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  • FIRST POST
    • leeroy2009
    • By leeroy2009 11th Oct 16, 5:19 PM
    • 575Posts
    • 224Thanks
    leeroy2009
    club lloyds dropping to 2%, halifax rewards to 3
    • #1
    • 11th Oct 16, 5:19 PM
    club lloyds dropping to 2%, halifax rewards to 3 11th Oct 16 at 5:19 PM
    club lloyds dropping to 2%, halifax rewards to 3


    just read this:


    http://www.dailymail.co.uk/money/saving/article-3832546/Now-Lloyds-cuts-rate-current-account-customers-Club-Lloyds-deal-dropping-4-2.html
Page 2
    • MABLE
    • By MABLE 12th Oct 16, 12:30 PM
    • 3,062 Posts
    • 1,614 Thanks
    MABLE
    One crumb of comfort for me is although the TSB Classic account rate is dropping it does not affect my monthly savers rate of 5% as it was fixed for 12 months and taken out two days before they dropped it to 2% back in June 29. Also RCI rate for me staying at 1.20% even though they dropped it yesterday to 1%.
    Last edited by MABLE; 12-10-2016 at 12:35 PM.
    • Biggles
    • By Biggles 12th Oct 16, 12:35 PM
    • 6,965 Posts
    • 4,403 Thanks
    Biggles
    Had a German friend over the weekend and she said it was one of bemusement but they weren't that bothered either way. She said it's sometimes best to jettison the high maintenance lover...
    Originally posted by Heng Leng
    She's hit the nail on the head - that's precisely what we are doing!
    • PeacefulWaters
    • By PeacefulWaters 12th Oct 16, 2:23 PM
    • 5,066 Posts
    • 6,090 Thanks
    PeacefulWaters
    I'm sick of the bloody letters, telling me the rates are dropping.
    just had one this minute,halfax, isa, now 0.05% instead of 0.25%, which another letter told me yesterday.
    they come daily, just like junk.
    If only they were as good at dealing with your affairs.
    Originally posted by joe134
    You don't want them to tell you they've reduced your rate?

    Strange.
    • xylophone
    • By xylophone 12th Oct 16, 6:47 PM
    • 19,182 Posts
    • 10,895 Thanks
    xylophone
    Also RCI rate for me staying at 1.20% even though they dropped it yesterday to 1%.
    But only until 13 December?
    • jimjames
    • By jimjames 12th Oct 16, 8:45 PM
    • 10,841 Posts
    • 8,913 Thanks
    jimjames
    with tsb doing the same,5%>3%, and only 1500, I will just shut them all down, p*** poor rates, not worth the hassle.
    In all combined, the saving is peanuts, won't have to bother with all the dd's with other bank then, as they will be next,T, on their current a/cs.
    sign of the times
    updating.my paper work is going down drastically
    Originally posted by joe134
    Hopefully you were paperless or would have got no interest!
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Jlawson118
    • By Jlawson118 12th Oct 16, 9:12 PM
    • 380 Posts
    • 23 Thanks
    Jlawson118
    These banks have shocking interest rates anyway. I've just closed both my Lloyds and Halifax accounts down today before I even saw this article because I get nothing out of them really. I've been getting the best interest rates on savings accounts with First Direct, and just opened another few with Barclays, their overdrafts are cheaper as well than Halifax and Lloyds.

    I don't understand why anybody is with these two in all fairness
    • YorkshireBoy
    • By YorkshireBoy 12th Oct 16, 9:31 PM
    • 28,320 Posts
    • 16,128 Thanks
    YorkshireBoy
    These banks have shocking interest rates anyway. I've just closed both my Lloyds and Halifax accounts down today before I even saw this article because I get nothing out of them really. I've been getting the best interest rates on savings accounts with First Direct, and just opened another few with Barclays, their overdrafts are cheaper as well than Halifax and Lloyds.

    I don't understand why anybody is with these two in all fairness
    Originally posted by Jlawson118
    You're young. One day you'll have a lump sum saved and be thankful of 4% AER on 5K (15K if you meet/marry someone).

    Halifax pay me 240 a year for tying up 4 (I could get away with a zero balance, but the interest rate wouldn't then compute). What's the AER on a 240 return for a 4 balance? You went to school more recently than me.

    And as for Barclays...I'm all ears on their savings rates. My lowest will be 1.5% soon. Can they beat that?
    • jimjames
    • By jimjames 12th Oct 16, 9:40 PM
    • 10,841 Posts
    • 8,913 Thanks
    jimjames
    I've been getting the best interest rates on savings accounts with First Direct, and just opened another few with Barclays, their overdrafts are cheaper as well than Halifax and Lloyds.

    I don't understand why anybody is with these two in all fairness
    Originally posted by Jlawson118
    If you're interested in getting the best return, why are you bothered about overdraft rates? I couldn't care less what the banks charge, all I want is the best rate on the money I hold in the account. I've not seen Barclays anywhere in the best buy lists, can you give details of which pays so well?
    Remember the saying: if it looks too good to be true it almost certainly is.
    • joe134
    • By joe134 13th Oct 16, 8:31 AM
    • 2,928 Posts
    • 383 Thanks
    joe134
    Hopefully you were paperless or would have got no interest!
    Originally posted by jimjames
    yep, paperless,if there is such a thing?
    As we can see, we know about any rate drops on here, papers, tv, before any bank letters arrive.
    We are all discussing them now, but, bet no one has had a letter yet.
    They are a legal formality for those without a pc, even though some accounts insist you go paperless, but still get a load of junk mail from them..
    tsb just e-mailed me with changes.
    Last edited by joe134; 13-10-2016 at 11:11 AM.
    • Biggles
    • By Biggles 13th Oct 16, 8:51 AM
    • 6,965 Posts
    • 4,403 Thanks
    Biggles
    I've been getting the best interest rates on savings accounts with First Direct
    Originally posted by Jlawson118
    What, 1%? (If you exclude the Regular Saver, which is limited to a maximum of only 3,600)
    • Mr Goodkat
    • By Mr Goodkat 13th Oct 16, 1:32 PM
    • 360 Posts
    • 220 Thanks
    Mr Goodkat
    These banks have shocking interest rates anyway. I've just closed both my Lloyds and Halifax accounts down today before I even saw this article because I get nothing out of them really. I've been getting the best interest rates on savings accounts with First Direct, and just opened another few with Barclays, their overdrafts are cheaper as well than Halifax and Lloyds.

    I don't understand why anybody is with these two in all fairness
    Originally posted by Jlawson118
    Up until these changes that are coming in Halifax Reward would pay 5 per month per account and Club Lloyds 4% on 5k as long as you jumped through a couple of hoops to meet the criteria.

    First Direct have a good regular saver but restricted to 300 per month and will let you have 250 OD at 0% other than that their products are nowhere near market leading and trade on their service reputation.

    I have a FD account but as one of 30+ current accounts
    • Mr Goodkat
    • By Mr Goodkat 13th Oct 16, 1:37 PM
    • 360 Posts
    • 220 Thanks
    Mr Goodkat
    with tsb doing the same,5%>3%, and only 1500, I will just shut them all down, p*** poor rates, not worth the hassle.
    In all combined, the saving is peanuts, won't have to bother with all the dd's with other bank then, as they will be next,T, on their current a/cs.
    sign of the times
    updating.my paper work is going down drastically
    Originally posted by joe134
    All of these cuts are annoying but I won't be cutting off my nose to spite my face.

    Until the rate change kicks in TSB are giving me 5% on 2k plus 5 a month for contactless even when the cashback ends and the rate drops to 3% on 1.5k still worth having in my opinion.

    Same with Halifax, benefit from 5 per month per account whilst it lasts then even at 3 per month per account better than nothing.

    I'm holding on to all my accounts for now as others could still change and I will reassess when they have all kicked in
    • Westie983
    • By Westie983 13th Oct 16, 4:21 PM
    • 3,219 Posts
    • 12,600 Thanks
    Westie983
    3 a month for an average balance of 0.01p is good in my eyes, and even when TSB cut the rate and balance, its still 3% and that higher then the base rate.

    Will ride the storm, but nothing is happening till 2017, so I will enjoy the rates and rewards for the next three to five months.
    Save 12k in 2016 #16 Total 14650/12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (252) +13/300 = 88.33% ( x 10)
    Xmas 2017 1 a Day #6 Total 34.00/365 = 9.31%
    Virtual Sealed Pot #1 Total 800/800 = 100.00%
    2 Savers Club 2016 #104 Total (1060)+386/2000 = 72.30%

    Total 17195.78/15465 = 111.18%
    • Jlawson118
    • By Jlawson118 13th Oct 16, 6:14 PM
    • 380 Posts
    • 23 Thanks
    Jlawson118
    You're young. One day you'll have a lump sum saved and be thankful of 4% AER on 5K (15K if you meet/marry someone).

    Halifax pay me 240 a year for tying up 4 (I could get away with a zero balance, but the interest rate wouldn't then compute). What's the AER on a 240 return for a 4 balance? You went to school more recently than me.

    And as for Barclays...I'm all ears on their savings rates. My lowest will be 1.5% soon. Can they beat that?
    Originally posted by YorkshireBoy
    Oh don't get me wrong, the 4% on Club Lloyds is absolutely amazing, I mean more the savings accounts for 0.05% and 0.25% if you're lucky. I've been getting 1.30% on an ISA with First Direct, as well as a bonus savings for just short of that. But my Halifax and Lloyds savings accounts never earned anything near that. That's what I was getting at
    • YorkshireBoy
    • By YorkshireBoy 13th Oct 16, 6:25 PM
    • 28,320 Posts
    • 16,128 Thanks
    YorkshireBoy
    Oh don't get me wrong, the 4% on Club Lloyds is absolutely amazing, I mean more the savings accounts for 0.05% and 0.25% if you're lucky. I've been getting 1.30% on an ISA with First Direct, as well as a bonus savings for just short of that. But my Halifax and Lloyds savings accounts never earned anything near that. That's what I was getting at
    Originally posted by Jlawson118
    And the rates you're getting on the "few" savings accounts you've just opened with Barclays are?
    • pinkdalek
    • By pinkdalek 13th Oct 16, 8:04 PM
    • 1,176 Posts
    • 667 Thanks
    pinkdalek
    Banks betray switchers? What about banks who do sod all for their current account customers?

    Daily Mail, the Halifax has had the reward 5 account for over a decade, that's 600 at least if you've been with them for that long and always had it paid.

    Really Daily Mail in an economic environment of very low interest rates, stable yet low, a weakening brought about through Brexit - which one could argue you aided with your ridiculous and xenophobic headlines about asylum seekers and immigration - is it really a shock that rates offered by banks or rewards are being cut?
    • YorkshireBoy
    • By YorkshireBoy 13th Oct 16, 8:21 PM
    • 28,320 Posts
    • 16,128 Thanks
    YorkshireBoy
    Daily Mail, the Halifax has had the reward 5 account for over a decade, that's 600 at least if you've been with them for that long and always had it paid.
    Originally posted by pinkdalek
    It was launched in Feb 2009, so less than 8 years (but it feels like over a decade )
    • JustAnotherSaver
    • By JustAnotherSaver 13th Oct 16, 9:45 PM
    • 1,966 Posts
    • 290 Thanks
    JustAnotherSaver
    For all these people saying things along the lines of....

    "i'm closing my account because of the pi$$ poor rates"

    Can you tell me which account/s you're then putting your money in to that gets you the super high rates that you must be moving to?

    And why didn't you put your money in those higher rate accounts in the first place?

    • Westie983
    • By Westie983 14th Oct 16, 2:49 AM
    • 3,219 Posts
    • 12,600 Thanks
    Westie983
    It was launched in Feb 2009, so less than 8 years (but it feels like over a decade )
    Originally posted by YorkshireBoy
    Not done me badly - held three reward accounts for eight years, switched one out years ago, and the other two have a 0.01p balance.

    Its all a shame, but these rates have been at the high rates for a long time, we all know good things must come to an end at some point, just enjoy/utilise the next few months getting the higher interest/rewards, but dont forget 3 a month is still a good return on a low balance.

    I think I will move some money from Lloyds as the club account will not pay me as much as it does now, maybe utilise BOS, or Tesco account which are not full.

    Just need to play around with my spreadsheet see how it works out..
    Save 12k in 2016 #16 Total 14650/12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (252) +13/300 = 88.33% ( x 10)
    Xmas 2017 1 a Day #6 Total 34.00/365 = 9.31%
    Virtual Sealed Pot #1 Total 800/800 = 100.00%
    2 Savers Club 2016 #104 Total (1060)+386/2000 = 72.30%

    Total 17195.78/15465 = 111.18%
    • GingerFurball
    • By GingerFurball 14th Oct 16, 7:33 AM
    • 788 Posts
    • 774 Thanks
    GingerFurball
    Oh don't get me wrong, the 4% on Club Lloyds is absolutely amazing, I mean more the savings accounts for 0.05% and 0.25% if you're lucky. I've been getting 1.30% on an ISA with First Direct, as well as a bonus savings for just short of that. But my Halifax and Lloyds savings accounts never earned anything near that. That's what I was getting at
    Originally posted by Jlawson118
    There are no Lloyds or Halifax savings accounts available to new customers that pay as little as 0.05%.
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