Fix Your Savings Rate NOW! Article Discussion

Former_MSE_Natasha

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Fix Your Savings Rate NOW! Article

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lllama

The link at the bottom of the article is broken and points to the one about haggling.

MSE_Martin

PS. If you spot a rate in the guide that has dropped - please email [EMAIL="brokenlink@moneysavingexpert.com"]brokenlink@moneysavingexpert.com[/EMAIL] - we are updating regularly but its helpful if you can

janetsr

I applied for the Saga fixed rate savings - online - yesterday. They responded that the docs would be posted out to me. Will I still get the quoted interest rate or if they change today, am I too late?

treecity

The biggest problem here is moving money back through linked accounts to even be able to open a fixed term.

I have savings in BM esaver and to open a Fixed term with them I have to send the money via my linked current account. By the time I have done that they will most likely have closed the fixed account for new applicants.

I only want to move the funds sideways within BM but have to go all round the houses.

Crazy times!

brooza

Halifax have a Web Saver account fized at 7%AER for 3 months

Dan29

brooza wrote: »

Halifax have a Web Saver account fized at 7%AER for 3 months

Careful with Halifax - when they drop the rate you get they sometimes don't update their website advertising until the next day. You think you're applying for 7% but then find out too late that you've been given a lower rate.

Anyone opened one in the last couple of hours and can confirm they got the advertised rate?

Megalomaniac

Wish I could transfer my Icesave ISA to a fixed rate now (rather than when they will have disappeared in a few weeks time). I applied for the Principal fixed but following the application it asks for you to send the paperwork and transfer form within 5 days!

cmjb

As someone who (foolishly) trusted the UK banking systerm until relatively recently, I have to disagree with some of Martin's advice. I would not put any funds into any bank, building society, etc., in a panic whatever the rate bait.

I have been moving our funds into the nationalised banks (we are Northern Rock customers) and NS&I premium bonds, despite the lousy returns. Returns are meaningless if you lose your money, as we almost did with Icesave.

I would look at the bank's or building society's financial statements before depositing money. I have found that many of them have put far too much money into "wholesale" banking and/or derivatives. Wholesale banking is when banks lend money to other banks. If you wonder what earthly use that is, well, your instincts are probably right. In my opinion, derivatives are just legalised gambling.

We continue to keep our current account with a bank that I will not name, despite their involvement with all this, simply because it's too hard to switch and difficult to find any organisation that isn't involved.

brooza

Dan29 wrote: »

Anyone opened one in the last couple of hours and can confirm they got the advertised rate?

Me (unless the rate changes between me signing up and the letter coming to me)

Dan29

brooza wrote: »

Me (unless the rate changes between me signing up and the letter coming to me)

Thanks. You can see the rate for the account when you look at its details.