's been in the press for weeks that the new financial year was about to begin.

 

[Prophet]

OMG I'm rich! A whopping £1.62 interest on £2,000. See ya later I'm off to buy a.... Oh wait, no I'm not

I knew it was coming tbh so can't moan. Going to spend today looking at where to invest this year.

 

[Felix]

I found out yesterday ISA's rolled over to another year on Monday, thanks HSBC for telling me I now only have £110 in my ISA that I was supposed to max out for this year

MW

I doubt they have opened a new isa for the new tax year for you. I expect they have just moved it to a crap interest rate. So you will still have this years allowance.

 

[Jez]

I doubt they have opened a new isa for the new tax year for you. I expect they have just moved it to a crap interest rate. So you will still have this years allowance.

He means that he missed the deadline to use last years allowance