Halifax cash Isa strategy lauded by moneysupermarket.com
www.moneynews.co.uk > Banking > Halifax cash Isa strategy lauded by moneysupermarket.com
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Halifax cash Isa strategy lauded by moneysupermarket.com
Thu 30th Sep 2010
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Kevin Mountford, head of banking at the website, made his comments regarding the announcement of the Halifax Cash Isa Promise, which aims to stop customers from losing money by cutting the delay involved in switching providers.
He explained that clients will earn interest from their savings from the day their application is received as a result of the pledge.
"Halifax has come out with an industry leading initiative that will hopefully mean a better deal for customers when transferring their cash Isa," said Mr Mountford.
In his opinion, this situation could lead to other providers attempting to simplify their switching processes and make the sector more competitive.
According to Halifax, savers currently lose £24 million each year as a result of delays in switching funds from one product to another, which is why the firm has made its recent promise.
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Related News : Halifax |
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