One Account rates cut

munkypuzzel

Good luck guys hope you get the extra cash!!

Incidently, back in the day when Virgin were in charge, the commision for recommendation was £500, - I used to actively try to convert friends/colleagues etc. That was a real incentive and sound business/marketing sense by the bank. I found thesubsequent introduction of £125 insulting..

hope you get it though, money for nothing and all that!

karanda

Doh wrote: »

i will recommend you if you like, goto :

http://www.oneaccount.com/onev3/pdfs/one-plusone-vouchers-v0708.pdf

print it of and i'll email you my name and postcode (unless someones beat me to it?)

Good luck guys! I think this sort of co-operation is great - there must be many other ways to get money back by working together - maybe this is the forum to do it?!

Nail_Lad

Money saving at it's best. I like it. Right, all I need now is about 280 willing volunteers and I'll be mortgage free!

Spud_2

karanda wrote: »

Good luck guys! I think this sort of co-operation is great - there must be many other ways to get money back by working together - maybe this is the forum to do it?!

I posted a referral on the Referrers Board a while back on this:

http://forums.moneysavingexpert.com/showthread.html?t=382934&highlight=one+account

malocao

The following may be useful in putting together complaints and FOS refererrals. I've compared each rate change on my OA mortgage since Jan 2008, with the 3-month LIBOR rate on the day that OA announced a change.

(Sorry about the table format)

Announced Effective New OA rate % Change % 3m LIBOR % Margin %
08/02/2008 08/02/2008 6.30 -0.25 5.60 0.70
07/07/2008 07/07/2008 6.55 +0.25 5.88 0.67
09/10/2008 03/11/2008 6.05 -0.50 6.28 -0.23
01/12/2008 01/12/2008 5.05 -1.00 3.88 1.17
05/12/2008 31/12/2008 4.05 -1.00 3.38 0.67
09/01/2009 02/02/2009 3.85 -0.20 2.38 1.47
09/02/2009 02/03/2009 3.85 0.00 2.10 1.75
06/03/2009 01/04/2009 3.60 -0.25 1.95 1.65

So there have been 2 deliberate shifts in policy, both of which benefit RBS and hit us:
(a) In 2008 the margin of each new rate above LIBOR was around 0.7% (there are a couple of exceptions in Oct & Dec which are roughly equal and opposite). In 2009 the margin has more then doubled to around 1.7%
(b) Until Oct 2008 rate reductions (and increases) took effect immediately. Since then they have been arbitrarily delayed by a month

I look forward to RBS's explanation of how this constitutes fair treatment.

Regards

red789

I have received an ack from the Finanical Ombudsmen for my complaint against OA. While it just says "we are really really busy at the moment, please sit tight" it does not reject it out of hand, so thats the first stage over.

Ive also dropped a line to Virgin Money, saying are you aware you are "teamed up with" a Mortgage Account which has been described by your own ex marketing director as "now a betrayal of everything it first stood for", and has 100,000 hits on a complaints forum. And has been reported to the FO, and the FSA, etc etc etc

Cheers

musicegbdf

So now they are using our money to buy Ad's on TV !!!!!!

Mudbath

Well, I've jumped ship! I was put through to speak to someone who tried to make me stay...they even wanted me to keep the one account open as a current account. Thanks to this thread I had some good arguements and they gave up. I'm sure they won't lose any sleep over losing me as a customer but it didn't half feel good to tell them we were leaving!

ETA: I meant to say, the lady I spoke to said lots of people were leaving!

Nail_Lad

Mudbath wrote: »

Well, I've jumped ship! I was put through to speak to someone who tried to make me stay...they even wanted me to keep the one account open as a current account. Thanks to this thread I had some good arguements and they gave up. I'm sure they won't lose any sleep over losing me as a customer but it didn't half feel good to tell them we were leaving!

ETA: I meant to say, the lady I spoke to said lots of people were leaving!

May I ask where you went to?

Mudbath

A&L 3.99% 5 year fixed no fees. I know rates may go lower but i'm happy with this payment for five years.