b`ham midshires have advised me that my isa is about to mature so i will no longer be getting interest at 6.15%. however they have generously offered me the opportunity to transfer the proceeds into a "direct isa" paying me 1.5% or a 1 year fix at 2.5%. wow - hold the front page !! i already have an instant phone extra a/c with them paying 3.15% and i can open a 3 yr bond paying 4.65% with a 90 day notice penalty. so, what is the point of them offering isa`s really ?????? seems to me im better off just paying the tax and moving my savings about to get the best rates, even if i sustain a w/d penalty at times.

as it happens im a non-taxpayer at present but i did want to keep my savings tax sheltered because, hopefully, my situation will change in the future. im damn sure the chancellor didnt intend that the banks offer lower rates on their isas than on instant cash accounts - even sainsburys are offering 3.2% for an online instant account !!