Mini Cash ISA Interest Rates - Whistle Blower Thread

I have noticed in the past that when mini cash ISA interest rates have changed (usually downwards), providers do not usually send notification of the rate change until several weeks after the new lower rate has become effective.

I understand that a number of Halifax ISA holders were caught out by this a few months ago, and I was also in a similar situation with my M&S ISA last year.

Now apparently there is nothing underhand or illegal about this, although it has always struck me as odd.

However, I thought it might be a good idea to have a thread (as a sticky, also - Mods?) where users of MSE can post when they know that an interest rate has changed. This would mean that informed decisions on whether to switch to a provider with a better interest rate could be made much sooner, enabling users of this forum to gain a better rate of interest elsewhere.

Obviously the thread would need to be moderated to ensure that it contained only relevant information on these interest rate changes, and not off-topic discussion, but I thought it might be worth a try?

:A emphatiC_hanK:A


  • masonicmasonic Forumite
    19.3K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Personally, I prefer the current system of posting each rate change in a new thread. An appropriately titled new thread, such as 'XXX reduces rate of XXX account to X%' is much more likely to grab my attention if I had that account.
  • 100+ reads and only one reply, opposing my suggestion.

    Obviously not such a popular idea . . . oh well.

    :A emphatiC_hanK:A
  • afro_2afro_2 Forumite
    146 Posts
    I like the idea...

    How about using the tart-alert system in a different way?

    Add your account, and email address, and when the advertise rate changes you get an email detailing the change, and the better rates elsewhere?

    Hmm, maybe I should just write something to do this myself before someone steals the idea!
    All my views are my monkey's views. I give advice on behalf of my pet monkey and do I give banana related advice. All my posts are my monkey's opinion and no-one else's.
  • XbigmanXbigman Forumite
    3.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I don't think this is a goer. There are so many different versions of savings account and ISA's, some with the same name, that it would be hard for any individual to work out exactly what had changed. You would also be at the mercy of the accuracy of the poster's information. There are, after all, a lot of posts that are incomplete or misleading because the poster doesn't really understand whats happening. I think we should keep the current system of individual threads and just all keeping our eyes on the ball.

    Xbigman's guide to a happy life.

    Eat properly
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    Save some money
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