Reduction in Halifax Instant Saver interest rate, ideas?

dubb

Zanderman wrote: »

Don't get confused by talk of changing accounts or switching. Or by savings accounts linked to particular current accounts. Or by Regular savers as you implied you needed access and Reg savers don't always give that.

All you need to do is open a savings account with one of the banks that offer reasonable rates on easy access savers. Marcus is one of them. You don't need to leave Halifax. There's no hassle.

I mentioned a designated current account above - but that was to reassure, not to suggest you need to move banks. For Marcus the designated current account is the one you already have. In your case I assume you have one at Halifax.

It's all very very easy!!

Have a look: https://www.marcus.co.uk/uk/en

I appreciate your clarification, you'd be right in stating that my current account is Halifax. The Marcus account certainly does look appealing, a well laid out website, not a lot of jargon. I definitely need to move, I'm ashamed to not have considered moving sooner!

JennyJukes

Same for me, I'm with Bank of Scotland.
I set up a marcus account a few days ago, it was really simple.
I put my savings into a monthly saver and help to buy with BOS. My current account with BOS is also vantage so I get interest on my balance. Then the rest I have put into Marcus

Katiehound

ColdIron wrote: »

1.21% currently

Ha, I opened the new one a month ago and it is 1.16%!
Don't think I can be bothered to open yet another for an extra .05% !!

Rich2808

I received a letter yesterday from the Halifax informing me that the interest rate on an account I hold with them with a zero balance in it was being reduced from 0.2% to 0.1%!

The cost of producing and posting the letter probably exceeded the interest most people would earn on that account in a year if their balance was below £2k!

dubb

Exactly the same @rich2808, I'm moving to the Marcus this week.