Top Cash Isas to transfer your cash to

If your Cash ISA's rate has plummeted due to the falling base rate, don't just put up with it - shift that cash today!

Interest rates on Cash ISAs and savings accounts are depressingly low at the moment, with many of last year's table-toppers now paying a pitiful 1% or less, meaning that when you take into account inflation you could actually be losing money. Aarrgghh! If you have a rainy day fund you've worked hard to build up it's essential to ensure it's earning every penny of interest it possibly can.

Base rate has dropped by 4.25% in the last 12 months

The thing is (according to research by Egg) despite the Bank of England having reduced the base rate by a whopping 4.25% since this time last year, seven out of ten of us have not moved or spread savings during this time. What's more, a whopping 24 million of us have no idea how much interest our savings are currently earning. Blimey!

So what's our excuse? Lack of time? Lethargy? Although it's a pain it's vital to keep on top of the rate our savings are earning and be prepared to move that cash if we want to make each pound work as hard as it can. And the good thing is that it doesn't need to take long.

Set aside an hour a week

Why not try and pencil in a lunch hour/evening/ regular time each week to quickly check the rate your Cash ISA/savings account is paying (either check out your provider's website or give them a call)? Cross check with a best-buy comparison table and if your rate slips below the table-toppers by a certain percentage, make it your priority to move that cash. If you make it part of your weekly routine it should take very little time, and you'll always be in the know.

To get you started, I've been researching the top cash ISAs available right now that you can transfer existing ISAs to:

Top, Instant Access Cash ISAs that Accept Transfers

Source: Moneyfacts

As you can see, heading the best buy table is NatWest's eISA, paying 3.51% to those with £10k or more to transfer and 3.25% to everyone else. But note: you have to open an instant access savings account at the same time and the online application process can be a bit complicated - you may find it easier to give them a call or print out your forms and apply in branch.

Halifax is the only provider to guarantee its rate for 12 months, but it is not without catches. If you think you'll need to make more than four withdrawals per year it could pay to look elsewhere.

Interest paid away

And the NatWest and Manchester BS accounts are the only two to allow interest to be paid away to another bank account, useful if you use this to supplement your income.

Only 5 weeks to use up our 2008/9 ISA allowance

Of course, there may be a few people reading this who have never taken out a Cash ISA in their lives, but it's certainly not too late to start. We have until 5 April (less than 5 weeks) to use up our 2008/9 allowance and stash up to £3,600 away, tax free, so don't delay! Remember, even if you don't pay tax on your savings now, by keeping your money in an ISA it will be protected in the future should you ever become a taxpayer.

Top paying instant access accounts for new money include those listed above. However, additionally you can apply for Abbey's Reward ISA, paying 3.5% AER (although 2% of this is a bonus that is only payable if you make now withdrawals in 12 months) or ING's Direct Cash ISA, paying 3%AER (inc. a 1.47% bonus fixed for 12 months).

So don't hang about - move that cash and keep as much of your money out of Mr Darling's pocket as you can!

Find out more about Cash ISAs| Why ISAs are still worth it