Many customers 'do not realise the Isa rates on offer'

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Many customers 'do not realise the Isa rates on offer'

Thu 13th May 2010

There are a great deal of competitive Isa interest rates on the market, which many savers simply do not seem to know about, a sector expert has asserted.

Julie Smith, a representative from the Fair Investment Company, suggested that some consumers may be worried that it is difficult to transfer an Isa, so they decide to leave their money in the same one.

She explained that there are plenty of top rates going on the market currently that people need not put up with interest as low as 0.1 per cent in some cases.

Ms Smith remarked: "So many savers are losing out by leaving their cash in low paying accounts when a simple transfer is all they need to do to start earning better returns on their money."

Fair Investment Company director David Doulton recently described the decision by the Bank of England to maintain the base rate at 0.5 per cent as "not a surprise".

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