Ah, the video I've been waiting for 🙏 but a quick question, what about fees on these? I went to look at plum and they charge 2.99 per month for the cash ISA! well that's what i was picking up anyway. So I'm now comparing with predicted absolute earnings not just based on % rate
Im planning to put my a portion of my saving to Barclays Flexible ISA 1yr. I would like to know if I can get and or withdraw all my money after the 1yr contract?
Still not clear on if i can split this years 20k allowance into more than one cash isa? Hunt said i could but Treasury, banks and building soc say i cant. What is going on?😢
Each provider has it's own policies and rules regarding ISAs. Some won't accept partial transfer and would rather want you to transfer all the funds in a particular financial year while others wouldn't mind likewise some provider won't want you splitting funds with others and would want to be your only provider for that tax year.
whats your view regarding likely rate drops on variable accounts within the next 1-2 years? The lower starting rates on the fixed could work out if rates drop a couple of quarter points
Hi, probably a straightforward question, I just opened the Zopa Cash ISA, is it allowed to put £20k into it and also transfer my existing ISA funds from another bank which matures on 1st May into that? Thanks.
Under the isa rules are you allowed to move a existing isa which is over 12 month old with out adding any additional money in to it in the same tax year a opening a full new 20,000 cash isa in that same tax year & will I still be with in the isa rules.
Hi, you can move any of your full previous year ISA into another ISA and it won't count towards your current year ISA. For instance if you have £20000 in previous year ISA let's say 2023/2024, this can be transferred into another ISA regardless who the provider is. This action won't affect your current year allowance. Hence you can still open up to £20000 for 2024/2025 tax year
This might sound like a stupid question, but how come the big banks don't offer better rates than these smaller banks?. I thought the market would be much more competitive to get your cash. I watch a similar youtube channel but about car insurance and it's always the big ones do the best offers!
The small banks have to offer more to get ANY customers, the bigger banks offer LESS because they keep anything they didn't give to you and can assume most of their customers won't leave even if there is a better option elsewhere.
Whats more funny is that locking your money for 5 years instead of giving you premium for locking your money gets you penalty of over 1% point. They must expect the rates to drop soon.
Yes, you can transfer a cash ISA to a stocks and shares ISA but note when you do so you won't lose your existing tax allowance and you don't have to transfer all. First speak to the new provider, ask if they can accept previous year isa though.
Another way to put this, "Yes you can for the same previous year". E.g 2022/2023 cash ISA can be transferred to another provider and changed to stocks& shares for 2022/2023. However if you don't have cash for the current year you may withdraw from your cash ISA then open a stocks & shares ISA for the current year . You will lose your previous year's allowance if you do the latter
sorry, I am planning on taking their 4.44% monthly pay out into an external account to avoid the tax, so is it worth taking or better off try and hope for a better rate? @@JB-wz8id
From the 1st July 2024, Barclays are limiting how much cash you can pay into YOUR CASH account (non ISA) to £20 000 per annum. The end of cash is coming.
I tried to transfer £20,000 from Barclays to a new ISA and it wouldn’t let me £5,000 limit; so I had to do it in a different way. Barclays won’t let you transfer your own money currently……this needs to be investigated further.
