Cash Isas fail to keep up rates

None of the direct access mini-cash Isas which were in the top 10 by yield at launch in 1999 remain in the top 10 in 2003, according to data from Intelligent Finance (IF). Only two of the top 10 paying accounts stayed more than a year in the peer group after the tax-wrapper vehicle first came onto the market. Banks and building societies are benefiting from consumer inertia in the Isa market, as only 5% of investors surveyed have ever switched their Isa provider. There is a propensity for the accounts to become less competitive once providers are no longer pushing to build up an investo...