MSE News: Urgent! Are you a saver? Watch Martin Lewis' warning video before midnight

Qyburn

MSE_Helen_K said:

You must act NOW to get the top-paying rate on an easy-access savings account, MoneySavingExpert founder Martin Lewis has urged. Santander's best buy account offers 5.2% interest, but it will be axed to new customers after 11.59pm tonight. Martin explains everything you need to know in his latest video...

I have a personal dislike for the fad for communication solely by video. In this case that's a simple statement that I've put in bold. Why would anyone need to watch a video to see it repeated? 

BooJewels

I didn't even understand why it warranted the words 'urgent', 'warning' and even being a news item.  Especially as it was posted a good while after regular posters had already made the same point.

Katiehound

BooJewels said:

I didn't even understand why it warranted the words 'urgent', 'warning' and even being a news item.  Especially as it was posted a good while after regular posters had already made the same point.

Well for some of us it was 'Urgent'.

 I had been away the previous week with no internet access.
 I opted out of all marketing communications from Santander.
 I hadn't seen anything about the account until I noticed a 'flyer' on the forum website and 'urgently' opened the account about 9pm! just 3 hours before the deadline. I did not purposely leave it until the last minute..........

BooJewels

Katiehound said:

BooJewels said:

I didn't even understand why it warranted the words 'urgent', 'warning' and even being a news item.  Especially as it was posted a good while after regular posters had already made the same point.

Well for some of us it was 'Urgent'.

 I had been away the previous week with no internet access.
 I opted out of all marketing communications from Santander.
 I hadn't seen anything about the account until I noticed a 'flyer' on the forum website and 'urgently' opened the account about 9pm! just 3 hours before the deadline. I did not purposely leave it until the last minute..........

Well, for you that clearly worked.  I suppose my point was that this is just one of hundreds of savings products available and they variously become available, rates increase or are withdrawn and go off sale on a daily basis, I just didn't get why this one was especially singled out as 'special'.

Katiehound

No idea why this one in particular- perhaps because it is easy access? Anyway perfect moment as I had a matured RS & some money in Tesco saver earning less peanuts so made me act swiftly!

Bazzalona13295

callum9999 said:

Bazzalona13295 said:

refluxer said:

stoneman said:

I set mine up last week but it was 5.02% then. Will I get grandfathered in to the higher rate?

If that is actually 5.08%, then that'll be the gross monthly interest option (as mentioned above) which equates to 5.20% AER when allowed to compound (you get 'interest on the interest') over 12 months.

I had to Google 'grandfathered', BTW - never heard that expression in this context before !

I heard this term for the very first time over the weekend whilst watching American car racing.
Had no idea either!

FYI to both of you, the word wasn't used in the correct context.

If something is "grandfathered" then you continue receiving benefits/following rules etc that aren't accessible to new users.

You can't be "grandfathered" into something new or better - the whole point is that whatever you have remains the same.

FYI I already knew, just wasn't anal/pedantic enough to point it out 🙄
Jesus.....

callum9999

Bazzalona13295 said:

callum9999 said:

Bazzalona13295 said:

refluxer said:

stoneman said:

I set mine up last week but it was 5.02% then. Will I get grandfathered in to the higher rate?

If that is actually 5.08%, then that'll be the gross monthly interest option (as mentioned above) which equates to 5.20% AER when allowed to compound (you get 'interest on the interest') over 12 months.

I had to Google 'grandfathered', BTW - never heard that expression in this context before !

I heard this term for the very first time over the weekend whilst watching American car racing.
Had no idea either!

FYI to both of you, the word wasn't used in the correct context.

If something is "grandfathered" then you continue receiving benefits/following rules etc that aren't accessible to new users.

You can't be "grandfathered" into something new or better - the whole point is that whatever you have remains the same.

FYI I already knew, just wasn't anal/pedantic enough to point it out 🙄
Jesus.....

Do you also need the definition for the word pedantic? Telling someone that the definition of a word is actually the opposite to what they think it is isn't "pedantic"... It's bizarre to call it "anal" too, though at least I can give you that as it's subjective...

I also fail to see how you can be so self-righteous when you only discovered this word usage existed a few days ago and had "no idea" what it meant. How on Earth am I meant to know that you do know the correct definition? Jesus indeed.

Bridlington1

Katiehound said:

No idea why this one in particular- perhaps because it is easy access? Anyway perfect moment as I had a matured RS & some money in Tesco saver earning less peanuts so made me act swiftly!

I suspect it was largely down to the fact that it was a major high street bank offering a top EA rate. I imagine a lot of people would be happy to grab a 5.2% EA account with Santander yet if the same account was being offered by a lesser known bank/building society, say Beverley BS, a lot less people would want the account since Santander are far more well known than Beverley BS are and I've found most of the people I know don't feel comfortable banking with a bank they've never used before. Plus unlike many of the top EA accounts this account can be managed in branch, which is still an appeal to those who don't trust or want to use online/mobile banking.