M&S, HSBC and First Direct cutting interest on regular savings accounts to 5%

Former_MSE_Faye

Market-leading regular savers are cutting their headline rates for new customers - but you could still lock in at 6%...

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'M&S, HSBC and First Direct cutting interest on regular savings accounts to 5%'

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wakeupalarm

Initial thoughts, not as bad as feared!

chockydavid1983

Yep, could have been a lot worse!

karlie88

I'll take that.

veryintrigued

Are these three institutions related?

Others may speculate that its a little coincidental that three separate institutions announce reductions from 6 to 5% on the same day?!

karlie88

veryintrigued wrote: »

Are these three institutions related?

Others may speculate that its a little coincidental that three separate institutions announce reductions from 6 to 5% on the same day?!

Yes, they are.

https://en.wikipedia.org/wiki/HSBC_Bank_(Europe)#Other_UK_operations

veryintrigued

karlie88 wrote: »

Yes, they are.

https://en.wikipedia.org/wiki/HSBC_Bank_(Europe)#Other_UK_operations

Thank you - I didn't know M&S was part of a partnership of the HSBC group!

Gurberly

All things considered, that's not bad. As others have mentioned, it could have been a lot worse.


M

[Deleted User]

Agree, the drop could have been worse.

I wonder, though, what rates will be on offer when my 3 accounts end in Feb and April next year.

djpailo

Deleted_User wrote: »

Agree, the drop could have been worse.

I wonder, though, what rates will be on offer when my 3 accounts end in Feb and April next year.

This. I'm hoping it stays at 5% for a while!

Pincher

Started a 6% RS on 2nd September 2016 with First Direct.

Last of a Dying Breed, eh?

Was there a three year 6% Bond from Nationwide? Was Luke SkyWalker real? Did Jesus make good wine, or cheap Spanish plonk?