Bradford + Bingley issue 3 rate dropped?

[Deleted User]

foofi22 wrote: »

Scroll down to 'Account no longer available'
Look at the first line, i.e. Internet Saver (Issue 3) - Online - Variable Rate.
You can see the previous rate of 6.51% and the new one of 6.01%

Thanks for that. It doesn't make a grand amount of difference for me, maybe if I had 5k then over a year I'd be £20 worse off but I don't have 5k in there so I'm not all that bothered.

Nice to know the interest rate will still be guaranteed to at least match the Bank of England Base Rate until 31st October, 2010.

Stompa

treecity wrote: »

B&B just added the eSavings Issue 6 account at 6.10 gross

If you open one online you can then switch your existing balance into the new one. It's very easy and takes less than 24 hours to do.

http://www.bradford-bingley.co.uk/savings/esavings-issue6.asp

Can you transfer funds instantly from the Internet Saver 3 to the eSavings Issue 6? When I queried this on another thread somebody pointed out that the T&C's indicated that any transfers would have to go via the linked account.

savetilibleed

treecity wrote: »

B&B just added the eSavings Issue 6 account at 6.10 gross

If you open one online you can then switch your existing balance into the new one. It's very easy and takes less than 24 hours to do.

http://www.bradford-bingley.co.uk/savings/esavings-issue6.asp

Trouble is after a year it loses the 1% bonus. Still if it can be easily moved from a newly opened issue 6 from an issue 3 with no loss of interest as would not be the case moving from one place to another, well I suppose it's worth having for a year. This is more on the lines of the Abbey e-saver - it has a .75-1% bonus rate. Wandering if this is the first stage of integration of B&B and Abbey.

treecity

Stompa wrote: »

Can you transfer funds instantly from the Internet Saver 3 to the eSavings Issue 6? When I queried this on another thread somebody pointed out that the T&C's indicated that any transfers would have to go via the linked account.

Yes.

I opened an issue 6 account first, which showed up on my log-in after just hours. Then you can do a transfer of funds directly from your issue 3. I transferred the whole amount which closed the issue 3 account. You don't need to go via your linked bank account.

It's actually really easy!

edda

savetilibleed wrote: »

Trouble is after a year it loses the 1% bonus.

I wouldn't worry - judging on past performance the rate will be left behind in less than 12 months. :rolleyes:

elektra

treecity wrote: »

Yes.

I opened an issue 6 account first, which showed up on my log-in after just hours. Then you can do a transfer of funds directly from your issue 3. I transferred the whole amount which closed the issue 3 account. You don't need to go via your linked bank account.

It's actually really easy!

Have you also sent a £1,000 opening cheque , as it states in account opening details ?

Stompa

treecity wrote: »

Yes.

I opened an issue 6 account first, which showed up on my log-in after just hours. Then you can do a transfer of funds directly from your issue 3. I transferred the whole amount which closed the issue 3 account. You don't need to go via your linked bank account.

It's actually really easy!

OK, many thanks for confirming.

treecity

elektra wrote: »

Have you also sent a £1,000 opening cheque , as it states in account opening details ?

No. I already had an issue 3 account and opened the issue 6 with no money at all. As soon as B+B add the new account to your log-in area you can tarnsfer funds from an existing account or by linked current account.

HTH

edda

equitydealer wrote: »

If the BOE drop rates again they will probably launch eSavings Issue 7 and we'll have to switch from Issue 6

Yes - I've decided to wait until the next rate drop.

After all, we're talking about moving for an extra 90p per £1000 across a whole year. :rolleyes: How many days per £1000 will I need to cover each £100 per lost interest from Icesave?

Ooh - that last question sounds like a candidate for the new financial awareness classes in schools. :rotfl:

Apreciar

equitydealer wrote: »

If the BOE drop rates again they will probably launch eSavings Issue 7 and we'll have to switch from Issue 6

One would hope that they would have had sufficient nouse to anticipate Thurdays rate drop and allow for this rather than have esaver6 open for a very very short period.

Butn then again, this B&B; so anything could happen.