Bradford & Bingley drops interest on their easy access eSavings account

Lugh_Chronain

Previous rate on the eSavings account was 6.40% Gross AER

The new rate has dropped to 6.15% following the Bank of England’s decision to decrease the Bank Base Rate by 0.25%.

Thought you might like to know this if you've an eSavings account with B&B.

roddydogs

Coventry BS has also done this without sending a e-mail, or a letter their over 60 IA ac is now 6.25, compared with NR INCREASING theirs to 6.49 +bonus for 3 months

LittleVoice

roddydogs wrote: »

Coventry BS has also done this without sending a e-mail, or a letter their over 60 IA ac is now 6.25, compared with NR INCREASING theirs to 6.49 +bonus for 3 months

That is the rate for the 60+ Saver (2) account but if you have their 60+ eSave account (now closed), the rate is still fixed at 6.4% (up to the one-year anniversary point any way).

And clearly NR is a special, more individual, case!

SilverScooby

B&B has dropped the interest rate on the old account but opened up a new one which gives 6.40%

If you look on post 39 of this thread you'll find handy step-by-step instructions for how to open a new one and then transfer the balance over.

http://forums.moneysavingexpert.com/showthread.html?t=659273

I opened mine yesterday, its now showing when I log in, so I'm just about to complete the process.

A bit of a pain, but better than Sainsburys who just cut the rate by 0.25% full stop end of story. Think I'll now move a load over from Sainsburys to B&B....

Lugh_Chronain

Thanks SilverScooby, I just opened an account and will transfer my funds ASAP. Now all I have to do is close my A&L account as it's a pain when you need to move money out as you lose interest the month you do this. I lost a whole months interest a couple of months ago when I moved money to my current account. I think I might wait 'til they drop their interest though and then I'll probably open an ICICI account.

Thanks again