Unintelligent Finance..........

ffacoffipawb

"Intelligent Finance, part of HBOS, is slashing the current- account interest it pays to customers with both current and savings accounts.

Since launch it has paid customers with both accounts the same — 4.75% at present — on all their cash. However, from next month customers will receive only 2.75% on money in their current accounts. Authorised and unauthorised overdraft rates will remain at 9.8% and 25% and the IF savings account will continue to pay 4.75%."

And here's the link ..........

http://www.timesonline.co.uk/newspaper/0,,2770-1501892,00.html

Unimpressed, as it causes effort for us to shift money between accounts with IF and I am sure it will cost them in moving it for us too.

Cahoot here I come.

derrick

But surely it will be nearly as easy to keep the money in the savings account, earning the higher rate, then move it instantaniously from the savings to the current account when needed over the phone or on line