I don’t think everyone knows how low the interest rates on ’savings’ accounts is these days – I joined an account at about 4%. Checked it the order day and they’d changed it to 0.1% without notifying me.. first I’d heard of it when I couldn’t work out why I hadn’t got any interest this year.
It’s never hone down though (except in real terms, which is why saving for long periods is folly… spend it whilst it’s still worth something).
i had a very similar experience tony, but it was about 6-12 months ago, and there were already other banks’ savings accounts doing the same at the time. maybe the mail were having a slow news day and decided to report this even tho it’s not all that new.
They do that if you spend the money in them, yes.
I though the point of savings accounts was to hold money so you wouldn’t spend it. Anything else is a bonus.
So this is a noteworthy headline, how?
I used to work in a bank. over half of all ’savings’ accounts pay around 0.1% to 0.5% p/a. Hardly news – they’ve done that for years.
Well if you don’t like the service you’re getting, take your custom elsewhere.
That’s how capitalsim works, DM!
He’s behiiiiind you.
Sail to France for £1 and don’t come back BNP sponsored link there.
I don’t think everyone knows how low the interest rates on ’savings’ accounts is these days – I joined an account at about 4%. Checked it the order day and they’d changed it to 0.1% without notifying me.. first I’d heard of it when I couldn’t work out why I hadn’t got any interest this year.
It’s never hone down though (except in real terms, which is why saving for long periods is folly… spend it whilst it’s still worth something).
i had a very similar experience tony, but it was about 6-12 months ago, and there were already other banks’ savings accounts doing the same at the time. maybe the mail were having a slow news day and decided to report this even tho it’s not all that new.