Martin Lewis has issued a warning to anyone with a cash ISA, saying millions are being underpaid. The MoneySavingExpert has issued his latest advice in a newsletter.
The tax-free savings accounts mean customers pay no tax on the interest they earn on their savings. However, Martin has said anyone thinking of opening an ISA should carry out three important checks.
LancsLive reports for most people normal savings accounts '"beat" cash ISAs. This is because your Personal Savings Allowance means that you would need to have £34,500, or £17,500 if you're in the higher tax bracket, in a top easy-access savings account before you earned enough interest to start being taxed on it.
