Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • chooka
    • By chooka 19th Mar 17, 3:46 PM
    • 21Posts
    • 2Thanks
    chooka
    ISA issue
    • #1
    • 19th Mar 17, 3:46 PM
    ISA issue 19th Mar 17 at 3:46 PM
    Hi All

    I have two isas with one bank that i havent looked at in too long.
    Just noticed that the interest rate on them is 0.05%

    I knew it was a variable rate ISA, but i am shocked to see it so low, and just assumed, probably naively that i would just track the ISA rate that is advertised on new ISAs. which is .65%.

    Still low, but much higher than what i have.

    Do i have any grounds here to raise this with the bank?
Page 1
    • le loup
    • By le loup 19th Mar 17, 4:17 PM
    • 3,450 Posts
    • 3,196 Thanks
    le loup
    • #2
    • 19th Mar 17, 4:17 PM
    • #2
    • 19th Mar 17, 4:17 PM
    No, but you have grounds to move it to somewhere paying a higher rate.
    .................... and use the lesson to keep an eye on what you are doing.
    • masonic
    • By masonic 19th Mar 17, 4:24 PM
    • 8,814 Posts
    • 5,929 Thanks
    masonic
    • #3
    • 19th Mar 17, 4:24 PM
    • #3
    • 19th Mar 17, 4:24 PM
    They would have notified you if they made a single reduction of more than 0.25% or reduced it by more than 0.5% over 12 months. Beyond that, it's your personal responsibility to check that the accounts you hold are still meeting your needs.
    • jimjames
    • By jimjames 19th Mar 17, 8:59 PM
    • 11,535 Posts
    • 9,760 Thanks
    jimjames
    • #4
    • 19th Mar 17, 8:59 PM
    • #4
    • 19th Mar 17, 8:59 PM
    Hi All

    I have two isas with one bank that i havent looked at in too long.
    Just noticed that the interest rate on them is 0.05%
    Originally posted by chooka
    If you haven't looked at it for so long does it need to be in a cash ISA? You might find a S&S ISA would be better especially if you don't need to look at it frequently.
    Remember the saying: if it looks too good to be true it almost certainly is.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,100Posts Today

7,768Users online

Martin's Twitter