Moneynet warns of the demise of top cash ISAs

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Moneynet warns of the demise of top cash ISAs

Price comparison website Moneynet has warned that some of the more appealing cash ISAs on the market have fast been disappearing in recent weeks.

It points out the Barclays Golden ISA has now withdrawn the one per cent bonus it was previously offering to new customers and its AER of 3.61 has been reduced to 2.58.

Also off the table is the Halifax Direct Reward ISA, which offered a three per cent fixed-rate for three months and four penalty-free withdrawals annually, but was cancelled as of May 31st.

Yet another example of the narrowing of the market, the firm adds, is first direct's decision to pull its e-ISA, which had a fixed-rate of 3.06 per cent, instead replacing it with an account offering a fixed-rate of 1.98 per cent.

Last month, Leeds Building Society pointed out that its Best Buy ISA offers a rate of 6.67 per cent - more than 13 times higher than the current 0.5 per cent base rate.

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