MSE News: Does loyalty pay when it comes to cash ISAs?

Archi_Bald

standbythelads wrote: »

Surprised United Trust Bank in London has not been mentioned. 5 year fixed cash isa bond pays 2.75% on amounts £5k or above but only accepts transfers in. £85k cover via FSCS and interest paid annually to nominate bank. Best one I found for people with maturing isas.

Interest rate dropped to 2.3% which isn't exciting for a 5 year commitment
https://www.utbank.co.uk/deposits/isa-accounts/

Pincher

redmalc wrote: »

Pincher, I disagree with your comments about HSBC downgrading your account,I am a Premier Customer and only when we joined which was 8 years ago did we fulfill the criteria.

It's just what they told me when I applied.


As far as the poppy10 is concerned, there is no need to hurry, because HSBC will nudge you if they want you to do something about it.

poppy10_2

Pincher wrote: »

As far as the poppy10 is concerned, there is no need to hurry, because HSBC will nudge you if they want you to do something about it.

But how do I open up the Premier current account in the first place if I don't have £50k invested with HSBC? Will they open the account if I just promise that I will be moving my ISAs to them?

Pincher

poppy10 wrote: »

But how do I open up the Premier current account in the first place if I don't have £50k invested with HSBC? Will they open the account if I just promise that I will be moving my ISAs to them?

It's not a hostage situation, where you hand over £50k first, before they will open an account for you.


They do make a credit check, so you do have to prove your identity, address, etc.

Call_Centre_Guru

I've been with the Nationwide BS for 36 years and have continually asked myself why! Their marketing department appear divorced from their main operation, they state in Ads they don't have shareholders and have 'members' at the heart of what they do, so they should have the best rates on the high street but in fact are far from it, their 'loyalty' rates just make you laugh, they should take a leaf from the Coventry BS at least they try and offer a fair rate, there must be a lot of entertaining going on at head office otherwise where are the profits being ploughed back to? Certainly not to loyal customers!

apt

The Coventry ISA Reward (no longer available for new accounts) is still a reasonable return for loyalty at 2.5% with unlimited access.

jimjames

Call_Centre_Guru wrote: »

I've been with the Nationwide BS for 36 years and have continually asked myself why! Their marketing department appear divorced from their main operation, they state in Ads they don't have shareholders and have 'members' at the heart of what they do, so they should have the best rates on the high street but in fact are far from it, their 'loyalty' rates just make you laugh, they should take a leaf from the Coventry BS at least they try and offer a fair rate, there must be a lot of entertaining going on at head office otherwise where are the profits being ploughed back to? Certainly not to loyal customers!

They lend out at 2.49%, they need some margin to cover their costs so I'm sure it's a difficult balancing act.

They also offer accounts at 5% for limited amounts so overall I think they do pretty well for members - at least those who have modest savings balances or are borrowers too.

colsten

apt wrote: »

The Coventry ISA Reward (no longer available for new accounts) is still a reasonable return for loyalty at 2.5% with unlimited access.

why mention it then?

apt

colsten wrote: »

why mention it then?

Because it's the best current example of loyalty paying for cash ISAs, which, in case you've forgotten, is the subject of the article.

kookai9

Call_Centre_Guru wrote: »

I've been with the Nationwide BS for 36 years and have continually asked myself why! Their marketing department appear divorced from their main operation, they state in Ads they don't have shareholders and have 'members' at the heart of what they do, so they should have the best rates on the high street but in fact are far from it, their 'loyalty' rates just make you laugh, they should take a leaf from the Coventry BS at least they try and offer a fair rate, there must be a lot of entertaining going on at head office otherwise where are the profits being ploughed back to? Certainly not to loyal customers!

In the last few days ,they've dropped rates on almost all their products .they are terrible.