i was reading an article today that pointed out that very few Britains are taking full advantage of our Isa allowances, and even those that are could be making more money if they watched the market and switched between providers more often to maximise their interest rates. Expats don’t have access to new Isa accounts but could manage any existing ones better:

“Those expats who have Isa savings taken out before they left Britain should keep a keen eye on what is on offer at present, as they can move their money from one Isa provider to another to ensure they always get the best rate. Yet nearly 90 per cent of those who have existing Isas have failed to switch providers, despite knowing there is a better rate available elsewhere, and a quarter say they cannot be bothered to switch, according to research.”

“Over a quarter of savers questioned did not realise it was possible to switch Isa providers and one in six thought it was only an option at the end of the tax year. Many are misinformed about the Isa transfer market, with one in four believing they would be charged an exit penalty to change providers and one in six not realising they could transfer their full balance.”

Interesting, particularly as today’s budget has just increased the yearly amount you can invest in a cash Isa from £3000 to £3600.

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