savings earning no interest - past mistake

AndyT678

EdGasket wrote: »

My wife likes to leave money in old accounts earning no interest. She says she has more important things to worry about....like cooking my dinner I guess

I share your pain. Apparently it's "too difficult" to move money into a new account. :mad:

Aretnap

w00519772 wrote: »

Is it worth writing a letter of complaint for being "deprived of money"? I guess not because I am not because I am at fault for not switching?

You haven't been deprived of money. They offered you an account which didn't pay any interest, you took it, and it did what it said on the tin.

You can't really complain about it, any more than you can complain to Tesco if you've been buying their burgers for ten years before you find out that Sainsbury's sell nicer burgers more cheaply.

You're not the first person to put money an an account which doesn't pay a good rate of interest without checking if there's a better one available, and you won;t be the last. At least you know better now.

savings_my_hobby

Not sure how your getting 5% from HSBC.

If you are the great, if you are not then think about nationwide flex direct for 1 year (then the rate drops) and if your are saving for a house look into the Help to Buy ISA, available from December 2015.
If you have already opened an ISA since April 2015 then you must wait until April 2016 to open one

Archi_Bald

savings_my_hobby wrote: »

If you have already [STRIKE]opened [/STRIKE]paid into [STRIKE]an[/STRIKE] a cash ISA since 6th April 2015 then you must wait until 6th April 2016 to [STRIKE]open one[/STRIKE]pay into a HTB ISA - - unless your provider (such as Nationwide) allows you several cash ISA accounts in the same tax year, or you are able to transfer your entire existing 2015-16 ISA into the HTB ISA

fixed that for you

verybigchris

I don't know of any HSBC account paying 5%, but there are a few that pay 0.5%. I hope the OP hasn't misread their rate.

savings_my_hobby

thanks Archi

djpailo

I made a mistake, but my mistake was only for several months. This site has really made me more conscious about money. I am now better on top of things as is my partner.