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The New Top Easy Access Savings Discussion Area
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The notice period varies between providers - it should say in the ts and cs. Also can depend on your balance - I believe if less than £100, the FCA does not require notification of rate changesdosh37 said:SnowMan said:The no longer available West Brom 4 access saver (issue 1) and no longer available West Brom 4 access saver (issue 2) are reducing from 4.65% AER to 4.4% AER on 15th September(click on 'Variable interest rates for accounts not available to open')This aligns them from 15th September with the currently available West Brom 4 access saver (issue 3) which reduces to 4.4% AER from 4.55% AER also on 15th September.Interesting.I have a Four Access Saver Iss 2.My understanding is that banks etc have a legal obligation to notify customers of any reduction in interest rates.I have not yet received an email from them.If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
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dosh37 said:SnowMan said:The no longer available West Brom 4 access saver (issue 1) and no longer available West Brom 4 access saver (issue 2) are reducing from 4.65% AER to 4.4% AER on 15th September(click on 'Variable interest rates for accounts not available to open')This aligns them from 15th September with the currently available West Brom 4 access saver (issue 3) which reduces to 4.4% AER from 4.55% AER also on 15th September.Interesting.I have a Four Access Saver Iss 2.My understanding is that banks etc have a legal obligation to notify customers of any reduction in interest rates.I have not yet received an email from them.Their requirement is to give 14 days notice of an interest rate decrease by email or letter if you have over £100 in the account (it's in the product specific terms and conditions which refers to the general terms sections 5d and 5e).So they've got until about 1st September to send out the notifications. I've also not received a notification yet.I came, I saw, I melted0
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Only if you have £100.00+ I believedosh37 said:SnowMan said:The no longer available West Brom 4 access saver (issue 1) and no longer available West Brom 4 access saver (issue 2) are reducing from 4.65% AER to 4.4% AER on 15th September(click on 'Variable interest rates for accounts not available to open')This aligns them from 15th September with the currently available West Brom 4 access saver (issue 3) which reduces to 4.4% AER from 4.55% AER also on 15th September.Interesting.I have a Four Access Saver Iss 2.My understanding is that banks etc have a legal obligation to notify customers of any reduction in interest rates.I have not yet received an email from them.2 -
Email from Newcastle BS - 6 month variable issues 1 and 2 reduced from 4.40% to 4.15% wef 4/9/251
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