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

JustAnotherSaver

Ups and downs to everything.


Downside is losing out on one of the market leading RS accounts.


Up side is once my RS matures i have no reason to be with M&S any more so can rid myself of another account and their prehistoric online banking layout.

MDMD

JustAnotherSaver wrote: »

Ups and downs to everything.


Downside is losing out on one of the market leading RS accounts.


Up side is once my RS matures i have no reason to be with M&S any more so can rid myself of another account and their prehistoric online banking layout.

i never use it but another upside is being able to cut up that horrible looking debit card.

Joe9090

zagfles wrote: »

Igloo, 3%pa paid on credit balances. And supposedly protected if they go bust. Don't believe it's taxable either.

OVO start at 3% but go up to 5% https://www.ovoenergy.com/help/interest-reward

20SmthngSver

They have and make enought to provide both.

Fingerbobs

creditavenger wrote: »

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!!

I'm in the same boat, gradually struggling through the treacle that is the M&S application process.

I'll ask them if they'll honour the rate in force at the time of application, but my hopes aren't high.

Slightly off-cheesing, but not unexpected.

zagfles

Joe9090 wrote: »

OVO start at 3% but go up to 5% https://www.ovoenergy.com/help/interest-reward

Thanks - unfortunately they're £230 a year more expensive for energy for me, according to a comparison site.

JustAnotherSaver

MDMD wrote: »

i never use it but another upside is being able to cut up that horrible looking debit card.

It's not the best looking is it.


But then i don't actually use it aside from if i ever need the sort code & account number. It just stays in a 100 card wallet or however many it holds that i bought off eBay.


I've been toying with the idea of cutting my accounts down ever since i bought my house in 2013 as leading up to it i did anything to squeeze an extra penny out of a bank.
Still, i never go through with it as i'd be throwing money away, so when they pull the plug on good deals it sort of does a job for me.

Joe9090

zagfles wrote: »

Thanks - unfortunately they're £230 a year more expensive for energy for me, according to a comparison site.

You win some,you lose some,but even I can see it might not be in your best 'interests' to move to them!

DragonQ

Katiehound wrote: »

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

And yet we're only supposed to put 10% of assets into P2P. It's difficult even beating inflation these days, everyone's gonna start hoarding properties again, which is what got the housing market into the mess it's in right now. >_>

gjs1701

Darn. I applied to M&S specifically for this savings account. I might as well stick with my First Direct on now.

Mind you I applied to M&S three weeks ago and have never heard anything after the approval email.