The market beating cash ISA from Santander that paid 2.7% above the base interest rate (currently 0.5%) has been withdrawn in all but name as savers trying to open an account at their branches will not be able to do so.

Savers trying to open an account will be told that they are fully booked for the day, nor will staff be willing to make an appointment for another day.

The reason why the account has not been officially withdrawn despite the in ability of customers to make appointments to open an account is because Santander from 4th of May 2010 will ADD the condition that customers wanting to open the so called "Flexible" ISA will have to transfer their current account to Santander.

Therefore for the vast majority of potential customers the Santander "IN" FLEXIBLE Cash ISA is NO LONGER AVAILABLE and customers should NOT waste their time trying to open an account. I will update during the weekend on which alternatives are available.

Research conducted 30th April 2010 at Sheffield Branches of Santander

Source:

By Nadeem Walayat

http://www.marketoracle.co.uk

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