Smile, big rate cuts!

Icesaver

Stuart_W wrote: »

This "linking" should happen automatically, provided that Co-Operative Membership have the same name and address details for you as the bank do. Any co-operative financial services business will be linked to your membership.

Your membership card will also allow you to collect points in Co-operative Group stores, along with MidCounties Co-operative Society and Anglia Co-Operative (includes Westgate department Stores). If your local co-operative society stores are owned by a different co-operative society that is not Group, Anglia or Midcounties you won't be able to use the card there.

Points can also be collected at www.coopelectricalshop.co.uk

Thanks for the info, unfortunately there are no Co-Op storers near where I live, though I have bought electricals from Co-Opelectrical shop, a washing machine and Blu-Ray player. Found them to be competitive and good on delivery too. Pity i lost out there on points :mad:

nilrem_2

Given that smile reduced it's rates to 0.28% on it's current account after the last rate cut; what will they do if the BOE rate goes down again on Thursday? Will they start charging customers an interest rate?:eek:

Icesaver

nilrem wrote: »

Given that smile reduced it's rates to 0.28% on it's current account after the last rate cut; what will they do if the BOE rate goes down again on Thursday? Will they start charging customers an interest rate?:eek:

Sounds like another camp for the disappointed...this time over Smile Interest though

Stuart_W

Well, the three year fixed rate has already dipped down to just 4% but they have yet to make any further changes - I wouldn't be surprised if interest on the current account is scrapped altogether.
With all this pressure from government on interest rates, this may be the time charges for banking services begin to appear - perhaps paying to write a cheque will finally knock an outdated unsecure method of payment on the head.

realaledrinker

Fixed rates & savings trackers now seem to be changed on the day of the BoE rate change.

See Co-op bank interest rates page:

http://www.co-operativebank.co.uk/servlet/Satellite/1193206370514,CFSweb/Page/Bank-Savings

poppy10_2

Cahoot savings just been cut to 2.05%

Stuart_W

Well, smile have now updated their interest rates following the second BofE rate drop (the 1% one)

BofE base rate: 2.00%
Smile Current Account 0.12%
Smile ISA 1.75%
Smile Savings Account 1.25%
3 year fixed savings 4.00%

fullstop

Stuart_W wrote: »

Well, smile have now updated their interest rates following the second BofE rate drop (the 1% one)

BofE base rate: 2.00%
Smile Current Account 0.12%
Smile ISA 1.75%
Smile Savings Account 1.25%
3 year fixed savings 4.00%

It's even worse if you do not have a Smile current account. It now pays 1.% :huh:

Stuart_W

Thanks, fullstop, rates do vary if you don't have a current account

BofE base rate: 2.00%
Smile Current Account 0.12%
Smile ISA 1.75% if you have a smile current account
Smile ISA 1.00% if you do not have a smile current account
Smile Savings Account 1.25% if you have a smile current account
Smile Savings Account 0.40% if you do not have a smile current account
3 year fixed savings 4.00%

Stuart_W

Another reduction to add with effect from today (11/12/08)

BofE base rate: 2.00%
Smile Current Account 0.12%
Smile ISA 1.75% if you have a smile current account
Smile ISA 1.00% if you do not have a smile current account
Smile Savings Account 1.25% if you have a smile current account
Smile Savings Account 0.40% if you do not have a smile current account
3 year fixed savings 3.50%