Cash ISAs

Transfer your Cash ISAs to HL

If you have Cash ISAs we can offer you two options:

Why the HL Vantage Cash ISA

Integrity

A common complaint with Cash ISAs is that some banks attract savers into top of the table interest rates, only to drop their rates later. Then they launch a series of Cash ISAs – with different names and different rates – so discovering what you actually receive is never easy.

The HL Vantage Cash ISA is different

Our Cash ISA is a simple, honest account with the interest pegged to a completely independent measure. You don’t get much more independent than the Bank of England Base Rate.

This means you know that the interest you receive will always be within 0.25% of the Base Rate and if we ever have to change this, we will let you know.

In the meantime investing in the Vantage Cash ISA gives us your mandate to negotiate even better rates and if we can improve them, we shall.

• See our current rates of interest

The benefits don’t end there

Convenience – See all your Cash ISAs on your six monthly valuations along with your other investments and you can access your money whenever you need. Simply drop us a line and we shall send you a cheque.

Flexibility – The new ISA rules allow you to transfer Cash ISAs into Stocks and Shares ISAs (once you have done this it cannot be reversed). If you decide to take advantage of this new freedom, having all your investments in one place will make it easier.

Service - As part of the Vantage Service you deal with only one company, one online account and our Help Desk, based in our Bristol offices, are here to answer any queries you may have.

Security - Your money is held through the Vantage Service with secure financial institutions with excellent credit ratings such as Lloyds TSB and the Bank of Scotland.

Income or Growth – If you want to take the interest as income, indicate this on your transfer form and we shall pay it directly into your bank account once a month. Otherwise it will simply roll up, tax-free, within your ISA.

Who can invest?

Anyone can transfer existing Cash ISAs into the Vantage Service. But currently we cannot accept new investments so if you are saving regularly into a Cash ISA for this tax year, please do not transfer that ISA to the Vantage Cash ISA.

You can transfer as many Cash ISAs as you like, all we ask is that the ISAs you transfer are together worth more than £5,000.

To take advantage of our Base Rate tracker simply read the Terms and Conditions then download the Cash ISA transfer form, tell us who manages your ISAs then sign, date and return it to us. We will then contact your current manager, arrange for your Cash ISAs to be transferred to us and write to you again when the transfer is complete.

• Download a Cash ISA transfer form

Please note that TOISAs (TESSA ONLY ISAs) have been renamed Cash ISAs. Therefore you can now switch your old TOISAs into the Vantage Cash ISA or move them into the Vantage Stocks and Shares ISA.

Turn your savings into an investment

Another feature of the new ISA rules is that you can now transfer any Cash ISAs you hold into Stocks and Shares ISAs, but not vice versa. However, unlike stock market investments, Cash ISAs offer immediate access and your capital is guaranteed. Furthermore within Cash ISAs you receive your interest gross, but while you hold cash in a Stocks and Shares ISA the interest is effectively paid net.

That said, historically, stock market investments have delivered superior returns when compared with cash over the longer term, but they can fall in value as well as rise. If you are interested in transferring your Cash ISA into the Vantage Stocks and Shares ISA please download the Stocks and Shares ISA Transfer form.

• Download a Stocks and Shares ISA transfer form

If you have any questions please don’t hesitate to call our Help Desk, who are also able to put you in touch with an adviser if you have any doubts as to the suitability of the Vantage Service for your circumstances.