Abbey National Postal Mini Cash ISA

pin

MiserlyMartin wrote:

I just phoned Abbey who have told me that the rate will fall from 5.35% to 4.9%. I can't remember if the woman told me when they will be making the change, but I guess it will be next week. How does 4.9% compare to the competition now? Thats sneaky though a 0.45% drop when only a 0.25% reduction in base rates. Shame on you Abbey! You think we won't notice!?

I hate base rate changes, it always changes the playing field in the rates wars, one has to check all the rates from everybody once they have all moved and it doesn't happen all at once.

Wouldn't they have to notify people by post that they are reducing the interest rate?

[Deleted User]

pin wrote:

Wouldn't they have to notify people by post that they are reducing the interest rate?

:rotfl: :rotfl: :rotfl:
I bet you believe in Father Christmas as well!

pin

Deleted_User wrote:

:rotfl: :rotfl: :rotfl:
I bet you believe in Father Christmas as well!

Yep, because he's real, isn't he?

[Deleted User]

pin wrote:

Yep, because he's real, isn't he?

Touché!

No offence intended. Just me being cynical.

jimclark1967

pin wrote:

Wouldn't they have to notify people by post that they are reducing the interest rate?

According to the terms & conditions they only have to notify us within 30 days of making the change. Best keep an eye on them!

JC

djblamire

Who would be the current next best to move to from Abbey ??

Although, not all banks have updated their rates yet, so I suppose it is difficult to know who to move too....

Daniel

pin

djblamire wrote:

Who would be the current next best to move to from Abbey ??

Although, not all banks have updated their rates yet, so I suppose it is difficult to know who to move too....

Daniel

I'm going to give it a month for things to settle down and then see which rates are the best. It could be the case that other banks drop their rates below 4.9% meaning Abbey still looks the best.

ctm_2

Update on my complaint to Abbey:

Got a letter at the beginning of the week saying they have added an interest adjustment to my ISA so that from the date I requested the transfer they have paid the difference between what I was getting when the ISA was with my previous company and what i would have got were the ISA with them.

Also got another letter today from someone else apologising for hassle I had trying to contact the Customer Relations team, who are actually contactable by phone, and the time taken etc, with a cheque for £25.

jimclark1967

Abbey's press release shows the Postal ISA (Issue 2) dropping from 4.9% to 4.65% on 1st september but makes no mention of the Issue 1 rate which is still showing as 5.35% on the website - could this be a great piece of news or am I being unduly optimistic?

http://www.aboutabbey.com/media_centre-press_releases?id=11335

JC

[Deleted User]

jimclark1967 wrote:

Abbey's press release shows the Postal ISA (Issue 2) dropping from 4.9% to 4.65% on 1st september but makes no mention of the Issue 1 rate which is still showing as 5.35% on the website - could this be a great piece of news or am I being unduly optimistic?

http://www.aboutabbey.com/media_centre-press_releases?id=11335

JC

See this thread posts 17 and 18.