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Grumblewagon
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14-01-2015, 10:45 AM
11

Re: Savings Interest Rates

Ah Mups, many a true word was spoken in jest. We retired (or at least stopped paid employment) in our mid 50's and at that time our savings were earning £4k-£5k a year in interest which topped up my occupational pension. Now of course, the interest is virtually non-existant, prices have risen and so we've had to draw down on our savings.

Before anyone jumps up and down, I'm not complaining. I'm in a better position than many, but it just shows how quickly things can change and catch you out.
Based on the fact that you can't accurately predict what will happen in future, I would say "Don't retire early without a good financial buffer".
2wheeler
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14-01-2015, 10:57 AM
12

Re: Savings Interest Rates

It´s OK - no worries - the country is going into deflation mode, so we´re all going to be rich....
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stevmk2
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14-01-2015, 06:57 PM
13

Re: Savings Interest Rates

Sorry realspeed - I didn't make it as clear as I thought!

I will only put money in Cash ISAs as I can't afford to lock anything away for long periods with a notice period to withdraw.

My current Nationwide Cash ISA expires at the end of this month and there is a newer one that gives the same interest rate as my old one but you cannot transfer-in.

I've decided that I will have to start from scratch with the new one and leave my money in the old one as it will still get 0.50% interest and we will be using nearly all of it for our holiday in September this year. stevmk2
realspeed
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14-01-2015, 07:45 PM
14

Re: Savings Interest Rates

steve
from

http://www.nationwide.co.uk/products...nsfer-your-isa

ISA Transfers

It's possible to transfer your ISAs from one provider to another, or from one ISA to another ISA with the same provider.
Since 1 July 2014, transferring your ISA has never been more flexible, as you are now able to transfer money from a Stocks & Shares ISA into a cash ISA.
Please note, we can't accept transfers of Stocks & Shares ISAs from other providers to the Stocks & Shares ISA provided through us.
Why should I transfer?

You may find that your old ISAs are on a low rate. This may be the case if you have a variable cash ISA, or your fixed rate ISA has matured and has been moved into a lower rate account.
To make sure you benefit from the best rates, you could transfer these ISAs to one with a higher rate, or one that better suits your needs



Please note that not all ISA accounts accept transfers in so you may need to shop around to find the right one for you.


Did you have a look at the link i posted.

the Isa we have allows one annual withdrawal without loss of interest, there are others with different arrangemments to suit you
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stevmk2
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15-01-2015, 03:09 PM
15

Re: Savings Interest Rates

Originally Posted by realspeed ->
steve
from
http://www.nationwide.co.uk/products...nsfer-your-isa
ISA Transfers
It's possible to transfer your ISAs from one provider to another, or from one ISA to another ISA with the same provider.
Since 1 July 2014, transferring your ISA has never been more flexible, as you are now able to transfer money from a Stocks & Shares ISA into a cash ISA.
Please note, we can't accept transfers of Stocks & Shares ISAs from other providers to the Stocks & Shares ISA provided through us.
Why should I transfer?
You may find that your old ISAs are on a low rate. This may be the case if you have a variable cash ISA, or your fixed rate ISA has matured and has been moved into a lower rate account.
To make sure you benefit from the best rates, you could transfer these ISAs to one with a higher rate, or one that better suits your needs

Please note that not all ISA accounts accept transfers in so you may need to shop around to find the right one for you.
Did you have a look at the link i posted.
the Isa we have allows one annual withdrawal without loss of interest, there are others with different arrangemments to suit you
Sorry but you still seem to be misunderstanding realspeed.

I have an Instant Access CASH ISA that expires Jan31st and goes down to 0.50% interest only.

I prefer to have Instant Access CASH ISAs just in case we need the money in a hurry because we've had that situation several times.

The only new Instant Access CASH ISA Nationwide is doing now with a DECENT INTEREST RATE of 1.50% doesn't accept transfers-in.

What I've decided to do is leave the money in the Web ISA until we need it for our holiday and open a Flexclusive Instant Access CASH ISA with what I can scrape up now then - hopefully - add to that for at least a year as often as I can before they terminate THAT one. OK? stevmk2
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15-01-2015, 05:19 PM
16

Re: Savings Interest Rates

doesn't accept transfers-in.

transfer-in is different from complete removal of funds from one account and starting up another new one with same on another provider
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Honey
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Lancashire
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15-01-2015, 05:26 PM
17

Re: Savings Interest Rates

Originally Posted by stevmk2 ->
Sorry but you still seem to be misunderstanding realspeed.

I have an Instant Access CASH ISA that expires Jan31st and goes down to 0.50% interest only.

I prefer to have Instant Access CASH ISAs just in case we need the money in a hurry because we've had that situation several times.

The only new Instant Access CASH ISA Nationwide is doing now with a DECENT INTEREST RATE of 1.50% doesn't accept transfers-in.

What I've decided to do is leave the money in the Web ISA until we need it for our holiday and open a Flexclusive Instant Access CASH ISA with what I can scrape up now then - hopefully - add to that for at least a year as often as I can before they terminate THAT one. OK? stevmk2
Can you transfer your web ISA to a Flexclusive ISA? I understand they don't accept transfers in but that may mean from other providers, have you discussed your position with an advisor?
sue_arnold
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15-01-2015, 07:14 PM
18

Re: Savings Interest Rates

Originally Posted by stevmk2 ->
Sorry but you still seem to be misunderstanding realspeed.

I have an Instant Access CASH ISA that expires Jan31st and goes down to 0.50% interest only.

I prefer to have Instant Access CASH ISAs just in case we need the money in a hurry because we've had that situation several times.

The only new Instant Access CASH ISA Nationwide is doing now with a DECENT INTEREST RATE of 1.50% doesn't accept transfers-in.

What I've decided to do is leave the money in the Web ISA until we need it for our holiday and open a Flexclusive Instant Access CASH ISA with what I can scrape up now then - hopefully - add to that for at least a year as often as I can before they terminate THAT one. OK? stevmk2
What RS is trying to tell you which you cant seem to grasp is.

Any ISA CAN be transferred to ANOTHER provider.
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stevmk2
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15-01-2015, 07:34 PM
19

Re: Savings Interest Rates

Originally Posted by sue_arnold ->
What RS is trying to tell you which you cant seem to grasp is.
Any ISA CAN be transferred to ANOTHER provider.
I understood that part perfectly well thank you sue but I do not want to transfer to another provider!.

I was talking purely about Nationwide CASH ISAs.

If you look around at the opposition there's not a lot of difference and I prefer to use banks or building societies where there is a branch nearby because I can't use telephones. stevmk2
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Honey
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15-01-2015, 07:40 PM
20

Re: Savings Interest Rates

accounts can be set up via the internet, I've done it several times without needing to call them
 
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