The Top Easy Access Savings Discussion Area

Options
1…4849515354…1974

Comments

  • Tibbledom
    Tibbledom Posts: 433 Forumite
    Options
    Bradford and Bingley have cut interest rates on their main instant access internet accounts by the full 1.5% from today (Sunday 16th November 08)

    Internet saver (issue 3) - 4.51% AER (was 6.01%)
    E savings (issue 6) including bonus - 4.6% AER (was 6.1%)

    New rates can be found at

    http://www.bradfordandbingley.co.uk/savings/product/index.asp
    MSE. Abandon hope all ye who enter here :D
  • Moggles_2
    Moggles_2 Posts: 6,097 Forumite
    Options
    Tibbledom wrote: »
    Bradford and Bingley have cut interest rates on their main instant access internet accounts by the full 1.5% from today (Sunday 16th November 08) Internet saver (issue 3) - 4.51% APR (was 6.01%), E savings (issue 6) including bonus - 4.6% APR (was 6.1%)

    Strictly speaking, the new rates are 4.51% AER (monthly 4.42% gross) and 4.6% (monthly 4.51% gross) respectively.

    AERs are used to compare interest rates on savings, APRs to compare the charges for money that's borrowed ;)
    People who don't know their rights, don't actually have those rights.
  • JohnAnt
    JohnAnt Posts: 35 Forumite
    Options
    On reading Martin's latest instant access account best picks I was a bit surprised that ING apparently wasn't among them. It's still offering 6% for new accounts, including a 12 month bonus, though as I see it's been unchanged for a while, I guess it'll probably respond soon to the 1.5% B of E rate cut. Signing up for an ING account was a doddle, but I'll just wait a couple of days before giving them my dosh, as Egg (my present instant savings account) has just dropped the full 1.5%, and I've been caught out before moving my money only to find the new account drops as much or even more.

    What really annoyed me about Egg was that although they still had all details of my previous account (closed only a few months ago) and had even retained my passwords, ID details and address - so that I could actually still access my defunct account - they nevertheless demanded documentary proof of ID by post all over again, and in the process I lost a week's decent interest.
  • Vectra
    Vectra Posts: 152 Forumite
    First Anniversary Combo Breaker
    Options
    quote:What really annoyed me about Egg was that although they still had all details of my previous account (closed only a few months ago) and had even retained my passwords, ID details and address - so that I could actually still access my defunct account - they nevertheless demanded documentary proof of ID by post all over again, and in the process I lost a week's decent interest.

    That is what infuriates me this ID stuff they always bleat about money launderers who the hell thought that one up?I keep trying to point out it should not be me who has to prove I am not a money launderer it should be them proving I am,once more the innocent majority suffer as is the norm in this damned country
  • Sceptic001
    Sceptic001 Posts: 1,111 Forumite
    Options
    Vectra wrote: »
    That is what infuriates me this ID stuff they always bleat about money launderers who the hell thought that one up?

    It's a European Union regulation. Persecute the innocent while the criminals do what they like.

    Incidentally, Egg has also cut its savings variable rate by the full 1.5% so anyone who opened their attractive 6.55% account recently is now getting 5.05%.
  • hansi
    hansi Posts: 3,001 Forumite
    First Post First Anniversary
    Options
    JimmyTheWig wrote: »
    What I don't understand is what benefit it is to AA to not allow you to have your interest paid into your savings account? Do they not want your money?

    Actually they do. I have checked my account this morning, and they have added the interest to my account as requested when I applied for the account.:j
  • Baldur
    Baldur Posts: 6,565 Forumite
    Options
    hansi wrote: »
    Actually they do. I have checked my account this morning, and they have added the interest to my account as requested when I applied for the account.:j
    Which type of account do you have? I have the fixed rate, which permitted interest to be retained in the account but the Internet Saver (Issue 1) specifically says:
    Interest is calculated daily and credited to your nominated account monthly on the first day of each month. Interest can be paid away to your linked account or to another AA savings account It cannot be paid back into your AA Internet Saver (Issue 1).
  • hansi
    hansi Posts: 3,001 Forumite
    First Post First Anniversary
    Options
    I have the Internet Saver (6.28% gross) and I can confirm that they have added last months interest to the account as requested on sign up. They must have changed the rules!
  • miserable_ol_so_n_so
    miserable_ol_so_n_so Posts: 496 Forumite
    First Anniversary Combo Breaker
    Options
    Sceptic001 wrote: »
    .......
    Incidentally, Egg has also cut its savings variable rate by the full 1.5% so anyone who opened their attractive 6.55% account recently is now getting 5.05%.
    Capital one also have dropped rates, by 2%. I ve pulled my savings out. There must be a better deal elsewhere.
    ....Illegitimi non carborundum

    ...don't let the illegitimate ones grind you down....
  • arfabrane
    arfabrane Posts: 152 Forumite
    Options
    Hmmm, I think it's time I did some shopping around, as the HSBC has just dropped their interest rate on the internet saver down to a staggering 3.25% (unless you make a withdrawal, when it goes down to around half that!)
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.4K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.8K Spending & Discounts
  • 235.6K Work, Benefits & Business
  • 608.5K Mortgages, Homes & Bills
  • 173.2K Life & Family
  • 248.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards