Savers have been promised a shake-up to the Isa rules, which will make tax-free saving easier than ever.
But with a month to go until April 6, when the changes are due to take effect, industry insiders say providers are far from ready.
It may be well after the deadline that savers will benefit – and some providers may not make the changes at all.
That’s why you need to be agile to ensure you benefit from the new rules as quickly as possible.
The biggest change is that from the new tax year on April 6, savers will be able to pay into as many Isas as they want – with as many providers as they want.
However, the onus is still on savers to stay within the Isa limit of £20,000 per tax year.
The changes should make it easier to choose the best Isas for you (for example, you could have both an easy access Isa and a fixed rate Isa) and get attractive deals.
Under the existing rules, you can only pay out your Isa in one go with your current year’s allowance.
Hopefully the changes will create more competition between providers to offer better rates.
However, I’ve contacted all the major savings providers, and some say they may not let customers open more than one Isa before the deadline.
They tell me their hands are tied as they are still waiting for clarity from HM Revenue & Customs on how the rules should be applied.
The draft rules, which insiders say were published just two weeks ago, have not been made public.
Several providers also emphasize that it is up to them whether they offer the new flexibility. The rules are not mandatory.
I’m told some may decide not to offer fixed rate Isas and easy access Isas. Others may not let you open more than one with them.
The rules should also mean that fewer forms need to be completed. If you have not currently contributed to your Easy Access Money Isa with the same provider for a tax year, you will need to complete a new form to revalidate. That rule also expires.
However, some providers may still ask you to complete a new application form.
There is also the rule that all your money must be moved if you transfer an Isa opened in the existing tax year.
Starting the next tax year, you can move as much money as you want.
Ask your new provider to arrange the transfer so that your money does not lose its tax-free status.
A transfer can take up to fifteen working days, but the industry has committed to completing 85 percent in just seven working days.