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Just had a letter from Halifax.. more rate slashing
Glaedr
Posts: 4 Newbie
I've just had a letter this morning concerning an ISA that I've not been in a position to pay into for a while now. Ironically, I now am and was about to start paying in again. Now I think I'll be going elsewhere. It's being slashed from 0.10% to 0.05%. I don't know whether it's previously been slashed and letters haven't arrived, but I was under the impression that it was higher. Still, cutting it in half is a bit of a jump.
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Comments
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Cash ISAs in general have been poor value for a number of years and you've obviously left your money in an ancient product that's been left to rot. Read http://www.moneysavingexpert.com/savings/which-saving-account and take advantage of one or more of the many better places for your money....0
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How much money do you have in the ISA? Even the previous 0.1% is a terrible rate that can easily be beaten!Remember the saying: if it looks too good to be true it almost certainly is.0
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I don't quite get why they've made this drop - if I was Halifax, I wouldn't exactly want to draw attention and push away customers who were only getting 0.1% anyway!0
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I've had a similar letter so I'll be looking around for a better rate! Surely there are other providers that offer more than 0.05%!'The only thing that helps me keep my slender grip on reality is the friendship I have with my collection of singing potatoes'
Sleepy J.0 -
The AA is paying 1% instant access
https://www.theaa.com/savings/isa-savings-access.html
First Direct/Nationwide paying 0.9% (post forthcoming reductions on the former).
Still woeful but better than 0.05%0 -
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I've just had a letter this morning concerning an ISA that I've not been in a position to pay into for a while now. Ironically, I now am and was about to start paying in again. Now I think I'll be going elsewhere. It's being slashed from 0.10% to 0.05%. I don't know whether it's previously been slashed and letters haven't arrived, but I was under the impression that it was higher. Still, cutting it in half is a bit of a jump.
Surely not a big deal ? they're 'slashing' it from nothing to nothing, (on £100 its the difference of 5p interest a year). You should have moved it long ago.0
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