Hello,
I have had an M&S Money Tracker cash ISA for 3 years or so, with a value of about £3800 on the last statement.
I had some propaganda through the mail this week saying the interest rate on this is now 1%.
In the same letter they are advocating a new "Advantage Cash ISA" offering a
3.1% bonus rate for incoming cash transfers from other ISA's. With the statement: "Please note you will be unable to switch any balance held in our Tracker Cash ISA option to the new Advantage Cash ISA option".Is this genuine?
I find it so unbelievable that they would explicitly stitch up their own customers, whilst offering premium rates for "new money" that I am now completely determined to move this money to another provider.
david