Santander 123 rate to be cut to 1.5%

davethorp

Got our letter about the interest rate reduction today. Which is a little odd as we downgraded to 123 lite last month as we only get the cashback anyway

xylophone

Got our letter about the interest rate reduction today.

I haven't had mine yet - do you think I might be a special case and they'll continue to pay the 3%....:rotfl:

Hope springs eternal and all that!

1kevfp

As I have 3 x SATANDER accounts I have sent in 3 x complaints - same stock answer comes back though, has anyone got any news about possible NS& I premium bond prize fund going down ? If it is, there is not many other places to keep savings secure.

How about a petition to send Carney back to Canada ?

Archi_Bald

1kevfp wrote: »

How about a petition to send Carney back to Canada ?

It's mainly xenophobia that got us that last interest rate cut. Not the fault of foreigners.

Nationwide8

The "merry" go down of interest rates will probably kick off more in a couple of weeks when all back from holidays,everything seems on hold at the moment ..
Haven't heard anything about the Premium Bond supposed 1.25% prize fund going down ? That was one the options I was looking at if any account starts earning less than 1.25,although of course PB wins not guaranteed there is always the chance of a bigger win.

Ballard

1kevfp wrote: »

As I have 3 x SATANDER accounts I have sent in 3 x complaints - same stock answer comes back though, has anyone got any news about possible NS& I premium bond prize fund going down ? If it is, there is not many other places to keep savings secure.

How about a petition to send Carney back to Canada ?

Out of curiosity, what is the basis of your complaint?

1kevfp

Based on their higher than "expected" cut in rates and their 150% rise earlier this year in their monthly account fee... is that not a justifiable cause to complain ?

xylophone

It's mainly xenophobia that got us that last interest rate cut. Not the fault of foreigners.

You're sure it's not the Dear Governor feeling sore at being censured for his pre Brexit remarks and so having his revenge on those who had the temerity to vote "Out"?;)

Ballard

1kevfp wrote: »

Based on their higher than "expected" cut in rates and their 150% rise earlier this year in their monthly account fee... is that not a justifiable cause to complain ?

Not really, no. They paid well over the odds for deposits for a few years and are now simply paying over the odds.

1kevfp

So they just used it as entrapment to get us all to buy a supermarket type loss leader ?

Having worked in the insurance industry for many years and seen what goes on behind closed doors ... I am never surprised at what the banking and finance industry does ,just lucky I took my own financial advice when it came to endowments, pensions and investments:j the only shares I hold now are ? Santander courtesy of the former Alliance Leicester ... :beer: