Despite ISAs being launched almost 13 years ago, nearly three out of 10 UK adults say they have no understanding of how a stocks and shares ISA works. According to new research from Barclays, less than one in 10 people reckon they fully understand what a stocks and shares ISA involves, although 50% of respondents believed that potentially better returns are the main reason for investing in one. In fact, 49% of respondents were keen to take out a stocks and shares ISA and have only been prevented from doing so by a lack of spare funds. While cash ISAs remain a very popular option, with 46% of savers holding one, the survey also found that just over a quarter of savers would consider setting up a stocks and shares ISA using a designated online service. Another key finding from the research – only 6% of 18 to 24-year-olds currently have a stocks and shares ISA.