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Investec High 5 account WITHDRAWN
ashteadgirl
Posts: 294 Forumite
Sad news the Investec High 5 account has been withdrawn today and new maximum investment restrictions placed upon it for existing customers (£100K)
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Comments
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:rotfl::rotfl::rotfl: It is definitely open season on savers, wonder what they did to be such a despised group of people.Hope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0 -
Stopped spending
Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0 -
Bar stewards.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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what the hell! I was going to open one of these accounts (and I nearly filled in the form yesterday) - tbh this is terrible news - I wonder if someone else will offer a similar account now...0
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MoneySavingUser wrote: »what the hell! I was going to open one of these accounts (and I nearly filled in the form yesterday) - tbh this is terrible news - I wonder if someone else will offer a similar account now...
Yeah I'd recommended it to my mum, planning for her retirement, just waiting on some money from a house sale to come through. Not a happy saver.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
You can only offer a great rate of interest if you can earn a great return.
As we have all found out, the banks offering the best returns aren't necessarily the safest places and thankfully the government bailed out those savers who would have lost out when the icelandic banking system collapsed.
Unless you can start persuading your neighbours, friends and families to start paying 6-7% on their mortgages on average again, 5% returns on savings are going to be few and far between.
R.Smile
, it makes people wonder what you have been up to.0 -
I'm currently getting 3.04% from the High 5 account, but Investec's new 'replacement' account pays just 1.8% for the same balance.
I wonder how long the High 5 account will continue for existing customers?0 -
As we have all found out, the banks offering the best returns aren't necessarily the safest places and thankfully the government bailed out those savers who would have lost out when the icelandic banking system collapsed.
I seem to remember that around the time the Icelandic banking system collapsed, Nationwide was offering >7% for a 1 year fixed rate savings bond. You remember, Nationwide, that conservative institution which makes such a big deal of the fact it's basically only savings and mortgages...0
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