I inherited some money from my grandmother. At the moment I have it in a Flex Saver account, but was wondering if there was a better option - I don't really understand what an ISA is, could someone please explain it to me, or suggest a better account for the money?
What is the best type of savings account to use?
Money market. Or a savings account not at a bank but with an investment house such as ING.
http://www.ingdirect.com/
Reply:an ISA is a tax free savings account,for savings up to 拢3000 per year,but you could open a E-savings account,say with Nat west,interest is calculated daily, and added to your account each month,at about 6%
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