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First Direct Cash ISA Drop :(
6022tivo
Posts: 819 Forumite
Transferred my ISA to First Direct a few months ago.
Just had a letter saying the interest is dropping.
In my case from 3% to 2%
Gutted it is such a large drop..
Options guys?
Just had a letter saying the interest is dropping.
In my case from 3% to 2%
Gutted it is such a large drop..
Options guys?
0
Comments
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Options guys?
http://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html
Go figure, as our American cousins say....:(0 -
May just drive up to Wakefield, dress as a half bird, half mammal platypus sit outside head office and demand my 3%"0
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Transferred my ISA to First Direct a few months ago.
Just had a letter saying the interest is dropping.
In my case from 3% to 2%
Gutted it is such a large drop..
Options guys?
Wait until nearer the time.
Hopefully some of the other banks will realise that there's a huge amount of ISA money dropping to a lower rate in October/November (notably the Nationwide 4.25% Flexclusive ISA) and so offer better rates around then.
This may just be wishful thinking on my part...but I don't think there's any hurry to look for somewhere else. Just make sure you do in October.0 -
I agree it's probably best to wait until closer to the 'drop' date - - though are we clutching at straws? Banks/BSs still have no incentive whatsoever to pay big (comparatively) interest to savers, and I can't see what would make them want to retain a whole lot of 'expensive' ISA funds. Would be delighted if I was too pessimistic but I fear I am not0
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This may just be wishful thinking on my part.
I fear you may be right! Just see how many providers no longer accept transfers in......0 -
With the government throwing free very low interesting money at the banks, I suppose they have no interest in paying 3%+ to us savers..
Maybe time to stop the QE?
EDIT: I have had a drink, the above may not really mean anything.0 -
Maybe time to stop the QE?
I don't think QE should be stopped purely to help savers (and I am a saver).
We've had a banking crisis and whilst savers have my sympathy there are other issues at stake - like the whole economy.
Savers should consider their options.
I'm sure that some could go down other routes e.g. low risk S&S ISA.0 -
Where did you get the "+" from? It was 2.96% / 3% AER.With the government throwing free very low interesting money at the banks, I suppose they have no interest in paying 3%+ to us savers..
Received my notification yesterday too - and am seriously PO'd about it. I doubt we'll see anything better to transfer to before 1st Nov 13. Value-for-money-for-me-puhleeze!
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy
...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!0 -
I got mine, dropped from 2.2 to 1.85 0
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What a shower of !!!!!! they are, only transferred a few months back to take advantage of the 3%, now down to 2%.0
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