Mar 26 2007
Those about to take up a cash individual savings account (Isa) may benefit from shopping around and carefully deciding which product is most suitable, it is suggested.
According to Abbey, average transfer amounts can vary with each financial provider and savers could get more for their money if they compare products.
And as the average figure moved into a cash Isa on an annual basis is £12,000, those who plan to switch should look for deals which allow transfers of existing funds.
"Many headline Isas do not allow transfers in," said Reza Attar-Zadeh, savings and investments head at Abbey.
"The majority of cash Isa investors - who invest year after year -would be better off opting for an account that allows them to transfer their existing cash ISA money," he continued.
Isas can typically consist of cash investments or longer-term options such as stocks and shares.
Mini and Maxi Isas apply different rules to saving but it is not permitted to invest in both during the same year.
