Savers failing to switch ISA accounts once teaser rate expires

Many ISA products with introductory interest rate offers draw in savers but the majority of consumers do not switch to another account later down the line. Consumers are attracted by temporary ISA offers promising a valuable return. ISA savers who fail to switch to accounts with better interest rates are not making the most of their saved cash, according to a consumer watchdog. A poll carried out by Consumer Focus found that two thirds of people who opened a cash ISA account on an introductory bonus rate did not move their money to another account once the teaser rate came to an end.