NS&I changes its direct ISAs
www.moneynews.co.uk > Banking > NS&I changes its direct ISAs
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NS&I changes its direct ISAs
Tue 3rd Feb 2009
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The savings account provider has announced that it will reduce the minimum transactions needed for its direct ISAs, including the minimum deposit needed by customers to open a new account.
NS&I minimum initial investment has been lowered to £100 from £1,000 and the minimum withdrawal is now £50, reduced from £250.
Peter Cornish, director of customer offer at NS&I, said that the direct ISA, which enables customers to bank by internet or phone, is currently proving popular.
He added: "We've been looking at ways to simplify our product range for some time."
NS&I, which unlike many savings account providers is backed by the Treasury, claims to offer savings accounts that are 100 per cent secure.
The bank began life in 1861 under prime minister Palmerstone as the Post Office Savings Bank.
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