i.s.a. rip off

  bonmol 19:13 29 Mar 2011

an i.s.a. that isnt moved about to extract the highest current rate,is-be the bank allowed to rot away at .01% A.P.R. according to the news,
just as everything in life,inertia has its own rewards,
i took my isa out years ago,and put them into self-select shares I.S.A.
i would rather gamble with my own judgement,and the risks ,(up and downs of the market) than to accept a crummy .01%
remember APR,s of 3.5% fair badly,against inflation of 5%

  Terry Brown 21:00 29 Mar 2011

This year I will be using Barclays GOLD ISA again as the rate is GUARRANTEED (3.25%) for the year , not variable.

  BT 08:28 30 Mar 2011

The main problem is not many of the larger banks allow transfers IN to new ISAs so you have to start a new one. There are ISAs that allow transfers in but you have to search around for them.

  HondaMan 09:42 30 Mar 2011

I don't know who your isa's are with but mine are paying 2.3%

  Grey Goo 10:02 30 Mar 2011

Actually it is variable, however you will benefit from any BoE interest rate rise which is almost a certainty by the Summer.

  QuizMan 10:13 30 Mar 2011

Equally galling are the financial institutions that bring out new products, but only for new money. They will not allow transfers from existing deposits.

  BT 17:08 30 Mar 2011

That's what I was getting at in my last post.

I know there are a number around, but what I was saying was, as QuizMan says, new products are usually only for new money. Its how the banks etc stop you transferring larger amounts into the better paying new products so that they only have to pay the higher rates on a maximum of one years ISA allowance. The introductory rate then drops back after a year to more or less what you can get almost anywhere.

For example
Barclays Golden ISAs

Issue 1 now paying 2.25% AER
Issue 2 " " 2.08% AER
Issue 3 ( New one) 3.25% AER for 1 year with bonus

  Grey Goo 17:15 30 Mar 2011

You may want to look at Halifax. Not over startling but you can transfer in and there are unlimited withdrawls. Currently 3%

This thread is now locked and can not be replied to.

Elsewhere on IDG sites

Dell XPS 13 9370 (2018) review

Best Keyboards for Designers & Artists

What to ask Siri on the HomePod

Meilleurs VPN (2018)