Barclays Wealth to cut short Guaranteed FTSE Account
Barclays Wealth has announced that it will discontinue its tax-free, six-year Guaranteed FTSE Account on April 4 due to changes in Isa rules.
The account is an equity-linked deposit tracking the FTSE 100 index and provides a 20% minimum return if held until maturity, as well as the potential to receive a stepped bonus of up to 22.5%. However, the new Isa rules render the account unsuitable.
The new rules, which come into force on April 6, state that Isa savers will be able to transfer money saved in their cash Isa into their stocks and shares Isa. The product is still useful for advisors who want to retain cash Isa flexibility as it
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