Top Saving Gripes

KeithEssex_2

Here are the top 3 things that annoy me about Banks & Building Societies:-

1. Treating Existing Customers worse than New Customers !

2. Introducing a new variable "high interest rate" savings account and then slowly reducing the interest rate on the old one !

3. Paying elderly savers very low interest rates for not being internet savvy (and needing a passbook) !

Anyone got any other things that wind you up ?

YorkshireBoy

4. Not e-mailing customers beforehand, or at the latest on the day, when their interest rates are changing...rather than (up to) a month later as they do now.

KeithEssex_2

YorkshireBoy wrote: »

4. Not e-mailing customers beforehand, or at the latest on the day, when their interest rates are changing...rather than (up to) a month later as they do now.

Good one - now they have email addresses for the bulk of us what can be the excuse ? And why not for the expiry of introductory bonuses too !

[Deleted User]

5. Banks try and sell you other products when you just want to fill in the form and sign up to the one you've chosen yourself.

robertjonesuk

YorkshireBoy wrote: »

4. Not e-mailing customers beforehand, or at the latest on the day, when their interest rates are changing...rather than (up to) a month later as they do now.

i understand some of your points but dont agree with all of them. as with regards to emails, for example, have you checked your market suppression marker with the bank. it happenes very often that banks dont email because you asked them not to inform you about new prodicts offers etc.

majority of the banks announce interests rate changes in national press.

dwsjarcmcd

My personal hate are those accounts that pay a decent rate, but you don't earn any interest on all of the balance during a month, if you withdraw any money at all from the account e.g. HSBC/First Direct.

KeithEssex_2

robertjonesuk wrote: »

i understand some of your points but dont agree with all of them. as with regards to emails, for example, have you checked your market suppression marker with the bank. it happenes very often that banks dont email because you asked them not to inform you about new prodicts offers etc.

majority of the banks announce interests rate changes in national press.

Good point re: communication.

But re: the newspaper - unless you happen to buy the right newspaper for your Bank (and how do you know which one that is ?) and then scan it religiously each day the chances are that you will never see the rate change being advertised. I can't recall ever seeing any of my accounts being advertised as reducing their rates ...

KeithEssex_2

dwsjarcmcd wrote: »

My personal hate are those accounts that pay a decent rate, but you don't earn any interest on all of the balance during a month, if you withdraw any money at all from the account e.g. HSBC/First Direct.

HSBC Online Bonus Saver ;-)

BruceyBonus

I tend to check this website (link below) to see if rates are changing
Interest Rate Bulletins

dwsjarcmcd

robertjonesuk wrote: »

i understand some of your points but dont agree with all of them. as with regards to emails, for example, have you checked your market suppression marker with the bank. it happenes very often that banks dont email because you asked them not to inform you about new prodicts offers etc.

majority of the banks announce interests rate changes in national press.

That is not the case, you can be sent service communications even if you have opted out of marketing services. This would be an example of a service related message so would be perfectly valid

KeithEssex_2

Counter staff who do not know their own products properly.

The Halifax tried to deny my mother the ability to move money out of her poor paying passbook account without loss of interest after they had just dropped the interest rate when their own website stated clearly that this was possible.

I had to tell them to look at the guarantee displayed on their own website :- "If we change the interest rate on your account then, for a period of 30 days from the date the rate changes, you may make a withdrawal or close your account without charge or loss of interest."

This would have cost my mum over £100 in lost interest if I had not been with her to tell them they were wrong.