Santander ISA

Jezza747

In April last year I visited this site to get recommendations for a best buy ISA. MSE advised that a Santander ISA was paying 1.6% and that if there was over 20K in it at the end of the year the rate would rise to 2%. Santander have now written to me to say that the rate will be REDUCED to 1% which obviously I am not happy about. Obviously I can change provided next year but how reliable ( sorry MSE ) was the advice that the rate would rise?
Jezza

eskbanker

MSE has many feature writers and contributors who can offer opinions, and in some cases facts, but always always always check with the actual product providers for the relevant Ts & Cs!

PeacefulWaters

Jezza747 wrote: »

In April last year I visited this site to get recommendations for a best buy ISA. MSE advised that a Santander ISA was paying 1.6% and that if there was over 20K in it at the end of the year the rate would rise to 2%. Santander have now written to me to say that the rate will be REDUCED to 1% which obviously I am not happy about. Obviously I can change provided next year but how reliable ( sorry MSE ) was the advice that the rate would rise?
Jezza

It was a tiered product. At the time of writing MSE were correct. But Santander can change the product if they like. They did.

BobQ

Jezza747 wrote: »

In April last year I visited this site to get recommendations for a best buy ISA. MSE advised that a Santander ISA was paying 1.6% and that if there was over 20K in it at the end of the year the rate would rise to 2%. Santander have now written to me to say that the rate will be REDUCED to 1% which obviously I am not happy about. Obviously I can change provided next year but how reliable ( sorry MSE ) was the advice that the rate would rise?
Jezza

Do you really think anyone on any website can guarantee an account's interest rates 12 months later apart from the website of the provider of the account?

MSE does a great job and many regular posters devote their time to telling you what the best current rates are, but you seem to want jam on it!

Jezza747

dear Bob Q
I do not want jam on it, I was just querying if I could challenge Santander on this issue.I am not an expert and if MSE had stated that the rise in rate would occur there must have been some evidence or comment at the time to support this.That is all I was trying to establish.Terribly sorry for having the timerity to ask. I won't bother again.

PeacefulWaters

Jezza747 wrote: »

dear Bob Q
I do not want jam on it, I was just querying if I could challenge Santander on this issue.I am not an expert and if MSE had stated that the rise in rate would occur there must have been some evidence or comment at the time to support this.That is all I was trying to establish.Terribly sorry for having the timerity to ask. I won't bother again.

You could, of course, choose to ignore a post that explained the situation factually to you and focus on something elsewhere that you didn't like.

Oh, you did.

ViolaLass

Jezza747 wrote: »

dear Bob Q
I do not want jam on it, I was just querying if I could challenge Santander on this issue.I am not an expert and if MSE had stated that the rise in rate would occur there must have been some evidence or comment at the time to support this.That is all I was trying to establish.Terribly sorry for having the timerity to ask. I won't bother again.

It was true at the time. Doesn't mean it was going to stay true forever.

Jezza747

Thank you Peaceful Waters and ViolaLass for your advice. As a result I am much more aware of the value of the opinions and advice on the MSE website.