Nominate the worst saving account

avantra

We always look for the best saving vehicles but I read today that there are some really miserable saving accounts out there, can anyone here shed some light on the worst saving account in the UK today, the account that will help you loose money the fastest?

... or maybe I should get a hobby..:p

[Deleted User]

Nice idea for a thread

What about HSBCs Flexible Saver:

- Interest for up to £10,000 is 2.00 % AER

baby_boomer

Dudley Building Society's oddly named "Extra Special Account" :rotfl:

0.1% on £499 and 1.5% on £9,999 :eek:

Some advert for mutuality!

jimbow25

Lloyds TSB's one year monthly saver paying 4.55% (compared with the old 8%) must be one of the most pointless accounts ever offered.

It's not even their best rate savings account, even with all the strings attached to a regular saver- I can't believe their staff could promote it with a straight face!

Also their Guaranteed Tracker which pays 2.9 to 3.65%- top rate only on balances over £100k...

baby_boomer

Dudley BS also stars with its Bonus [monthly] Saver

The actual rate is 0.1%.

Fall foul of the t&cs and you forfeit the 4.65% bonus.

Lousy overall rate and incredible penalties on top .

McSaver

Halifax Liquid Gold. Pays a very dismal 0.50% Gross.

regularsaver1

McSaver wrote: »

Halifax Liquid Gold. Pays a very dismal 0.50% Gross.

with common sense this is not a savings account - many people use this as a bank account , for their regular credits, like salary or pension - because they like a passbook rather than a card, but its not a savings account really

Meltdown_2

regularsaver1 wrote: »

with common sense this is not a savings account - many people use this as a bank account , for their regular credits, like salary or pension - because they like a passbook rather than a card, but its not a savings account really

The problem is that many (often elderly) people think it still is - it was advertised as one when "Arfur Daley" was on TV ...
When Halifax decided to start reducing its rates relative to other accounts, there can surely have been only one reason - to fleece those who (for whatever reason) were not keen on changing accounts. It's policies like this that get banks a bad name.

Toastie

Post Office instant saver - 5.75% (constantly up and down - annoying)

Not a bad rate cept - £1 fee for withdrawing after 6withdrawls ... plus you have a flimsy piece of plastic called a 'withdrawl card'

And on top the man over in India told ME all my details and if they were correct when confirming my account - shocking ...

Thus worst savings account and admin

regularsaver1

Meltdown wrote: »

The problem is that many (often elderly) people think it still is - it was advertised as one when "Arfur Daley" was on TV ...
When Halifax decided to start reducing its rates relative to other accounts, there can surely have been only one reason - to fleece those who (for whatever reason) were not keen on changing accounts. It's policies like this that get banks a bad name.

but there are others to choose from

a suggestion is made sometimes, but sometimes people don't want to change

avantra

Meltdown wrote: »

The problem is that many (often elderly) people think it still is - it was advertised as one when "Arfur Daley" was on TV ...
When Halifax decided to start reducing its rates relative to other accounts, there can surely have been only one reason - to fleece those who (for whatever reason) were not keen on changing accounts. It's policies like this that get banks a bad name.

A&L without blinking marketing their Easy Saver as: "Make your savings work harder with a great rate"

It is 2.95% bottom of the hip.