First direct reduction in interest rates including regular saver

MrsWenger

youngretired wrote: »

As IanSt has said HSBC have already reduced theirs to 2.75% for all customers, so once our 5% regular savers mature then we might as well downgrade the account to a normal current account.

I haven’t looked at the HSBC website but I received an email from them last weekend which described a number of saving account rate reductions. I was surprised the Regular Saver wasn’t on it.

Much to consider and decide upon now FD reduced as well and Nationwide withdrawn altogether...

YorkshireBoy

Prenticebaines wrote: »

I get the £50 welcome bonus for the current account but cant see any cash bonus for the savers account now. Going to open up with M&S and se if I can salvage the 5%

I assume that's in response to my post? The extra £100 is from the current account side of the business, not the savings side, and is detailed on their website.

irvin38aa

I’ve just opened a regular saver with HSBC. It opened 28th September. Now, I’ve looked everywhere but can’t find the answer so can somebody here help?

Max I can put in is £250/mth. Does this mean a calendar month ie I can put another £250 in now and another in November etc OR does it mean 28th - 28th? ie my next payment would have to be after 28th October then after 28th November etc.

Thanks!

Zanderman

Hmmm... maybe this is the end of my First Direct account. I'm between Reg Savers - was going to set up new this month. Won't bother now.

I was wondering what account to sacrifice for a switch to Lloyds for their Club Lloyds offer - I think I've just found the victim.

(and FD's website was, and is, so annoyingly clunky)

Lomcevak

My last FD regular saver matured on Tuesday 1st October and I called to renew it - was told I could do it over the phone but it would take 10 minutes, or I could do it online. No mention of rate drop when I called.

To save time on the phone I opened it online the next day (had to wait for the previous one to close) so think I've probably made the cut, but will be pretty annoyed if I haven't. Would have spent the ten minutes on the phone listening to them read out terms otherwise!

Smith_loopher

for their interest and charges PDF, Yes and scroll down to.

Shedman

Had the email regarding the HSBC interest rate drops and looking on my account found out that the Reg Saver was dropping to 2.75%, but dont recall either the wife or me receiving any notification from FD regarding these changes so not impressed by that. M&S still showing 5% but no doubt that will drop as well by time our current ones mature in January.

I suppose the new FD & HSBC rates aren't too bad compared to some of the RS rates on the other banks now where they still exist (eg Lloyds) but, whereas it used to be a bit of a hobby chasing the good rates and incentives, it's all getting too much of faff now. Still, upside is that it makes culling the accounts back to a more manageable number somewhat easier.

binaryuniverse

This was inevitable, once most of the competition had dropped theirs. Luckily, I renewed my FD saver a few months ago.

Looks like M&S will be my donor account for LLoyds then.

AlanP_2

Lomcevak wrote: »

My last FD regular saver matured on Tuesday 1st October and I called to renew it - was told I could do it over the phone but it would take 10 minutes, or I could do it online. No mention of rate drop when I called.

To save time on the phone I opened it online the next day (had to wait for the previous one to close) so think I've probably made the cut, but will be pretty annoyed if I haven't. Would have spent the ten minutes on the phone listening to them read out terms otherwise!

My wife did it over the phone on Tuesday evening - more like 30 minutes than 10.

Fingerbobs

Shedman wrote: »

Had the email regarding the HSBC interest rate drops and looking on my account found out that the Reg Saver was dropping to 2.75%, but dont recall either the wife or me receiving any notification from FD regarding these changes so not impressed by that.

Isn't the rate fixed for the term, until maturity? If so, nothing is changing for existing RS accounts so I don't see why they need to tell you anything?