Yorkshire Building Society overhauls savings accounts as Britons urged to 'protect financial future'

For customers who favour more traditional banking methods, the building society has simultaneously introduced a Five Access ISA offering 3.85 per cent interest, which can be opened at branches or via postal application.

The Four Access EISA permits savers to withdraw funds on up to four separate days during each tax year, while the Five Access ISA extends this to five withdrawal days annually.

Savers can open either account with a deposit as low as £1, making both options highly accessible. Each product allows customers to save up to the present £20,000 annual limit in a tax-efficient manner.

Additionally, both accounts accept transfers from ISAs held in previous tax years, enabling savers to consolidate their holdings.

The building society has designed these products to help customers maintain their savings momentum whilst retaining access to their money when circumstances require it.

ISAs are popular savings products for those looking to protect their cash from the tax man, with up to £20,000 being made tax-free thanks to the product.

Research conducted by Yorkshire Building Society reveals that nearly half of British consumers, around 48 per cent, believe upcoming changes to the ISA allowance will affect them personally.

The findings also indicate that 58 per cent of respondents are unlikely to invest their allowance in stocks and shares before the 2027 reduction takes effect.

Meanwhile, almost half of existing ISA holders, some 49 per cent, intend to utilise any remaining allowance before the current tax year concludes.

These figures underscore why flexible ISA products continue to hold significance for households across the country, particularly as savers weigh their options ahead of the regulatory changes.

To accommodate the busy ISA season, Yorkshire Building Society is extending its availability across multiple channels.

All branches will operate from 9 am to 12 pm on Saturday, April 4, and Saturday, April 11.

The call centre will remain open until 6.30 pm on weekdays between 23 March and 6 April, with additional Saturday hours from 9 am to 2 pm on 4 and 11 April, plus Good Friday and Easter Monday from 9 am to 1 pm.

Tina Hughes, the director of Savings at Yorkshire Building Society, said: "Our new Four Access EISA and Five Access ISA have been launched to support people in making the most of their current ISA allowance while giving them the flexibility they need to manage their savings throughout the year, helping them stay focussed on what matters most to them."