Sainsburys never ending Defined Access Saver accounts

Reed_Richards

I had to keep moving money from one Sainsburys account to the next but never completely closed the old accounts, they just each have a few pounds in.  So every time Sainsburys decide to make a small change in their paltry interest rates I get five or six letters informing me of this, one for each account.  They're wasting a lot of money on all these letters.   

subjecttocontract

When banks offer non competitive rates I automatically assume that they don't want my money, so I don't deposit any.

mebu60

Reed_Richards said:

I had to keep moving money from one Sainsburys account to the next but never completely closed the old accounts, they just each have a few pounds in.  So every time Sainsburys decide to make a small change in their paltry interest rates I get five or six letters informing me of this, one for each account.  They're wasting a lot of money on all these letters.   

One secure message requesting closure of all the previous accounts with capital and interest transferred to the latest issue would tidy things up. Then use one of your withdrawals to move all but £1 elsewhere. Sainsbury's do like to generate a lot of paper! You'll get a closure letter for each account too.