One Account rates cut

Brice

http://newsvote.bbc.co.uk/1/hi/business/7906922.stm

no comment ! :mad:

Doh

Natwest send me a letter at the weekend, asking if i still wanted my OD on a old current account i don't use (i've never used the OD facility in 16 years) they said they would automatically close the OD facility if i didn't tel them i still wanted it or transfer any money to the account...

Well i don't actually want or need it, but due to their underhand business tactics i've decided to play their game and have transfered 5p from my one account LOL

smarty_pants_4

I left one account earlier this year, but still get occasional mail from them, I just got the letter that the latest 0.5% base cut us not being passed on.

I strongly advise those of you who can, to get out of One Account and go with a decent provided (I got a base rate +0.99% tracker from HSBC, just before they stopped that offer).

Those who are stuck, keep up the fight!

jackarmy

Hi smarty_pants.

I also dropped the OA and went to ING Base +0.9%.

These low rates are not being offered in todays climate.

Therefore existing OA customers are caught between a rock and a hardstone.

My only advise is to overpay as much as you can on a OA, and reassure yourself that if you ever need a facility it's always there.

On no account reduce your facility if you get a cold call from Norwich.

oldjabez

Agreed, I may be stuck with RBS at the moment but times will change.

I will boycott all other RBS products until we get fair play from them.

red789

This is wierd, I got a letter from the one account yesterday telling me that in their opinion I was not making sufficient pay-down on my mortgage, reminding me I only had "14 years and six months" to go.

Seeing as they always send an annual review, which makes the situation very clear, this seems like very odd timing. Maybe the accountants out there can work out whether "14 years and six months" is some crucial review trigger point on a 20 year mortgage, or whether they are just after some more money, or whether it is a prelude to some further correspondence to come wanting to reduce the facility, and this could be used as a "we told you so" letter, in say six months time.

Anyone else had one?

red789

Me again. I'll do some work in a minute.

I have reported One Account to the FSA for misleading advertising. Consistantly since December they have been misquoting rival rates on their website to make their rate seem less unnattractive. Happily this comes under "misleading advertising" which is the responsibility of the FSA. Happily#2 they keep doing it!

Saran_2

*satire* Don't worry about it, you can trust the One Account. */satire*

As your only commitment is to clear the mortgage by the end of the term this seems a strange letter. You could be sitting on an inheritance in a high interest account for all they know.

Still it's nice to know that they are worrying about you and don't want you to get into financial difficulties! Tsk...silly me, they are the ones causing the difficulties by picking our pockets each month.

Do you think they will get a similar letter from Alistair Darling?

Just had the "stuff you" February rate letter. Every time they write it just makes me madder. Apparently I'm still getting "great value" from my OA. :mad:

Right - off to kick something.....

DudleyMan

:mad: I just got the "BoE rate we're paying went down again but your rate is staying the same, so stuff you" letter. Apparently "Few lenders offer a mortgage with so much flexibility" - obviously not on the rate we pay though, unless it's upwards!

Absolutely fuming mad - and it's US bailing them out...:mad:

lrr_2

not got the letter yet but as their customer service cannot possbly get any worse will probably get it next year........

no wonder this company is in the mess its in with people like that working there

customer service is non existant...........

only with this company as I have no choice at the moment but when things pick-up im off!!!!!!!!!!!!!!!!

would quite happily see this company go down the tubes!!!!!!

NO MORE BAILOUTS!!!!!!!