Savers can claim back up to £750 against any interest penalties or exit fees incurred from their existing provider when they transfer their cash ISA to the AXA Self Investor stocks and shares ISA .

The offer is open to new and existing investors, applies to transfers of at least £500 and transfers must be requested by 31 January 2017.

Savers have 30 days from the transfer completion date to make a claim and the transfer needs to remain with AXA Self Investor for a minimum of 12 months or you’ll be liable to pay back the money claimed.

AXA Self Investor charges 0.35% a year if you have up to £250,000 invested across all of your AXA Self Investor accounts or 0.20% per year if you’ve £250,000 or more invested, excluding any offers.

Adrian Lowcock, head of investing at AXA Self Investor, said: “Savers have been suffering from seven years of record low interest rates; the average interest paid on a cash ISA has fallen to 0.85% in December 2015 according to the Bank of England.

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“AXA Self Investor is enabling savers to escape from their existing cash ISAs and get their money working hard to achieve their goals.”