Club Lloyds and BOS dropping rates to 1.5% on 1st July
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Looks like I'll be closing or emptying one of my two BOS Vantage accounts.
Two of the DD's are funded by charity direct debits so one will have to go. The two charities will both be in my will so they won't lose out in the long term.
I'll move the £5k into my Birmingham Midshires 1.45% account for the time being.
A new switching bonus would be good but I don't think there are any that I haven't had.
BOS has been my main Bank for over 25 years but they aren't offering much these days.0 -
surreysaver wrote: »I'll keep for the time being - don't forget access to the monthly savers. If the BoE base rate goes up again, that will put my mortgage up to 1.5%, so using funds to offset that would be better as it won't then be taxable
You can have access to the (currently) 2% fixed BofS monthly saver without having a BofS current account. But access to the (currently) 3% fixed Club Lloyds MS depends on having a Club Lloyds current account. Worth holding the Club Lloyds current account, even with nil balance, to keep access to the MS. Just remember to fund the current account with £1500+ each calendar month (with immediate transfer out) to avoid £3 monthly fee,
EDITED: Apologies, you do need a BofS current account to access the MS (I was thinking of the Halifax RS which isn't linked to a current account) But you would only need to keep one of your BofS current accounts open, with nil balance.0 -
"David Partington" will be on here in a minute asking us to phone Lloyds on mass to complain. *
* Topical humour, may not be relevant to all readers!
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:(Not good news this. It wasn't too long ago this account was paying 4%0
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Tesco and BOS must be having a right laugh at us!
Oh well. No point me worrying about my 3rd BOS account then.
A charity was getting the interest from one of my BOS accounts too0 -
Deleted_User wrote: »DITED: Apologies, you do need a BofS current account to access the MS (I was thinking of the Halifax RS which isn't linked to a current account) But you would only need to keep one of your BofS current accounts open, with nil balance.
Ha! You had me worried there - I thought I had mis-remembered my T&Cs! I have Halifax and BoS Regular / Monthly Savers - I was aware of the Halifax one not requiring a current account. I also have both Lloyds Monthly Savers - the one requiring a current account, and the one not.
I suppose it is always worth people (for the time-being) treating these 1.5% accounts as instant access savers from July, as long as the direct debit and minimum pay-in requirements are met.I consider myself to be a male feminist. Is that allowed?0 -
I think June/July time will be bad for me - three BoS and one Lloyds account dropping from 2% to 1.5%, Nationwide drops from 5% to 1%, and the £10pm cashback on my TSB account finishes!I consider myself to be a male feminist. Is that allowed?0
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Well that's pants news for a Saturday morning.How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)0
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That saves me worrying about the DD's . Had set some up but they dont seem to be taking any money at the moment. Just says frequency "not known" and nothing deducted. But was suppose to start 1st April. Ah well. Another few charities losing out0
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