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BSA backs cash ISA

The Building Societies Association has backed the Treasury&#39s recent Cat-standard proposals for cash individual savings accounts.


BSA believes Cat-standards for cash isas will reassure inexperienced savers in an increasingly complex and crowded savings market.


The Cat-standard cash ISAs stipulate no charges, a minimum transaction size no greater than £10, withdrawals within seven working days and interest rates no lower than 2 per cent below base rate.

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