Isa

[Connemmara]

I had a £1,000 in an ISA account with Santander on line - now my friend told me about this advert 123 current account you would get more interest in putting into the current account. I then shifted the £1,000 back to current acount. Have I done the right thing since to my knowledge the ISAs are making little interest. Thanks for any replies

[Sipowicz]

I would wait for the new tax year, choose the ISA with the best rate that accepts transfers. See the link for detailed advice.
http://www.moneysavingexpert.com/savings/best-cash-isa

[Connemmara]

sipo looked at the money expert know Martin - he sends me an email but sure I never look at them. When is the new tax year - this is the last posting.

[SlackAlice]

^^^
I'd go for that advice as well. I'm waiting for the new tax year to start my switching.

[furrypusscat]

6th April.

[Sipowicz]

April 5th starts the new tax year, good luck!

[Connemmara]

sorry but when is the new tax year is it the 1st April is that correct.

[boxtops]

You can't put the money back in the ISA this year, you'd have to way until after 6 April. The ISA, IMO, is not so much about interest rates as not paying tax on the interest. In the current account, you'll be paying tax - I wouldn't have advised you to move it.

[Sipowicz]

furrypusscat is correct, 6th April.

[Connemmara]

thanks everybody for your replies. Will see about my £8,000 after 6 April that will stick in my head cos it is my brother's first anniversary so I'll be thinking of him on that day

[Gizmonster]

The Halifax have a good rate at the mo:

3% fixed for 3 years.
http://www.halifax.co.uk/savings/accounts/cash-isas/isa-saver-fixed/

If you keep your Santander current account, you can get a rate of 3% fixed for 2 years. Bear in mind though, there's a charge of £2 per month for the 123 accouint (I hope you're aware of that):

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1210607970481&empr=Abbeycom&leng=en_GB&;amp;pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateY2

[factor-fiction]

A lot of people seem to overlook the £2 a month charge on teh 123 accounts. This charge negates many or all of the benefits from their 123 cashback credit card too

[Sipowicz]

I agree with you about the credit card factor, mine was free for the first year, after that, I'll cancel. The various cash backs on the current account more than cover the £2 monthly charge. As I don't pay tax, I'll be getting 3% interest, payed monthly. When my various ISAs mature, they'll be going into the current account, plus instant access! If you don't pay tax, I'd go for this account.