Nominate the worst saving account

cepheus

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.

Re-Liquid gold I have been trying to get my mother to switch her money out of this for ages, but it is a tough task. Wish she would shift it or spend it!The staff just say elderly people like to see the book with all the transactions. The irony is there is less detail on there than my current account, it is almost impossible to see where the money is coming and going to.

Banks should have to advertise their rate relative to inflation. For an old persons spending I guess liquid gold is about -10%!