Nothing to Smile about

By JO THORNHILL
Updated: 00:00 BST, 22 May 2002

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SMILE has dropped the 利益／興味 率 on its 小型の cash Isa for thousands of savers - at a 一打／打撃 transforming its 製品 from one of the highest 支払う／賃金ing on the market to one of the lowest.

The internet bank, owned by Co-op, is cutting the 率 to 4.00% from 4.25% for those 顧客s who don't have a Smile 経常収支. It 拒絶する／低下するs to say how many of its 500,000 顧客s are 攻撃する，衝突する, but says, perversely, that the 計画（する） is part of its 運動 to reward 忠義.

'現在の ac counts are 重要な to internet banking so we're rewarding those 顧客s with the best Isa 率s,' says 広報担当者 Dave Smith.

He 追加するs that Smile has operated a 類似の tiered approach for saving and credit card 顧客s since its 開始する，打ち上げる in 1999 - いわゆる '関係 pricing'.

The Isa move is an 拡張 of that. So does it follow that Smile will also adjust 率s on other offerings, such as personal 貸付金s and 保険? Smith says there are no 計画（する）s 現在／一般に, 'although we're committed to 関係 pricing'.

News of the 率 削減（する） was emailed to 顧客s, and took 影響 on Tuesday. Smile last 削除するd its 率 in January, from 4.75%. Smith 追加するs that Smile doesn't 課す a 刑罰，罰則 if you want to switch.

There are plenty of better 取引，協定s 利用できる. Most Isa providers have 削減（する） 率s in line with Bank of England's Base 率 削減（する）s in 2001. But you can still find 率s of 4.30% and 4.25% on the High Street, 特に の中で 相互のs. See our best 率s （米）棚上げする／（英）提議する for the 最高の，を越す 支払う／賃金ing Isa providers.

Savers can switch their money to a better 支払う／賃金ing Isa account after the start of the 税金 year. However, it is important to follow the Inland 歳入's 支配するs so that you don't lose the 税金 break on your cash. This means getting the banks and building societies to do the work for you.

Isa providers must 移転 the cash to the new Isa 経営者／支配人 on your に代わって. If the money is transferred 支援する to the 投資家 or you just draw out your money and の近くに the account, this will be 扱う／治療するd as a 撤退 - not a 移転, and you'll lose the 税金 避難所. For this 推論する／理由 you must not の近くに your account or take a cheque from one provider to another.

And remember cash Isas must be transferred into other cash Isa accounts. It is not possible to 移転 them into maxi Isas.

If you have an instant 接近 cash Isa you shouldn't be 告発（する），告訴（する）／料金d a 刑罰，罰則 to move your money, but ask your provider about 告発（する），告訴（する）／料金s and their 支配するs on 移転s. For example, Cheltenham & Glouces ter 告発（する），告訴（する）／料金s £30 to 移転 out.

After you have selected your new provider make sure that they can 受託する your 移転 - not all will. The 移転 typically takes up to three weeks. But the good news is you should earn 利益／興味 from your new provider during this time.

? Tell us what you think about Smile Bank and its cash Isa 政策 on our Message boards.