Principality E ISA rate drops to 4.05

Elmer_Dudd

:mad: Rather annoyed that the Principality E ISA has dropped to 4.05% but I have only now got an email from them telling me this happened on 1/12/08.:mad:

How long does it take to do a mass email:mad:

Elmer:cool:

thomas1

sorry to hear that ,
but i have just posted a thread at the same time as yours on the same subject.
At least you got told , i haven't had a peep from the Alliance and leicester and didnt know the rate had dropped till i sat down today . the banks are quick anough at telling you when you owe them .
SHOULD THEY HAVE AN OBLIGATION TO TELL BEFORE THEY CHANGE THE RATES ? CAN WE CLAIM .
I dont even know how long the rates have been at that level .

Hungerdunger

Here's what their Ts and Cs say:

10. We will give you notice of a reduction in an interest rate made for one of these reasons as
soon as we can and if possible before the change takes effect, which will be on the date
specified in the notice.
We will give notice:
10.1 by general notice published within 3 working days of the change in our branches and through our Customer Contact Centre, together with advertisements in The Times, The Western Mail, The South Wales Evening Post, South Wales Echo, South Wales Argus and Daily Post; or
10.2 by letter or other personal notice

So as long as they have posted notices within three days, it appears they have met their obligations.

Elmer_Dudd

So I have to get a newspaper of their choice to be informed on them slashing rates...................
What a great 'out' that is.:mad:

No wonder we distrust and dislike them so much.

Why not email me it at the time.........................:mad: :mad:

Oh well...my ISA's will be off on their travels I guess.

Elmer;)

Hungerdunger

I can understand the way you feel, but at the same time, if you have variable rate savings, I think you have a certain amount of responsibility for keeping up with the changes in rates, especially in view of the current volatile conditions. Only takes a couple of clicks!

Old_Slaphead

Can't understand why e-ISA is 4.05% whilst e-Saver is 4.51%.

Would have thought that savers are more unlikely to transfer out of e-ISA so it should attract a better rate.

Presumably PBS is keeping some of the 20% tax saving for itself ????