New Advantage Cash ISA option from M&S Money

M&S Money is launching its new Advantage Cash ISA option.  It's simple and clear, with a competitive rate of 3.00% AER/tax-free, without any short-term bonus that's only available for a limited time.

The Advantage Cash ISA option allows tax-free savings up to the Cash ISA allowance (£5,340 this tax year), giving customers time to top up any existing ISAs.  M&S Money also accept transfers from other ISA providers allowing customers to take advantage for all their Cash ISA savings.

Ways for customers to save:

Save from £25 a month by Direct Debit, or £100 lump sum

Unlimited transfers from other Cash ISA providers

Penalty-free withdrawals - after the Cash ISA allowance is reached within the tax-year, and money is subsequently withdrawn, it can't be replaced by further top-ups within that tax year

Options for existing customers:

Advantage Cash ISA customers' rates will automatically increase to 3.00%  AER/tax-free

Flexi Cash ISA customers can switch to the new Advantage rate

Fixed rate maturities can transfer to a new fixed rate issue or Advantage Cash ISA

Fleur Carruthers, Savings and Investments Manager, said; "We have listened to customers and our new release Advantage Cash ISA offers a great variable rate, without the worry of a short-term bonus that will expire. We have kept it simple and straightforward - just what you'd expect from M&S.

"We hope that keeping Advantage Cash ISA simple will reassure customers that their tax-free money is in safe hands.  We have handled thousands of ISA transfers from other providers in recent years, so customers can be confident that transferring their other ISAs to us will also be simple and straightforward."