Possible Bank of Scotland 5% acc

simonfitba

Afternoon,

Anyone heard anything about the BoS launching a new 5% account?

Pal of mine was in branch last week to open a Vantage acc and was told it was going to be superseded this month or next.

Anybody got any other info or was the bank worker mistaken?

Archi_Bald

https://forums.moneysavingexpert.com/discussion/4899601

I wouldn't hold my breath regarding the interest rate but 5% would obviously be nice. What do you know about it?

bsms1147

BoS Ceilidh, no T+Cs yet but bring a drink.

Herbalus

Assuming it's the same as Lloyds, I was told last week their staff haven't been for their training on the new account just yet, but it will probably launch in the new quarter, so late March/early April.

I was told "preferential rates" for those in the new "club", which is how it will be branded, but nothing more specific than a £5/month fee if funding requirement of £1500 isn't met. It's going to be more of a package of things from what I gather, but nobody knows exactly what that means yet.

simonfitba

Herbalus wrote: »

Assuming it's the same as Lloyds, I was told last week their staff haven't been for their training on the new account just yet, but it will probably launch in the new quarter, so late March/early April.

I was told "preferential rates" for those in the new "club", which is how it will be branded, but nothing more specific than a £5/month fee if funding requirement of £1500 isn't met. It's going to be more of a package of things from what I gather, but nobody knows exactly what that means yet.

Sounds like a rival to Santander's 123.

DragonQ

My FlexDirect 5% expires this week so a new 5% account would be very welcome!

bigadaj

DragonQ wrote: »

My FlexDirect 5% expires this week so a new 5% account would be very welcome!

Same here, but I think I'm converting mine to a flexplus, should wash my mouth out really but it's a packaged account that really seems worthwhile, and partially paid for by the 3% interest as well.

guymo

bigadaj wrote: »

Same here, but I think I'm converting mine to a flexplus, should wash my mouth out really but it's a packaged account that really seems worthwhile, and partially paid for by the 3% interest as well.

People should save this post and re-quote it when the question "why do these banks offer higher rates of interest on current accounts than savings?" is asked.

Thrugelmir

Herbalus wrote: »

but nothing more specific than a £5/month fee if funding requirement of £1500 isn't met.

Account fees are getting ever closer. Free banking has had its day in the UK.

apt

Thrugelmir wrote: »

Account fees are getting ever closer. Free banking has had its day in the UK.

Bankers keep making noise to that effect, but the great majority of customers want 'free banking' so it will only disappear if there's a stitch-up.

planteria

guymo wrote: »

People should save this post and re-quote it when the question "why do these banks offer higher rates of interest on current accounts than savings?" is asked.

...i just opened a FlexDirect on friday. and actually thought to myself 'maybe i will open a FlexPlus alongside, or afterwards'