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Saltyrob
Posted: 01 November 2023 18:15:19(UTC)
#1

Joined: 10/11/2012(UTC)
Posts: 166
Hi Folks,

I am posting this on behalf of an elderly friend who struggles with IT. Does any one know if there is an active ISA savings account. He wants to transfer a considerable amount of money from a shares isa into isa cash accounts with immediate access and a ladder of 1 to 4 year fixed rates .

Many thanks,

SR
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SSJ
Posted: 01 November 2023 19:50:31(UTC)
#2

Joined: 13/09/2010(UTC)
Posts: 512

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I don't know what you and he mean by "active" - are you referring to HL's "Active Savings account"? If so, they don't have any variety with their cash ISA accounts, just one instant access account (and to which you can't transfer Stocks and Shares ISAs).
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Saltyrob on 02/11/2023(UTC)
The Pink Panther
Posted: 01 November 2023 20:48:33(UTC)
#3

Joined: 09/01/2023(UTC)
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Saltyrob;284604 wrote:
Hi Folks,

I am posting this on behalf of an elderly friend who struggles with IT. Does any one know if there is an active ISA savings account. He wants to transfer a considerable amount of money from a shares isa into isa cash accounts with immediate access and a ladder of 1 to 4 year fixed rates .

Many thanks,

SR

Yes. Paragon Bank. They offer an 'ISA wallet' where you can do exactly that - hold multiple different 'issues' within the same ISA. Rates are not as good as they were a couple of months ago.

Nonetheless current offerings are:

FIXED:
1 Year Fixed Rate ISA @ 5.40% (Annually 5.40% or Monthly 5.27%)
18 Month Fixed Rate ISA @ 5.40% (Annually: 5.38% or Monthly 5.27%)
2 Year Fixed Rate ISA @ 5.10% (Annually: 5.10% or Monthly 4.98%)
3 Year Fixed Rate ISA @ 4.80% (Annually: 4.80% or Monthly 4.70%)
5 Year Fixed Rate ISA @ 4.59% (Annually: 4.59% or Monthly 4.50%)

DEFINED ACCESS
Triple Access ISA (up to 3 withdrawals) @ 4.25%
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2 users thanked The Pink Panther for this post.
Tim D on 02/11/2023(UTC), Saltyrob on 02/11/2023(UTC)
stephen_s
Posted: 01 November 2023 21:30:56(UTC)
#4

Joined: 29/01/2020(UTC)
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With regards to an "active ISA" account, you can only contribute to *one* Cash ISA account in each tax year. This is termed your "active" Cash ISA.

If you have no Cash ISA you would have to create one to transfer the S&S ISA into.
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Saltyrob on 02/11/2023(UTC)
Saltyrob
Posted: 02 November 2023 09:49:20(UTC)
#5

Joined: 10/11/2012(UTC)
Posts: 166
Thank you for your responses .The Paragon Bank product looks interesting .There would be issues with with it being internet based but hopefully there may be solutions.

Cheers

SR
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