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

MarkFromCornwall

Sea_Shell wrote: »

Well that's pants news for a Saturday morning.

Yes: strange that none of the rolling news channels are leading on the Lloyds story today.

surreysaver

AndyPK wrote: »

Tesco and BOS must be having a right laugh at us!

It does make me wonder if there's been some sort of collusion behind closed doors to make it more difficult and less attractive for people to play the system, whilst still trying to attract genuine customers. They'll probably start to offer £500 switching bonuses now, after all us serial switchers have no more accounts to switch to!

oldagetraveller

It is my main current account and I keep the balance at £5000 for the maximum interest.
However, come July, I will just be maintaining a balance sufficient to cover Direct Debits and everyday bills etc..
I suppose it couldn't last forever.
Their loss, another's gain.

timmy963

This makes me feel a bit better seeing as the Tesco Bank are cancelling DD payments into their saver accounts which were used to fuel the DD requirement of these BOS accounts.

I bet Santander will change their interest to 1.23% or something silly.

18cc

Very annoying - however I suppose I am still getting my monthly magazine which is worth something so won't leave just yet.

kidmugsy

timmy963 wrote: »

I bet Santander will change their interest to 1.23% or something silly.

Brilliant suggestion.

AndyPK

I'm fine with 1.5 thank you !!

surreysaver

I'll have to dust off my standing order to my NatWest Savings Builder. Although it only needs £50pm now

Sea_Shell

We'll probably just withdraw the £15k we've got with these, and put it in our S&S ISA's. We're probably too cash heavy anyway. Surely that'll return more than 1.5% (fingers crossed)

Badger50

Seems quite odd that they could sustain their old rates when the Bank Rate was as low as 0.25% and are reducing their rates just when the Bank Rate might well have gone up to 0.75%..