The New Top Easy Access Savings Discussion Area

Sherbertfizz

Ruger22 said:

Ulster Bank dropped their EA Loyalty Saver rate from 4.75% to 4.5% on balances above £5,000 yesterday.

I took out a Loyalty Saver recently when the rate was 5% (knowing that the rate would drop to 4.75% on 19 Feb).  According to the Ts & Cs, Ulster say that they will give at least 60 days notice of a rate change if it is to the disadvantage of the account holder.  I've had no notice.  Online chat with an adviser is getting me nowhere.  I'll try to call them tomorrow to clarify, but has anybody else had this issue.  Am I missing something?  To be clear, the rate is showing on my account as 4.5%.

Bridlington1

@soulsaver
Monument Bank Limited Access Saver `tri' 4.71% £25k min

allegro120

Sherbertfizz said:

Ruger22 said:

Ulster Bank dropped their EA Loyalty Saver rate from 4.75% to 4.5% on balances above £5,000 yesterday.

I took out a Loyalty Saver recently when the rate was 5% (knowing that the rate would drop to 4.75% on 19 Feb).  According to the Ts & Cs, Ulster say that they will give at least 60 days notice of a rate change if it is to the disadvantage of the account holder.  I've had no notice.  Online chat with an adviser is getting me nowhere.  I'll try to call them tomorrow to clarify, but has anybody else had this issue.  Am I missing something?  To be clear, the rate is showing on my account as 4.5%.

I've received notification by e-mail on 15 Nov 2024. That's more than 60 days.  Previous reductions were announced on time too. 

dcs34

Sherbertfizz said:

Ruger22 said:

Ulster Bank dropped their EA Loyalty Saver rate from 4.75% to 4.5% on balances above £5,000 yesterday.

I took out a Loyalty Saver recently when the rate was 5% (knowing that the rate would drop to 4.75% on 19 Feb).  According to the Ts & Cs, Ulster say that they will give at least 60 days notice of a rate change if it is to the disadvantage of the account holder.  I've had no notice.  Online chat with an adviser is getting me nowhere.  I'll try to call them tomorrow to clarify, but has anybody else had this issue.  Am I missing something?  To be clear, the rate is showing on my account as 4.5%.

If you applied after they announced the reduction (which your post implies is the timeline here), then it was displayed on their website at the time that the rate would be dropping on that date. They would not need to give you notice as you were not an existing customer when they announced the changes, and (given you already knew about it) I'm sure they would say you applied for the account in good faith that the interest rate was going to be reduced.

janusdesign

Sherbertfizz said:

Ruger22 said:

Ulster Bank dropped their EA Loyalty Saver rate from 4.75% to 4.5% on balances above £5,000 yesterday.

I took out a Loyalty Saver recently when the rate was 5% (knowing that the rate would drop to 4.75% on 19 Feb).  According to the Ts & Cs, Ulster say that they will give at least 60 days notice of a rate change if it is to the disadvantage of the account holder.  I've had no notice.  Online chat with an adviser is getting me nowhere.  I'll try to call them tomorrow to clarify, but has anybody else had this issue.  Am I missing something?  To be clear, the rate is showing on my account as 4.5%.

was it ever 5% ?

• I received an email on 8th August 2024, telling me the rate was dropping from 5.20% to 4.75% for £5k+ (2.25% to 2.00% < £5k) on 14th October 2024.
• I received an email on 19th November 2024, telling me the rate was dropping from 4.75% to 4.50% for £5k+ (2.00% to 1.75% < £5k) on 20th January 2025 (yesterday).

if memory serves, at least one of the above emails was marked as spam by mail server - but I pulled it out of quarantine... the rate change was definitely mentioned in this thread and was on the Ulster website.

I know the Chase saver drops from 3.50% to 3.25% on 19th February 2025, so perhaps you're getting confused with that?

jsrose

Hi so I’m about to receive about £80k - Im thinking of putting it in a Chase Saver account til I decide what to do?  Any better advice please 

tonypyorkshire

If you're a new customer then that's not a bad idea, you'll get 5% for 6 months, then 3.25% after.

If you're an existing chase customer beware the rate will be going down from 3.5% to 3.25% on 19th Feb

jsrose

New customer 👌

pecunianonolet

Chip has introduced now a Wealth Score in their app with more meaningless numbers and no option to hide or better switch it off. Occupies more space and is just more clutter. I probably wait until 6th April, transfer my ISA funds out and ditch them. 

flaneurs_lobster

pecunianonolet said:

Chip has introduced now a Wealth Score in their app with more meaningless numbers and no option to hide or better switch it off. Occupies more space and is just more clutter. I probably wait until 6th April, transfer my ISA funds out and ditch them. 

Should start a new thread so's we can all post our WealthScore (tm) and check if mine is bigger than yours.

Mine's 304. No, I've no idea what it means or how it's "calculated" and I have no wish to find out.

ETA - just had an email from Chip re this - some glorious marketing bollox in there that I won't quote in case anyone is eating.