The New Top Easy Access Savings Discussion Area

cwep2

mebu60 said:

CuparLad said:

BestSeagull said:

Just in case anyone else doesn't tend to read the individual subject threads (I don't usually) I saw on the Cynergy one that @SnowMan noticed that issue 90 has been returned to 4.45%     https://forums.moneysavingexpert.com/discussion/6535288/have-you-received-cynergys-notification-of-rate-reductions#latest

Thank you @BestSeagull for bringing this to our attention. I certainly hadn't spotted it.

I do wonder whether marketing folks keep an eye on these forums to get indications of customer sentiment, brewing issues etc. Over the years there's been a few incidents where something blows up on the forums and things quietly change. 

I expect it's more likely the volume of direct contact that alerts them to issues. 

I sent them a secure message on 1st Sep (as I said I would do on my post earlier on in this thread) pointing out that the rate had been cut without notification which was a breach of FCA rules and if it wasn't rectified I would be making a formal complaint to the FCA. I'm not taking credit, as I'm sure many people contacted them, but I do think it was people pointing it out or complaining that forced them to revert to the original rate, they didn't do it just because they were being nice.

mebu60

cwep2 said:

mebu60 said:

CuparLad said:

BestSeagull said:

Just in case anyone else doesn't tend to read the individual subject threads (I don't usually) I saw on the Cynergy one that @SnowMan noticed that issue 90 has been returned to 4.45%     https://forums.moneysavingexpert.com/discussion/6535288/have-you-received-cynergys-notification-of-rate-reductions#latest

Thank you @BestSeagull for bringing this to our attention. I certainly hadn't spotted it.

I do wonder whether marketing folks keep an eye on these forums to get indications of customer sentiment, brewing issues etc. Over the years there's been a few incidents where something blows up on the forums and things quietly change. 

I expect it's more likely the volume of direct contact that alerts them to issues. 

I sent them a secure message on 1st Sep (as I said I would do on my post earlier on in this thread) pointing out that the rate had been cut without notification which was a breach of FCA rules and if it wasn't rectified I would be making a formal complaint to the FCA. I'm not taking credit, as I'm sure many people contacted them, but I do think it was people pointing it out or complaining that forced them to revert to the original rate, they didn't do it just because they were being nice.

Myself and others on here were on their case via secure message three days earlier on Friday 29th. Today I finally got a response after four working days (supposed to reply in three) saying they have passed it on to the relevant department and will respond within five working days!! 

MichaelAP

crumpet_man said:

frosch411 said:

Just got this email from Snoop:

We’re lowering the interest rate on your Snoop Easy Access Savings Account (Issue 1).

Your old rate was 4.60% AER / 4.50% gross (variable)
Your new rate is 4.35% AER / 4.26% gross (variable)

Your rate will go down on Thursday 18 September.

Sadness..but it was always a question of time 😭 

4.35 is still a top rate for easy access though.  I've been using it for a bit and had no issues, just have to be aware of extra time may be required for deposit and withdrawals.

That and I like the account pays interest daily.

dosh37

Secure Trust Bank Access Account Iss 22 down to 4.2%.

janusd

dosh37 said:

Secure Trust Bank Access Account Iss 22 down to 4.2%

from 18th September (for those that can't view the images) - it's now NLA, replaced by Issue 23 paying 4.20%. @soulsaver

cloud_dog

Hoping people on this thread might be able to offer their thoughts / inputs regarding Family BS.

We have Issue 11 and Issue 9 accounts still paying 4.6% and 4.5% respectively, and they have implemented the rate reduction on their other EA accounts (possibly trackers) as of 1 September, but I was wondering what might be the timeline for them to apply to NLA accounts? 

janusd

cloud_dog said:

Hoping people on this thread might be able to offer their thoughts / inputs regarding Family BS.

We have Issue 11 and Issue 9 accounts still paying 4.6% and 4.5% respectively, and they have implemented the rate reduction on their other EA accounts (possibly trackers) as of 1 September, but I was wondering what might be the timeline for them to apply to NLA accounts? 

I had a similar thought (have Issues 10 & 9) and sent them a secure message towards the end of August about this, prior to making some large deposits...

Thank you for your secure message.

The Online Saver rates are not linked directly to the Bank of England base rate; the rates on these accounts are reviewed by our Board regularly, we have not been advised of any changes but you would be notified prior to any rate change.

as they have to give 14 days notice, there won't be a rate change now before the next BoE meeting on the 18th September (unless one comes in the next few hours lol). I would suspect there might be a reduction after that regardless of whether the base rate drops again, but who knows.

to be fair, they are good at sending email notifications on future rate changes.

cloud_dog

janusd said:

cloud_dog said:

Hoping people on this thread might be able to offer their thoughts / inputs regarding Family BS.

We have Issue 11 and Issue 9 accounts still paying 4.6% and 4.5% respectively, and they have implemented the rate reduction on their other EA accounts (possibly trackers) as of 1 September, but I was wondering what might be the timeline for them to apply to NLA accounts? 

I had a similar thought (have Issues 10 & 9) and sent them a secure message towards the end of August about this, prior to making some large deposits...

Thank you for your secure message.

The Online Saver rates are not linked directly to the Bank of England base rate; the rates on these accounts are reviewed by our Board regularly, we have not been advised of any changes but you would be notified prior to any rate change.

as they have to give 14 days notice, there won't be a rate change now before the next BoE meeting on the 18th September (unless one comes in the next few hours lol). I would suspect there might be a reduction after that regardless of whether the base rate drops again, but who knows.

to be fair, they are good at sending email notifications on future rate changes.

Thanks.  I'll wait with baited breath then 

soulsaver

Secure Trust Bank Access Account Iss 22 went NLA at 28/07 when at 4.45%. There is a rate reduction to 4.20% wef 18/09.

Iss 23 is available (04/09) at 4.20% - doesn't quite qualify for ToTP listing....... yet  

janusd

Cahoot Simple Saver (Issue 10) @ 4.55% (NLA) dropping to 4.40% on 2nd December.