National Counties ISA 6.26% to be withdrawn Wednesday

BruceyBonus

GUARANTEED ISA 2008/2009 paying 6.26% will be withdrawn w.e.f. 28.5.08.

Make sure you get in quickly if you intend to open this Cash ISA this year as it is being withdrawn on Wednesday.

Milarky

.. (by 0.25%) w.e.f. 1 July 2008

Nice of them, however, to mail this change before it happened (and other rate changes only a few days after they were made). Not on the website yet...

martinman3

Milarky wrote: »

.. (by 0.25%) w.e.f. 1 July 2008

Nice of them, however, to mail this change before it happened (and other rate changes only a few days after they were made). Not on the website yet...

That really is sneaky. I wonder how many people have been caught out by that and assumed that the 6.26%AER rate would last slightly longer. In the end it seems they suckered people for two months at the time when new cash ISAs are traditionally opened. The guarantee was pretty feeble anyway and still could fall to 5.4% but I bet many didn't notice that.

It reminds me of the Nationwide ad about the "big fat juicy worm" rate then later putting them in the keep net.:)

BruceyBonus

martinman3 wrote: »

That really is sneaky. I wonder how many people have been caught out by that and assumed that the 6.26%AER rate would last slightly longer. In the end it seems they suckered people for two months at the time when new cash ISAs are traditionally opened. The guarantee was pretty feeble anyway and still could fall to 5.4% but I bet many didn't notice that.

It reminds me of the Nationwide ad about the "big fat juicy worm" rate then later putting them in the keep net.:)

This is actually their response to the BoE rate decrease. They announced this at the start of May anyway. Other providers all dropped their rates at the start of May.

martinman3

BruceyBonus wrote: »

This is actually their response to the BoE rate decrease. They announced this at the start of May anyway. Other providers all dropped their rates at the start of May.

What was the purpose of not passing the rate decrease for two months except to entice savers with a higher rate than could be sustained until the next base rate change ?

They didn't allow transfers in so the maximum anyone could have put in it was £3600 giving them an extra 0.25% for two months which is an extra £1.50 for the maximum contribution. Big deal.