NS&I to cut premium bond rate and other accounts

eskbanker

RG2015 said:

This is really getting a bit tedious. Isn’t there an MSE guideline that discourages this sort of continual thread digression?

Yes, https://www.moneysavingexpert.com/site/forum-faqs/ states

What's wrong with going off-topic?

The purpose of this site is to help people save money. So we'd prefer people to keep MoneySaving discussions on the main boards on topic. Taking them off-topic can be confusing for new users, while in discussions linked to from the weekly email, guides, news stories and blogs, it makes it especially difficult for people to find the information they want.

If you've been asked to keep a thread on track but this hasn't happened, off-topic posts may be removed. We encourage community, but not thread derailment.

thegentleway

talexuser said:

"having an NS&I account does make you wealthy by world standards"

So what? totally off topic for this thread, and the same facile point about having some money could be made in virtually every thread on the entire forum discussing financial matters in this country. 

Well I was responding to someone who claimed having an NS&I didn’t make them wealthy by any standards, so I corrected them. Then some people started arguing so I was just being polite and replying. Sorry! 

thegentleway

RG2015 said:

thegentleway said:

kinger101 said:

thegentleway said:

kinger101 said:

thegentleway said:

nbrewitt said:

Sailtheworld said:

It's about time. Not sure why the taxpayer was expected to be providing market leading interest rates to the already wealthy.

Irresponsible comment, not all NS&I savers would class themselves as wealthy by any means 

Sorry but I think you are grossly underestimating what is means to be weathly by world standards. Please note that

Nearly Half the World Lives on Less than $5.50 a Day

This value is adjusted to reflects standards in upper-middle-income countries. So yeah, if you are an NS&I saver then you are very wealthy.
Check out: https://howrichami.givingwhatwecan.org/how-rich-am-i if you want to find out how rich you are compared to the rest of the world.

Erm.......
(1) you can have £1 in an NS&I saver account.  

(2) median household income is about USD 10,000.  Hard to square that with USD 5.50 a day
https://news.gallup.com/poll/166211/worldwide-median-household-income-000.aspx

(3) income is relative to where you live.  

(1) 39% of the population don’t even have a bank account let alone a savings account.
(2) you’re confusing individuals and households.

(3) that’s why the figure I posted is adjusted from $3.20

(1) That doesn't mean having an NS&I account makes you wealthy.
(2) I'm not. I clearly stated medium household income.   I know that's not per person.  
(3) I don't care how you've adjusted it.  You're clearly missing something obvious if you think someone living in the UK is wealthy if they live on the equivalent $5.50 or $3.20 a day.  

kinger101
Surely you must be trolling... But I'll give you the benefit of doubt

This is really getting a bit tedious. Isn’t there an MSE guideline that discourages this sort of continual thread digression?

Sorry I was just responding to comments. I wasn’t trying to derail the thread, just clear up some very misinformed posts. I can see that’s annoying for other users so apologies, I won’t respond any more.

coachman12

I don't see any "going off thread" and I think gentleway's comments add to the debate.
And I am also glad to see the post by Apodemus being followed up by similar posts which illustrate that not all members of MSE are like frantic worker ants as they rush in their thousands to transfer money out of NS&I ( who they have been starting scores of threads about in recent weeks/months to help them settle in to NS&I). But I do think you are wrong Apodemus to say that most folk don't even know what their rate of interest is and care even less-----that is incorrect; though I agree with most of what else you say. 
The beauty of NS&I is safety and protection of that part of your total worth that is not at risk from your shares portfolio , property value risks, and all the other risks that are connected to money.
As I said in an earlier post on this thread, tho I've not revisited it again now ( so don't bite my head off if I misquote the overall meaning) : I will, as I have always done for many years, leave the vast majority of my savings in NS&I because I have to. But, just like every other sensible saver, I will be looking at other more "interest-attractive" options up to £85,000 FSCS protection level during the next two months before NS&I make their draconian cuts----and I'm pretty sure I may well open a number of new accounts. But I am not whirling round like a dervish because I do not mind the NS&I move too much and because one of NS&I's advantages is that it always gives 2 months notice and everyone has plenty of time to look around nearer the cut off date when all the present good-looking offers will have gone.
This is an interesting thread, especially given the large number of NS&I threads in recent months which can now mercifully "dry up" and NS&I can go back to its default position of anonymity.

eskbanker

coachman12 said:

This is an interesting thread, especially given the large number of NS&I threads in recent months which can now mercifully "dry up" and NS&I can go back to its default position of anonymity.

That well-hidden secret known only to its 25 million customers?

coachman12

eskbanker said:

coachman12 said:

This is an interesting thread, especially given the large number of NS&I threads in recent months which can now mercifully "dry up" and NS&I can go back to its default position of anonymity.

That well-hidden secret known only to its 25 million customers?

Perhaps, for any nit-pickers rarely on site, "anonymity as regards MSE members" might have been a more appropriate phrase, given the hundreds of threads in recent months about what sort of Building Society is NS&I, how do I pay my money in, how do I get it out, how many branches have they got , are they part of the Co-op, why are they so slow, when does my interest start, are they really a Bank ( and, yes, NS&I are still Britain's National Savings Bank !). 
Always a pleasure to hear from you and to see the way you carefully pick out tiny pieces of members' informative, chatty and valid posts in order to get in your normal "style" of reply. Thank you.

eskbanker

coachman12 said:

eskbanker said:

coachman12 said:

This is an interesting thread, especially given the large number of NS&I threads in recent months which can now mercifully "dry up" and NS&I can go back to its default position of anonymity.

That well-hidden secret known only to its 25 million customers?

Perhaps, for any nit-pickers rarely on site, "anonymity as regards MSE members" might have been a more appropriate phrase, given the hundreds of threads in recent months about what sort of Building Society is NS&I, how do I pay my money in, how do I get it out, how many branches have they got , are they part of the Co-op, why are they so slow, when does my interest start, are they really a Bank ( and, yes, NS&I are still Britain's National Savings Bank !). 
Always a pleasure to hear from you and to see the way you carefully pick out tiny pieces of members' informative, chatty and valid posts in order to get in your normal "style" of reply. Thank you.

Can't say I always feel any need to go through annotating long posts in their entirety, especially when they're definitely at the chatty end rather than the informative, so don't see any problem with commenting on one specific aspect, without any attempt to paint it as representative of the whole thing.

There's no doubt that NS&I's temporary position atop the easy access rankings led to more traffic about them on here than usual but I'm unconvinced that in itself that was justification for all the tiresome I-was-into-them-when-they-were-cool competitive teenager style posts....

eskbanker

RG2015 said:

coachman12 said:

eskbanker said:

Can't say I always feel any need to go through annotating long posts in their entirety,

You old fibber----you know full well that it is exactly what you always do; and everybody knows it.

Disgraceful.

There is no justification for language like this.

Don't rise to the bait!  That particular exchange was already getting dangerously close to another off-topic diversion, so no point in continuing it....

Thrugelmir

Latest 30 year gilt issue was auctioned off at 0.77%. The Treasury has no need for retail funds it seems. 

bundoran

When I saw that the rate on Income Bonds was being cut from 1.15% to 0.01% I couldn't believe my eyes and thought it must be a typo. 😬