The New Top Easy Access Savings Discussion Area

flobbalobbalob

https://forums.moneysavingexpert.com/discussion/comment/82098217#Comment_82098217

Because they have loyal customers who stick with 1.00% AER offered under the NatWest brand and don't want to pay them 4.50% AER

x44

Same reason why have savings groups with endless issues of accounts. So that they can bring out a new issue at an attractive higher interest rate, downgrade the old issue to a lower rate, all safe in the knowledge that not many will spot what is going on. Only the relatively few savvy savers will immediatly swap to the new issue while most will langusih in the lower paying earlier issue.

All in all this is a saving for the financial group not having to pay everyone the higher rate if they had upped the rate on the orginal issue.

gt94sss2

https://forums.moneysavingexpert.com/discussion/comment/82098033#Comment_82098033

Yes, though you can do upto and including £100k using this method.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/82098339#Comment_82098339

Now you mention he did say that sometimes it works and sometimes it doesn't.