Any Advice Appreciated - Banks/Isa's

[zipadeedodah]

I currently have a current account with HSBC, and have done for many years since I was about 11. I have roughly �4000 - �5000 that I will need to pay into somewhere in a few weeks. I am going to talk to someone at my bank, but I was wondering what sort of interest rates to look out for for an ISA. Also, knowing me I would be likely to stick with my bank just because it's easier -how straightforward is it to change banks altogether? If another bank offers a better option I may switch current accounts too. How do you go about this?

Thanks

[scotstone]

Why don't you open an account with ING and transfer any spare money into this account paying 4.5% at the moment.
When you require this money for any purpose it is easy to transfer it back to HSBC but there will be a 3 day delay for clearance.
The interest rates for an ISA are about 5% but are really for long term.
If you want to change banks just go to your new chosen bank and they will arrange the transfer. I don't know how easy is this process as I have stuck with HSBC for 40 years!!!

[Ethel]

Current account - I highly recomend Alliance and Leciester.

They pay 5% on the first �2500 - excellent for a current account.

You can apply on-line and they do it all for you - it is totally painless and your direct debits, regular credits and so on will be transferred by them for you.

Also a free overdraft for the first 12 months. You can apply on-line.

If you pay a minimum of �500 per month in to the account (you can spend it straight away!) you can open a regular savers account (also online) that pays 10% interest.

If you are at tax payer, an ISA is an excellent idea. Expect at least 5% interest on an instant access ISA.

Info on swapping current accounts:

http://www.moneysavingexpert.com/cgi-bin/viewn ews.cgi?newsid1109610116,88950,

There is also a link for best savings accounts on that site too.

[zipadeedodah]

Thanks very much both of you! Very useful answers.