Product focus: Cash ISAs that accept transfers - Savings - News - Moneyfacts

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Product focus: Cash ISAs that accept transfers

Product focus: Cash ISAs that accept transfers

Category: Savings

Updated: 05/07/2010
First Published: 05/07/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

After a lengthy investigation, The Office of Fair Trading last week came to a number of agreements with the financial industry on issues relating to cash ISAs.

One of the agreements, which will have been music to the ears of frustrated savers with tax-free investments, was to reduce the ISA transfer time to no more than fifteen working days.

Here is a selection of the current best cash ISAs which accept transfers in.

Birmingham Midshires – ISA Extra

This account pays 2.70% on its anniversary including a 1.00% bonus for fifteen months. A monthly interest option is also available at 2.67% including a bonus of 0.98% for fifteen months. Interest is paid after one year, then again when the fifteen month bonus expires and annually thereafter. Savers can invest a minimum of £500. Transfers in are allowed. No notice is required to access funds, although all withdrawals must be made by cheque. The account is available to savers aged 16 and over and can be operated by post only.

Cheltenham & Gloucester – C&G Cash ISA

Cheltenham & Gloucester's Cash ISA pays 2.70% on its anniversary including a 1.70% bonus for twelve months. A monthly interest option is also available at 2.67% including a bonus of 1.68% for twelve months. Minimum investment is just £1. Transfers in are allowed. Funds can be accessed immediately. All postal withdrawals must be made by cheque. The account can be operated by savers aged 16 and over in branch or by post.

Marks & Spencer Money – Flexi Cash ISA

This account pays 2.65% on its anniversary including a bonus of 1.25% for eighteen months. Savers can invest a minimum of £100, although savers who invest monthly by direct debit will need a minimum deposit of £25. Transfers in are allowed. Funds can be accessed immediately without advance notice, although all withdrawals must be made via BACS to a nominated account. Savers can split their full ISA allowance between the Marks & Spencer Money Fixed Rate Options and the variable Cash ISA. The account is available to savers aged 16 and over and can be operated by post or telephone.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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