IceSave 5.45% from 15 November

gavcooper

http://www.thisismoney.co.uk/news/article.html?in_article_id=414500&in_page_id=2

DocProc

And where did http://www.thisismoney.co.uk get there information from, might I ask?

Icesave have their own web site and Landsbanki also have their own web site too. Despite searching these two sites from top to bottom, including looking particularly for potential references from their Press Release sections, I can find nothing by way of 'FIRST HAND INFORMATION' to indicate that Icesave have increased their rates at all.

So where has this information come from?

Is ThisIsMoney.co.uk making a mistake and confusing Icesave with HiSAVE?

PS. Like many others I have been e-mailed by HiSAVE to advise me on their savings account interest rate increase. Nothing so far from Icesave, though.

orainsear

Moneyextra are saying the same thing. Link

Kazza242

DocProc wrote:

And where did http://www.thisismoney.co.uk get there information from, might I ask?

Icesave have their own web site and Landsbanki also have their own web site too. Despite searching these two sites from top to bottom, including looking particularly for potential references from their Press Release sections, I can find nothing by way of 'FIRST HAND INFORMATION' to indicate that Icesave have increased their rates at all.

So where has this information come from?

Is ThisIsMoney.co.uk making a mistake and confusing Icesave with HiSAVE?

PS. Like many others I have been e-mailed by HiSAVE to advise me on their savings account interest rate increase. Nothing so far from Icesave, though.

Thisismoney get their information from Moneyfacts. Moneyfacts receive the information directly from the banks/building societies and upload the information to their website. Thisismoney and Moneyfacts are both correct, Landsbanki are increasing the rate of their IceSave account from 5.20% to 5.45% on 15 November 2006.

The info regarding the IceSave rate increase is mentioned in some of the threads at bottom of page 1 of this forum and also on page 2.

Moneyfacts' Internet Accounts list

DocProc

All of these are 'second hand' sources of information.

Can someone give me a 'first hand source'?

I think not.

I'll give them a ring tomorrow and ask them direct.

This is what they currently say on their web site, with nothing at all mentioning any interest rate rise as from any particular date in the future:

"5.20% gross p.a./AER is the rate payable when interest is paid annually.

You can also opt to have your interest paid monthly with an interest rate of 5.08% gross p.a./5.20% AER"

Icesave's "Our guarantee":

"The gross Annual Equivalent Rate of Interest (AER²) paid on all amounts is guaranteed to exceed the Bank of England Base Rate³ by at least 0.25% until 1 October 2009 and thereafter not to be lower than the Bank of England Base Rate until 1 October 2011."

stphnstevey

Why don't you just wait a few days till it's supposed to happen. Then you can have it written in stone (or blood as you seem to want it!)

[Deleted User]

DocProc wrote:

I'll give them a ring tomorrow and ask them direct.

You've answered your own question. End of. :rolleyes:

si1503

DocProc wrote:

And where did http://www.thisismoney.co.uk get there information from, might I ask?

Icesave have their own web site and Landsbanki also have their own web site too. Despite searching these two sites from top to bottom, including looking particularly for potential references from their Press Release sections, I can find nothing by way of 'FIRST HAND INFORMATION' to indicate that Icesave have increased their rates at all.

So where has this information come from?

Is ThisIsMoney.co.uk making a mistake and confusing Icesave with HiSAVE?

PS. Like many others I have been e-mailed by HiSAVE to advise me on their savings account interest rate increase. Nothing so far from Icesave, though.

:rolleyes:............

DocProc

I have just come off the phone to Icesave and had the following adamantly confirmed to me:

Anything out there anywhere on the internet that talks about Icesave raising its interest rates to an amount above the currently advertised 5.2% is just pure speculation.

1. An official announcement concerning the interest rate on its Icesave Internet Savings Account will be made by Icesave on Wednesday 15th November.

2. If there is any change, then this change will be notified to customers by e-mail.

3. Any web sites on the Internet stating or giving the impression that Icesave wil be raising its rate to 5.45% on 15th Novemeber are only speculative and the information may well be incorrect. This is because an official announcement on interest rate change has not yet been made by Icesave.

chesky369

But, as has been shown by other dealings with banks, when you telephone you get to speak to the fairly lowly staff who deal direct with the public and they usually know less than we do from reading threads like this.

ffacoffipawb

chesky369 wrote:

But, as has been shown by other dealings with banks, when you telephone you get to speak to the fairly lowly staff who deal direct with the public and they usually know less than we do from reading threads like this.

Indeeed, rate confirmed at 5.45% via press release ....

http://www.icesave.co.uk/media/rate_rise_15_11_06.PDF