Club Lloyds and BOS dropping rates to 1.5% on 1st July

quinquereme

Just noticed this on Lloyds website:
Please note: From the 1st July 2018, we will be changing the interest you can earn on Club Lloyds current accounts. The current interest rate of 2% AER/1.98% Gross variable, payable on balances between £1 and £5,000, will reduce to 1.5% AER/1.49% Gross variable. You will still need to pay at least two different Direct Debits each calendar month to earn interest.

Checked BoS and same with Vantage:
Please note: From the 1st July 2018, we will be changing the interest you can earn on Vantage accounts. The current interest rate of 2% AER/1.98% Gross variable, payable on balances between £1 and £5,000, will reduce to 1.5% AER/1.49% Gross variable. To earn interest, you will still need to pay at least two different Direct Debits each calendar month, pay at least £1,000 into your account during the calendar month, and stay in credit (above £0) during the monthly billing period.

(Can't post links as a newbie.). Sad times.

Herbalus

Looks true sadly. Its quite prominent on here. Top of page.

https://www.lloydsbank.com/current-accounts.asp?WT.ac=Products/Navigation/CurrentAccounts

veryintrigued

B.ugger

https://www.bankofscotland.co.uk/bankaccounts/vantage/

ffacoffipawb

Only worth keeping for the free cinema tickets really.

YorkshireBoy

Looks like some changes to packaged accounts too, with £2 per month increases along with a cut in some benefits.

This has also been applied on Halifax Ultimate Reward which now costs £17 per month.

Can't see anything about a cut in the Reward payment at Halifax.

Herbalus

Can Halifax reward go any lower?

EachPenny

veryintrigued wrote: »

B.ugger

Double B.ugger.... just as rearranged DD's thanks to Tesco were about to kick in.

ffacoffipawb

YorkshireBoy wrote: »

Looks like some changes to packaged accounts too, with £2 per month increases along with a cut in some benefits.

This has also been applied on Halifax Ultimate Reward which now costs £17 per month.

Can't see anything about a cut in the Reward payment at Halifax.

That was cut from £5 to £3 a few months ago, cant really cut it any further.

Got my last 3 x £3 rewards this month, unable to replace the tesco direct debits and not worth transferring some real bills across as they earn a decent cashback with Child & Co Reward Account via RBS.

YorkshireBoy

veryintrigued wrote: »

B.ugger

My thoughts too!

I could put the £20K in my PO Online Saver (or Tesco for the same 1.30% rate...for the remainder of the bonus year) and only be the equivalent of £38 a year worse off. Maybe it's time to call it a day on these two providers. I haven't even been to the flix this lifestyle year either...and it's nearly up!

ffacoffipawb

YorkshireBoy wrote: »

My thoughts too!

I could put the £20K in my PO Online Saver (or Tesco for the same 1.30% rate...for the remainder of the bonus year) and only be the equivalent of £38 a year worse off. Maybe it's time to call it a day on these two providers. I haven't even been to the flix this lifestyle year either...and it's nearly up!

Mine are going into Premium Bonds. Nice and simple with everything in one account. Always the slim chance of a nice win. Only about 10% of my cash is in taxable accounts, will be close to zero after this. No cash ISA, just a S&S ISA.

YorkshireBoy

Herbalus wrote: »

Can Halifax reward go any lower?

£1 was out of the question...may as well have withdrawn the account. Could have gone to £2 I suppose.