Co-Op renaming savings account and backdating reduction in rate with no notification

Money_Grabber13579

General_Grant said:

But any conversion of my current account was within the last week.  They told me they were paying the 1.81% to me with effect from September!  And it wasn't converting the current account to a Standard current account but a packaged one.

Are you sure there isn’t a miscommunication somewhere? The document posted earlier would suggest that co-op changed their rates at the start of September and so are they perhaps saying that your account is now a normal savings account which attracts a rate of 1.81%, which is the rate applying to that account from that date but have then failed to clarify that because your account only changed to that from the end of November, you’ll get paid that rate from the end of November? I’d be surprised if they were giving you the lower rate for a time when you still qualified for the higher rate account.

General_Grant

Money_Grabber13579 said:

General_Grant said:

But any conversion of my current account was within the last week.  They told me they were paying the 1.81% to me with effect from September!  And it wasn't converting the current account to a Standard current account but a packaged one.

Are you sure there isn’t a miscommunication somewhere? The document posted earlier would suggest that co-op changed their rates at the start of September and so are they perhaps saying that your account is now a normal savings account which attracts a rate of 1.81%, which is the rate applying to that account from that date but have then failed to clarify that because your account only changed to that from the end of November, you’ll get paid that rate from the end of November? I’d be surprised if they were giving you the lower rate for a time when you still qualified for the higher rate account.

I certainly hope that the words the member of staff wrote do not mean what they say.