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FCA proposes single easy access rate (SEAR) per institution
eskbanker
Posts: 38,144 Forumite
The FCA have today proposed the introduction of a common easy access interest rate per institution and account type (ISA v taxable):
https://www.fca.org.uk/news/press-releases/fca-acts-help-customers-get-better-rates-cash-savings
The cynic would observe that this will probably benefit the lazy, to the detriment of the average MSE rate tart, if the rates available to the former will effectively be subsidised by worse new offers....
Edit: beaten to the punch by SnowMan while typing this but don't seem to be able to delete this!
https://www.fca.org.uk/news/press-releases/fca-acts-help-customers-get-better-rates-cash-savings
The cynic would observe that this will probably benefit the lazy, to the detriment of the average MSE rate tart, if the rates available to the former will effectively be subsidised by worse new offers....
Edit: beaten to the punch by SnowMan while typing this but don't seem to be able to delete this!
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Comments
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Don't worry, I am sure MSE will have a news story on this and create a third thread :rotfl:
(edit: bizarrely there is a MSE created thread on the 'boost your income' section of the forum. The MSE news story is here)I came, I saw, I melted0 -
The FCA have today proposed the introduction of a common easy access interest rate per institution and account type (ISA v taxable):
https://www.fca.org.uk/news/press-releases/fca-acts-help-customers-get-better-rates-cash-savings
The cynic would observe that this will probably benefit the lazy, to the detriment of the average MSE rate tart, if the rates available to the former will effectively be subsidised by worse new offers....
Edit: beaten to the punch by SnowMan while typing this but don't seem to be able to delete this!
Oi
Who are you calling 'the average MSE rate tart'?
Most of us are well above average:D0
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