Bank of Scotland IASA

nap_3

Has anyone got one of these Instant Access Savings Accounts?

They announced new rates from 1st June @ 5.50% - but their web site is still reflecting the position as of before 1st June, saying Current Rate 5.25% and from 1st June 5.50% .... although it is now the 14th June.

If you log onto your account the gross rate still shows the old rate as well.

I've contacted them by phone and one guy told me they know it's wrong and will be put right sometime - but he doesn't know when. I rang back a few days later and a lady said 'what do you expect me to do about it!" ---- then when I rang again I was fobbed off with someone telling me I'd be geting the new rate (probably), although it was displaying the old one, because it was now June.

I'm not sure whether just to move my money or wait and see at the end of June how much interest they credit - from that I can work out the gross myself.

Has anyone else noticed this - or is it my account just stuck on the old rate?

debbie42

I wouldn't worry about the website info as they often seem to lag behind: the A&L and YBS being two very recent examples. As long as they work out the interest correctly, of course.

jem16

nap wrote: »

Has anyone got one of these Instant Access Savings Accounts?

They announced new rates from 1st June @ 5.50% - but their web site is still reflecting the position as of before 1st June, saying Current Rate 5.25% and from 1st June 5.50% .... although it is now the 14th June.

If you log onto your account the gross rate still shows the old rate as well.

I've contacted them by phone and one guy told me they know it's wrong and will be put right sometime - but he doesn't know when. I rang back a few days later and a lady said 'what do you expect me to do about it!" ---- then when I rang again I was fobbed off with someone telling me I'd be geting the new rate (probably), although it was displaying the old one, because it was now June.

I'm not sure whether just to move my money or wait and see at the end of June how much interest they credit - from that I can work out the gross myself.

Has anyone else noticed this - or is it my account just stuck on the old rate?

Have you got online banking? This usually shows the interest rate when you click on your account.

I have also opened one and I can see it on online banking. However I can't get further at the moment as it still says awaiting details even though I posted back the signed form last Saturday.

nap_3

jem16 wrote: »

Have you got online banking? This usually shows the interest rate when you click on your account.

I have also opened one and I can see it on online banking. However I can't get further at the moment as it still says awaiting details even though I posted back the signed form last Saturday.

I've got online banking - and the gross rate quoted there is also incorrect. The only way I'll find out is by waiting until they credit the interest, I have monthly option at slightly lower rate, and see what rate they've applied.

jem16

I've got online banking - and the gross rate quoted there is also incorrect.

Sorry just noticed you said that in Post 1.



The website I applied from showed the rate of 5.5%. Just checked again and yes it does say 5.5%.

http://www.bankofscotlandhalifax.co.uk/savings/directsavingsIASA.asp