We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Saga Savings Account
Annie777
Posts: 1 Newbie
Hello. I have specifically joined the forum to complain about Saga. Their easy access account had been advertised as one of the best interest rates. We applied online successfully and then received a letter through the post requesting ID/cheque/signatures which we dutifully sent off. It has taken Saga three weeks to now write back to say that this account has been withdrawn and have returned all our paperwork. A complete waste of our time and a waste of making any money from interest! Not happy at all and using the forum to moan!:(
We will ensure we now avoid Saga at all costs.
We will ensure we now avoid Saga at all costs.
0
Comments
-
Now you've joined you might do well to read the threads here about getting the best rates.
No idea what Saga were offering but I bet it wasn't as high as the 5% current accounts so they may have done you a favour!Remember the saying: if it looks too good to be true it almost certainly is.0 -
They were offering 1.55% until earlier this month, which was competitive against other traditional instant access savings accounts, but clearly some way short of what can be achieved with the best current accounts just now.No idea what Saga were offering but I bet it wasn't as high as the 5% current accounts so they may have done you a favour!
As far as OP is concerned, I guess that whenever a product is withdrawn there will always be people who just miss out and who therefore feel (understandably) aggrieved, exacerbated by a slow return of documentation, etc, to advise them of this, but it's pretty poor form if they actually confirmed acceptance, even if subject to ID checks, so maybe worth a formal complaint....0 -
Unless it was a fixed rate account it probably isn't worth complaining, the rate will drop anyway soon after they've got enough investors.0
-
erm?
Fixed rate? Drop?0 -
Yes, I wasn't meaning that OP should try to cajole them into reversing their decision not to allow the application, which is likely to be (a) unsuccessful and (b) sub-optimal anyway, but that if questionable practices have caused inconvenience, loss of interest, wasted time, etc, then it should be possible to make a case for some sort of recompense.Unless it was a fixed rate account it probably isn't worth complaining, the rate will drop anyway soon after they've got enough investors.0 -
Hello Annie777,
I would like to help you with your complaint. Please message me your contacts details.
Kind regards, David.“Official Company Representative
I am the official company representative of Saga. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards