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New High Interest Current Account for people in the Central TV area
Joey_3
Posts: 109 Forumite
Can't find any info on this elsewhere so thought I would share it on the forum.
It's similar to many of the new high interest current accounts, it seems many banks are (sensibly) jumping on the bandwagon.
This one is a pilot scheme at the moment for people in the Midlands (Central TV area). It's Co-operative Bank, and gives 4% for the first £2500, 1% on anything after that. You need to pay in £1000 per month, however this does not need to be your salary. Nothing particularly incredible, but if you are concerned about ethical banking I believe they are the only bank to offer reassurance on this matter.
If you are an existing customer it is supposed to be easy to change, however I was informed that because the scheme is so new they still have to process it in a similar way to setting up a new account - you don't have to complete a form if you are an existing customer though.
Here's more info, including a postcode check to see if you are eligible: https://www.switch4good.com.
Hope this helps someone, I don't think I'm going to use it but thougt it might be useful for others and it doesn't seem to be widely advertised yet.
It's similar to many of the new high interest current accounts, it seems many banks are (sensibly) jumping on the bandwagon.
This one is a pilot scheme at the moment for people in the Midlands (Central TV area). It's Co-operative Bank, and gives 4% for the first £2500, 1% on anything after that. You need to pay in £1000 per month, however this does not need to be your salary. Nothing particularly incredible, but if you are concerned about ethical banking I believe they are the only bank to offer reassurance on this matter.
If you are an existing customer it is supposed to be easy to change, however I was informed that because the scheme is so new they still have to process it in a similar way to setting up a new account - you don't have to complete a form if you are an existing customer though.
Here's more info, including a postcode check to see if you are eligible: https://www.switch4good.com.
Hope this helps someone, I don't think I'm going to use it but thougt it might be useful for others and it doesn't seem to be widely advertised yet.
0
Comments
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I'd have that if I was eligible but I'm not.
I'd prefer ethical banking but I'm not prepared to accept a dog poo rate of interest for it, this is pretty good though.If you don't like what I say slap me around with a large trout and PM me to tell me why.
If you do like it please hit the thanks button.0 -
Yeah, I think it is a reasonable interest rate - not the best out there, but certainly the best if you are concerned about ethical issues.0
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