Nationwide: Brits fail to take advantage of Isas

Money News

www.moneynews.co.uk > Banking > Nationwide: Brits fail to take advantage of Isas

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Nationwide: Brits fail to take advantage of Isas

Two-thirds of Brits (62 per cent) still do not have an individual savings account (Isa), according to new research from Nationwide Building Society.

Of those that said they did not have an Isa, half cited a lack of funds as the main reason.

Meanwhile, 18 per cent wanted instant access to their money but believed that would not be possible if they put it in an Isa and 17 per cent admitted to simply not understanding how the accounts work.

However, Nationwide found that a third of people who do not have an Isa save up to £1,000 a year elsewhere, meaning they are giving money to the taxman unnecessarily.

The building society has suggested that the government's failure to introduce any "additional flexibility" into the savings regime may be partly to blame.

Matthew Carter, director for savings at Nationwide, said: "We look to the government to take action and encourage more people to use their Isa allowance and listen to the industry."

A number of leading Isa providers called on Chancellor Alistair Darling to do more to encourage people to save before last week's Budget.
ADNFCR-323-ID-18512680-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Nationwide

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet