The latest addition to the Icesave range comes with a guarantee that the interest rate will be at least 0.30 per cent AER above the Bank of England base rate until 31 January 2011, and at least equal until 31 January 2013.

ISA balances from previous tax years can be transferred into the Icesave Easy Access ISA.

Those choosing to transfer their current mini cash ISA to Icesave before 1 March from NatWest, Halifax, HSBC, Lloyds TSB, Barclays or Nationwide will receive £1,000 if they transfer but find that they are earning a lower rate of interest than that from their previous provider.

Icesave’s Easy Access ISA allows customers to quickly set up an account while having easy access to their tax-free savings. Interest can be paid either monthly or annually and the opening balance for the account is £1,000. The Icesave Easy Access ISA is open to UK residents aged 18 and over.

Mark Sismey-Durrant, managing director of Icesave, says, ‘To ensure customers can take full advantage of the Icesave Easy Access ISA, we offer a simple-to-use online system and for those with existing ISAs, a hassle-free transfer-in service – we will do the work for you. We will even put our money where our mouth is with our £1,000 challenge.’