M & S Bank have cut their 5% regular savings rate

creditavenger

Sad news indeed, but not unexpected.

Probably explains why I had to wait for over 10 working days for a switch slot, and why no response was made (so far) to an on-line application for a regular saver made at 07:00 on the 13th Nov.

I wonder if they'll honour the rate in force at the time of application? ...or at least now process it!!

[Deleted User]

Following suit of HSBC and First Direct then

Willing2Learn

Yup, the rates are getting lower and lower right across the entire banking sector...

Ben8282

Willing2Learn wrote: »

Yup, the rates are getting lower and lower right across the entire banking sector...

Well yes. They have to finance all the switch incentives.

Katiehound

oh ho, Nationwide gone altogether, now M&S and HSBC reduced..... these 2 have yet to mature.Sadly not unexpected news

Yorkshire_Pud

Reduced to 2.75%:)

stehouk

i'm not going to be renewing at 2.75% on any of them, not worth the effort.

Joe9090

Another thread on it here https://forums.moneysavingexpert.com/discussion/6070875/another-blow-for-savers-as-m-s-bank-cuts-its-5-rate-are-regular-savings-still-worth-it-mse-news .........although you will need to look at post 5 for the leader article.

Milarky

Coincidentally I contacted them this week about my current eligibilty as I was really thinking about it this time! I could have opened one again (after maturity) back in January but put it off, and put it off and (now) that decision has been made for me it would appear.

bhjm

stehouk wrote: »

i'm not going to be renewing at 2.75% on any of them, not worth the effort.

where do you put your money for saving then?

stehouk

bhjm wrote: »

where do you put your money for saving then?

I will probably pay more into my sipp and marcus, running out of options now.:(