HSBC H2B ISA rate cut

Ed-1

Just had an email through with a myriad of ISA rate cuts, including the below.

spenderdave

All of their ISA's are being cut. Their 'Loyalty' one goes down from 0.1% to a miserable 0.02% 0r 0.01% if I don't pay anything in this tax year which I don't intend to. Where else to put an ISA, don't think there is anywhere nowadays.

eskbanker

spenderdave said:

All of their ISA's are being cut. Their 'Loyalty' one goes down from 0.1% to a miserable 0.02% 0r 0.01% if I don't pay anything in this tax year which I don't intend to. Where else to put an ISA, don't think there is anywhere nowadays.

There's obviously not much of a market for the discontinued HTB product but in general there are loads of ISA providers and beating 0.01/0.02% isn't really a particularly challenging benchmark!

Rich2808

A pity for account holders - Halifax still accept transfers in and pay 1% (for now) on balances up to £12,000 (the maximum sum you get the 25% Govt bonus on when you buy a house) but only 0.05% on balances above £12,000.

I recollect from here a lot of people moved their Nationwide HTB isas to HSBC when NW cut their rate to 1% which is unchanged. And unlike Halifax and HSBC still pay 1% on balances above £12,000.

orange-juice

Recently posted the paperwork to request a transfer, after my previous transfer failed🙄. Hopefully I can personally cancel this new one!