High street banks are yet to introduce some of the changes as they did not get HMRC guidance until the day they came into effect
People looking to take advantage of the new Independent Savings Account rules that give greater freedom to savers will struggle to find any major bank following them, as no high street banks are currently offering partial transfers or multiple accounts to their customers.
A UK Finance spokesperson said: “ISA providers were only given the final guidance needed to roll out the new optional changes on 6 April. A spokesperson for HSBC said: “We welcome the government’s reforms and support their aim to increase consumer choice and understanding of ISAs. Whilst we are not in a position to implement the non-mandatory changes right now, we will consider implementing them in the future.”
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