I give up....

masonic

This is my favourite quote:

What happens if I die before the 3 years are over, can I still access my money?

Perhaps someone should compile a list of accounts that can be taken with you when you cross to the other side. :rotfl:

InvestInPoker

karlie88 wrote: »

And again on another thread: http://www.hotukdeals.com/deals/125-00-halifax-bank-account-switch-no-restrictions-225-cashback-with-other-info-2143577?p=24415489

Sigh...

It's not worth your time mate, if they don't get it that's their problem not yours and you shouldn't sweat it. I remember years ago on some other account trying to explain some gambling concepts to the matched betting board on this forum and being met with a mixture of befuddlement and amusement.

The argument in this thread here (starts a few replies in) pretty much sums up what seems to be the average intelligence in some online forums http://forum.bodybuilding.com/showthread.php?t=107926751

jimjames

ChesterDog wrote: »

To be fair, I think there is a tacit understanding born from familiarity among most of us when duscussing these things that by saying "6%" in these circumstances we mean "6% per annum".

I don't understand why anyone would think they get interest on money that isn't deposited.

But then we do get posts here about ISAs where the expectation seems to be that if you pay in just before the tax year end you get interest for the full year.

ChesterDog

Quite so, Jim, and that answers your question.

It's not that people think that they ought to get interest on money not yet deposited, it is that their interpretation of "x%" as a return on investment rather than an AER seems, to them, to falsely imply that it is the case when - hopefully, clearly to almost all - it is not the case.

People feel they are being offered x% as a return on investment on all deposited amounts. They feel they are being misled.

Edit: a quick glance at the link from Karlie shows what it's about, with someone announcing that the account states it offers 6% but that it's really 3% averaged across all deposits. That error comes about because they see '6%' but fail to take notice of 'pa', 'AER' and so on. It's an error compounded (excuse the pun) because those au fait with it all tacitly understand that the suffix is implied and therefore tend not to use it when discussing these things with those who are not.

(Sorry sbout the split infinitive earlier.)

wooder

InvestInPoker wrote: »

The argument in this thread here (starts a few replies in) pretty much sums up what seems to be the average intelligence in some online forums http://forum.bodybuilding.com/showthread.php?t=107926751

.... got to say, I just read this bodybuilding thread with tears rolling down my legs... :rotfl: absolutely hilarious, great find.

vouch0r

you should be very grateful, if everyone took advantage of regular savers/current account multiples and various bonus/switching incentives just for the interest and or benefits... id think there would be very few of them left to be taken advantage of

Broken_Biscuits

without trying to sound ageist...

a lot of pensioners have not had the same exposure to internet banking and shopping around that is now the norm, particularly to users of this site. My parents and countless people like them want the security ( in their mind) of having one account even if it pays slightly less. pensioners are likely to be cash rich. I run quite a few bank accounts at my age. Fast forward 30 years and i would probably need about twice as many.

ive had a few chats with my parents about making their money work for them. Its too much hassle for them and anything less hassle beyond a bank account is too much risk.

there are many pensioners that are financially savvy but much more who respect brand loyalty ahead of actual returns.

mgdavid

Broken_Biscuits wrote: »

........
ive had a few chats with my parents about making their money work for them. Its too much hassle for them and anything less hassle beyond a bank account is too much risk.........

I'm sorry your parents are like this, because it's unnecessary. Age is an attitude and a state of mind. There's nothing like ignoring progress and new technology to make you seem like you are old before your time. Old age & retirement actually are enablers as they give you the time to do the research and the money juggling, so it doesn't seem like a chore or hassle but all part of the fun!

YorkshireBoy

mgdavid wrote: »

Age is an attitude and a state of mind.

My 83 year old dad's current account was a Yorkshire Bank Current Account Plus. Even though he already had >£1K per month going in, it took me several months of chipping away* before he'd make a simple telephone call to switch it to their Direct account for 4% AER.


* On the last day of every month I asked him to throw £8 in the wheelie bin. It still took 3 or 4 months before he finally got the message though!

ffacoffipawb

karlie88 wrote: »

So, I was replying to a thread about the new pensioner bonds earlier over on 'Hot UK Deals'.

I was reminding people that there are better rates out there with high interest rate current accounts and regular savers.

This was my post: http://www.hotukdeals.com/deals/ns-guaranteed-growth-bonds-now-released-2-8-4-p-a-over-65s-only-2118946#post24130974

Then you get the following reply here.

And then my reply here.

And then their reply here.

And then someone else joins in here.

Followed by another reply here.

Then my reply here.

Followed by another response here.

:cool:

Indeed. They're not very bright. Must be Labour voters.