Cash ISA Mark
The FairLife Cash ISA Mark has been created to ensure that FairLife Cash ISAs cannot become 'zombie accounts', offering poor interest rates, relative to the providers' other accounts. The criteria of the mark are worded to prevent firms totally collapsing the rates on FairLife Cash ISAs whilst using high rates to attract fresh capital into new cash ISA products.
Firms carrying the Mark today are demonstrating, in a highly visible manner, their commitment to putting the wellbeing of the public at the heart of their business. The scope and effectiveness of the Mark may increase over time.
Any customers who feel they might leave their ISA cash invested without monitoring the interest rate will be encouraged by the FairLife Foundation, its Trustees, supporters and underlying charities to consider a FairLife Cash ISA as doing so should limit their downside risk. Customers will also be encouraged to consider FairLife Cash ISAs as additional benefits may accrue as the charity grows and encompasses other areas of finance.
For the Criteria of the mark click here
To download a summary of the mark click here
To download a licence for the mark