IF - Why new customers only?

chrisw

I have some savings with Intelligent Finance at a pretty good rate of 2.49%, although this is dropping to 1.8% in February.

However, I've noticed that all the IF savings accounts are now for existing customers only. Does anyone know why? Are these accounts now likely to become dormant forgotten about accounts?

Thanks.

innovate

Could be Lloyds are winding up IF slowly but surely.

Linton

It looks like the future of IF is uncertain see here. I would guess that if that is the case they dont want to lose existing customers before alternative arrangements within the Lloyds group are set up.