New research from the Financial Regulator shows that more than a third of special savings account (SSIA) holders have been contacted by their financial institution about what to do when their account matures.
One in five have been contacted by another institution about the investment options open to them after the scheme finishes.
Consumer director Mary O'Dea said that while it was good news for consumers that firms were vying for their business, it was worth taking time to consider all options.
'The first accounts will not mature until May 2006, so you have plenty of time to make a decision. Remember, it is your money so try not to be rushed into making a commitment because of tempting offers or advertising,' she said. Ms O'Dea said the regulator would be publishing information aimed at helping SSIA account holders in the New Year.
The regulator has asked financial institutions to examine their procedures to make sure they can handle the volume of accounts that will mature between May 2006 and May 2007.
