Rates down at West Brom Privilege A/C

edda

West Brom building soc has reduced its rates on the Privileged Membership account from 1st May.

All rates have gone down by 0.1%.

I got the news in a letter saying I could invest in their fixed rate bond to keep a better rate as a privileged member. But as its well below 6%, I shall be going somewhere else.

bristolleedsfan

edda wrote: »

West Brom building soc has reduced its rates on the Privileged Membership account from 1st May.

All rates have gone down by 0.1%.

I got the news in a letter saying I could invest in their fixed rate bond to keep a better rate as a privileged member. But as its well below 6%, I shall be going somewhere else.

cheers 4 info west broms rates werent that great anyway, seems as some building societies are struggling to show the benefits of mutuality

people can see for themselves what Privileged membership means for westbromwich members

http://www.westbrom.co.uk/westbrom/savings.category?id=9

baby_boomer

So what?

Everyone knows that these so-called "privilege rates" can always be beaten in the market.

Other top 11 societies with "special member rates" like Cheshire or Coventry just prove the point. Britannia's "member reward" scheme is a small reward on top of some of the worst savings rates out there.

It never pays to believe mutual propaganda. As BLF suggests, anyone who does is a mug.

bristolleedsfan

baby_boomer wrote: »

So what?

Everyone knows that these so-called "privilege rates" can always be beaten in the market.

Other top 11 societies with "special member rates" like Cheshire or Coventry just prove the point. Britannia's "member reward" scheme is a small reward on top of some of the worst savings rates out there.

It never pays to believe mutual propaganda. As BLF suggests, anyone who does is a mug.

absolutely correct westbroms "priviledged" isa is 5.10% :rotfl: funny enough i was in brittania branch in week i was asked have u any other accounts with us i replied i would do if your rates were better :rotfl: cheshires "priviledged" reg saver is 5.65% and coventry play the famous game of letting its accounts become mediocre once people have been sucked into them, other usual suspects are scarborough and chelsea to name a few
one thing i like about yorkshire BS is they dont adopt that behaviour their rates may not always be the best but they are generally above average in the long term

daily mail is as obsessed with mutuals as daily express is with house prices :rotfl:

edda

baby_boomer wrote: »

So what?

Everyone knows that these so-called "privilege rates" can always be beaten in the market.

Other top 11 societies with "special member rates" like Cheshire or Coventry just prove the point. Britannia's "member reward" scheme is a small reward on top of some of the worst savings rates out there.

It never pays to believe mutual propaganda. As BLF suggests, anyone who does is a mug.

Posting was made for info - for the benefit of those who didn't know.

I use this site to find out what is going on and like to reciprocate if I can.

If its not of any use to you, then you can just ignore the post - perhaps others aren't as well informed as you are.

ED

edda - Thanks for alerting us re West Bromwich Bdg Soc rates.

bristolleedsfan - I too am grateful to Yorkshire Bdg Soc for consistency of savings rates.

bristolleedsfan

ED wrote: »

edda - Thanks for alerting us re West Bromwich Bdg Soc rates.

bristolleedsfan - I too am grateful to Yorkshire Bdg Soc for consistency of savings rates.

Sadly West Bromwich Building Society are famous for not maintaining good savings rates once upon a time their postal accounts and monthly savers were market leaders :rolleyes: feeling the need to reduce rates by 0.1% and the cost of writing to everybody isnt the behaviour u would expect from a building society

btw wb ed ive been missing your postings :cool:

ED

Those were the days indeed, bristolleedsfan. Curious action by West Brom. Improvement experienced by me recently in the Society's secure online messaging, so maybe funding that is part of the penny-pinching.