HSBC current account customer? You can now get 3% ‘easy-access’ on your savings

Joe9090

I see it now pays 4% but why didn't they inform me? 

In fact, if I look at my account it still shows the standard rate of 1.35% with no mention of the upped bonus rate! 

wiseonesomeofthetime

Joe9090 said:

I see it now pays 4% but why didn't they inform me? 

In fact, if I look at my account it still shows the standard rate of 1.35% with no mention of the upped bonus rate! 

It was promoted first week in June, but after the 1st.

Went up on 8 June 2023. Many had emptied there's on the 1st June, so were not impresssed.

Have you made a withdrawal in June?

Joe9090

Yes, I took everything out on 2nd June but I only found out over the weekend via Moneyfacts that the rate had gone up. 

wiseonesomeofthetime

Yeah, so your rate for June will be 1.35%, reverting to 4% on 1 July.

Joe9090

Thanks for that info.

From this forum I knew about the strange interest details and that is why I took the lot out at the start of the month to get higher easy interest with other accounts.

I looked on the forum but could not find any discussion about the new rate. Did I miss it?

ranciduk

Yes 

yes you did!

RG2015

Joe9090 said:

Thanks for that info.

From this forum I knew about the strange interest details and that is why I took the lot out at the start of the month to get higher easy interest with other accounts.

I looked on the forum but could not find any discussion about the new rate. Did I miss it?

Here is the post, but it was on 2nd June so it came too late for many.

https://forums.moneysavingexpert.com/discussion/comment/80087617#Comment_80087617

I believe that HSBC only announced it on 2nd June, so after many withdrew all of their funds on 1st June.

Swipe

RG2015 said:

Joe9090 said:

Thanks for that info.

From this forum I knew about the strange interest details and that is why I took the lot out at the start of the month to get higher easy interest with other accounts.

I looked on the forum but could not find any discussion about the new rate. Did I miss it?

I believe that HSBC only announced it on 2nd June, so after many withdrew all of their funds on 1st June.

Sneaky

Joe9090

I have now found the HSBC announcement https://www.about.hsbc.co.uk/news-and-media/hsbc-uk-confirms-savings-rate-increases which I suppose negates their need to tell current account holders individually.

ranciduk

The big high street Banks don’t contact their customers as a rule to inform of rate increases, do they?

Decreases , maybe…