First Direct Savings

Thomas99

First direct have reduced my savings account rate, Everyday e-Saver Account - 2.75% AER 2.72% gross p.a., the best instant access i can get with them...YET their loan rate is still the same (8.9% APR £5k+)!!! The robbing *&%$^!'s :mad:

cos69

Thomas99 wrote: »

First direct have reduced my savings account rate, Everyday e-Saver Account - 2.75% AER 2.72% gross p.a., the best instant access i can get with them...YET their loan rate is still the same (8.9% APR £5k+)!!! The robbing *&%$^!'s :mad:

That must one of the lower rates around - time to move your account

Milarky

cos69 wrote: »

That must one of the lower rates around

..only until the end of the month - when everyone else cuts their variable rates too...

Stewster

Thomas99 wrote: »

First direct have reduced my savings account rate, Everyday e-Saver Account - 2.75% AER 2.72% gross p.a., the best instant access i can get with them...YET their loan rate is still the same (8.9% APR £5k+)!!! The robbing *&%$^!'s :mad:

You know what to do Thomas, ditch and switch !! Even if others cut their interest rates, not every bank will cut as low as that.

Milarky

BTW, a potentially useful account to keep - with nothing in it until the fourth year (2011-2012) - is the Lloyds Easy Saver TSB 2012 - when it will pay BOE+1% for 12 months. No idea what that will be, of course, but relative to the FD Everyday E Saver discussed here it would be 1.25% more....

latecomer

They also pulled their fixed rate ISA after my OH applied for it online and then info pack they sent out is for the standard variable rate one.

mars_2

They also stopped their regular saver at 8% a few months back.

Mine has just matured from last year and they put it into the everyday eSaver thinking people would leave it there, half of mine has gone into a fixed rate with Halifax and the rest will be spent soon on holiday

brookerbabyisababy

This is very harsh. I am also going to start looking for somewhere else for my money also, but as Milarky said - wait until end of the month and then swap.

Reaper

Milarky wrote: »

BTW, a potentially useful account to keep - with nothing in it until the fourth year (2011-2012) - is the Lloyds Easy Saver TSB 2012 - when it will pay BOE+1% for 12 months. No idea what that will be, of course, but relative to the FD Everyday E Saver discussed here it would be 1.25% more....

That's the oddest savings account I've ever seen. Looks best to have £1 in it for 3 years, then loads in year 4, then withdraw it all in year 5. How/why do they fund it?!

ajd_2

I have to say I've always thought First Direct were a pretty good outfit - and whilst never market leading, their rates were OK and a reasonable place to have your main current account.

This latest announcement is the last straw though - after several happy years I feel I have no choice but to leave. The 2.75% is pathetic, and their current 1st account pays no interest at all. I can't believe how uncompetitive they have become. Very sad.

ShelfStacker_3

cos69 wrote: »

That must one of the lower rates around - time to move your account

May I point out the HSBC Flexible Saver, paying 0.2% AER on balances up to £10,000?

No, that's not a typo. 0.2%.