Money saving expert Martin Lewis has urged people to close their cash ISA accounts as soon as possible. It comes after he had previously advised the public to open accounts of that type.
Lewis, who is the financial expert and host of ITV's The Martin Lewis Money Show, changed his mind on the account stating that there are many issues with the cash ISAs that now present themselves. Lewis told followers to ditch the account in a post to millions of fans.
At present, people with cash ISAs can save up to £20,000 per person per tax year, but only one cash ISA can be opened each year. Issues with interest are also a key reason behind his change.
