AA interest dropped on Internet Savings Account

Dagobert

Yesterday (11th July) I received a letter from the AA stating that the interest dropped from 5.31% to 5.21% from 24th June.

Bloody cheeck informing their customers 2 weeks after the event.

Stonk

Get used to it, I'm afraid. Most banks say they'll let you know within 30 days - that's 30 days afterwards. Wouldn't it be great if the Banking Code said they had to give 30 days prior notice? Or even 7 days would be nice.

It was posted on their website immediately, but obviously that's not going to be noticed by many people. The best place to learn of interest rate changes is ... HERE! A thread popped up quite quickly.

Dagobert

Yes, you're right, this is the best place.

But how on earth do you manage to keep an eye on this forum? It seems rather time-consuming to browse this forum every couple of days. Certainly when you're on a slow dial-up (not of the UK are covered with broadband!).

Stonk

Good point. I spend too much time on here. And there's so much going on it's easy to miss posts.

I often wonder about setting up a simple website with information like this. But I'd have to be very restrictive indeed about my coverage (e.g., "major savings account rate changes"), or it would end up taking even more time!