B&B Internet Saver 2 - 6.40% AER - Confirmed

Victors_Bruvver

JohnDocherty wrote: »

Just spoke to their CS and they've confirmed that this was because of the interest rate cut from 6.40% to 6.15% on 31/12/07 - the emails are "just late getting out".

Is that not improper, the late notification, and should they be taken to task for this lapse? All academic to me perhaps because I read these threads but what about others who up to yesterday thought their savings were earning the higher rate?

Geoffo_M

Dean101 wrote: »

B&B launching new saving accounts at higher rates while simultaneously or soon after dropping rates on old ones is getting on my wick. I started with esavings then had to migrate to Internet Saver 1 and now am going to have to do the same again to Internet Saver 2. Here we go again - a pain in the ...!

BTW I got the email about the fall in rate on IS 1 today, 18 days or so after it actually did go down now that I've checked the website.

I also got my e-mail today as well. I noted that they made no mention of the fact that they had launched a new IS(2) at the old 6.4% rate - and just how easy it was to upgrade!

thepearce

5.1 Interest is paid on all credit balances.The interest rate on the Account is variable. If the interest rate on the Account changes, you will receive personal notification by e-mail within 30 days of the change taking effect.

https://savings.bradford-bingley.co.uk/bradfordbingleynet/related/InternetSavingsTC.asp

napoleon

by the time you move your money to internet saver 2 they'll have introduced internet saver 3 and even internet saver 4......

Dean101

Geoffo_M wrote: »

I also got my e-mail today as well. I noted that they made no mention of the fact that they had launched a new IS(2) at the old 6.4% rate - and just how easy it was to upgrade!

Yep

napoleon wrote: »

by the time you move your money to internet saver 2 they'll have introduced internet saver 3 and even internet saver 4......

Double yep.

Esavings got up to 4, anybody want to start a pool on how many Internet Savers there'll eventually be or what the next generation of accounts will be called:

ISaver or maybe following on from 'What If?', we could have

'Gotcha!' or
'Hoodwink!'

thepearce

napoleon wrote: »

by the time you move your money to internet saver 2 they'll have introduced internet saver 3 and even internet saver 4......

Very much resembling the Nationwide advert now. I've jumped out of the keep net and will put my money in ICICI or the new player at 6.5%