MSE News: Lloyds and Bank of Scotland to cut interest on current accounts

Former_MSE_Callum
Former_MSE_Callum Posts: 696 Forumite
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in Budgeting & bank accounts
Two decent interest-paying current accounts from Lloyds and Bank of Scotland will have their rates cut from July, MoneySavingExpert can reveal - while Halifax is to increase the monthly fee for its Ultimate Reward packaged account...
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'Lloyds and Bank of Scotland to cut interest on current accounts'
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Comments

  • ceredigion
    ceredigion Posts: 3,709 Forumite
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    Three days late
    http://forums.moneysavingexpert.com/showthread.php?t=5827731
  • AirlieBird
    AirlieBird Posts: 1,046 Forumite
    MSE_Callum wrote: »
    MoneySavingExpert can reveal
    Really? You mean Lloyds didn't reveal it themselves by publishing it on their website last week?
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
  • Gers
    Gers Posts: 12,010 Forumite
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    AirlieBird wrote: »
    Really? You mean Lloyds didn't reveal it themselves by publishing it on their website last week?


    The changes, announced in the small print on the banks' websites and first spotted by sharp-eyed MSE forum users

    This is at least 10 characters long even if MSE doesn't recognise it as such!
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    AirlieBird wrote: »
    Really? You mean Lloyds didn't reveal it themselves by publishing it on their website last week?

    I thought that. Seems very odd to say they can reveal something that is effectively in the public domain by virtue of being published quite prominently on the main current account page of financial institutions.
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    ceredigion wrote: »
    Three days late
    http://forums.moneysavingexpert.com/showthread.php?t=5827731

    To be absolutely fair (and I know its good fun to notice how the forum gets bored of a subject before MSE launch it as breaking news), this other forum thread did appear at 9.29pm on Friday.

    Not working weekends would be a pretty good reason for them to be late on this one.
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
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    I'm pleased I didn't switch to BoS in November.
  • niktheguru
    niktheguru Posts: 1,476 Forumite
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    Looks like tesco has acted.....their internet saver has just dropped to 1.18%!
  • RG2015
    RG2015 Posts: 5,900 Forumite
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    edited 17 April 2018 at 10:29AM
    niktheguru wrote: »
    Looks like tesco has acted.....their internet saver has just dropped to 1.18%!
    Hi niktheguru,

    Many thanks for alerting us to this news.

    I have just checked and I see that Tesco Bank has reduced the 12 month bonus but not the underlying rate. Hence it is 0.55% plus a bonus of 0.63%

    Existing account holders will not be affected and I am still hoping that the BOE will increase the base rate soon and Tesco Bank will likewise increase their underling rate.

    The link below shows the historical rates for the bonus. You will need to scroll down to the internet saver and then click on introductory bonus.

    https://www.tescobank.com/savings/previous-interest-rates/
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