i.s.a. rip off

  bonmol 19:13 29 Mar 11
Locked

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 11

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

  BT 08:28 30 Mar 11

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 11

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

  Grey Goo 10:02 30 Mar 11

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 11

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 11

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

spider9
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 11

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

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