Savings interest rate thread
Discussion
Timothy Bucktu said:
I tried to apply for a Metro Bank savings account, and it rejected me with no reason!
No mortgage, homeowner, employed, decent wage, loads of savings accounts already, no loans?
I think I may have a bad credit rating becasue I've never had any debt to my name. It took a couple of attempts to get accepted for a SIM with O2.
No mortgage, homeowner, employed, decent wage, loads of savings accounts already, no loans?
I think I may have a bad credit rating becasue I've never had any debt to my name. It took a couple of attempts to get accepted for a SIM with O2.
The much missed Duke of Edinburgh, sometimes joked about exactly the same problem.
Did not own a home, no paid employment, no hire purchase, marked as a bad credit risk.
Computer says, "No".
That joke was not one from the gaffe section of his joke book though. Do you remember the fusebox at an electronics factory?
Jon39 said:
Timothy Bucktu said:
I tried to apply for a Metro Bank savings account, and it rejected me with no reason!
No mortgage, homeowner, employed, decent wage, loads of savings accounts already, no loans?
I think I may have a bad credit rating becasue I've never had any debt to my name. It took a couple of attempts to get accepted for a SIM with O2.
No mortgage, homeowner, employed, decent wage, loads of savings accounts already, no loans?
I think I may have a bad credit rating becasue I've never had any debt to my name. It took a couple of attempts to get accepted for a SIM with O2.
The much missed Duke of Edinburgh, sometimes joked about exactly the same problem.
Did not own a home, no paid employment, no hire purchase, marked as a bad credit risk.
Computer says, "No".
That joke was not one from the gaffe section of his joke book though. Do you remember the fusebox at an electronics factory?
OP here, glad to see the post has taken on a new dimension.
I've fallen out with Chase it's a good while not market leading rate on savings but they've handled a payment dispute when my card fell into the wrong hands really poorly so they can shove it.....
I looked back at Santander but they've dropped that account that started this thread to 1.19%. I've just opened a Metro account. Only problem with instant access savings these days is the tax threshold. I got caught out last year and opened an ISA.
I've fallen out with Chase it's a good while not market leading rate on savings but they've handled a payment dispute when my card fell into the wrong hands really poorly so they can shove it.....
I looked back at Santander but they've dropped that account that started this thread to 1.19%. I've just opened a Metro account. Only problem with instant access savings these days is the tax threshold. I got caught out last year and opened an ISA.
a311 said:
OP here, glad to see the post has taken on a new dimension.
I've fallen out with Chase it's a good while not market leading rate on savings but they've handled a payment dispute when my card fell into the wrong hands really poorly so they can shove it.....
I looked back at Santander but they've dropped that account that started this thread to 1.19%. I've just opened a Metro account. Only problem with instant access savings these days is the tax threshold. I got caught out last year and opened an ISA.
People chase (no pun intended) the best rate and then once they get their fingers burnt they realise that other major brands are perhaps not so bad after all…same with people who chase the lowest insurance premium…all great until it comes time to claim.I've fallen out with Chase it's a good while not market leading rate on savings but they've handled a payment dispute when my card fell into the wrong hands really poorly so they can shove it.....
I looked back at Santander but they've dropped that account that started this thread to 1.19%. I've just opened a Metro account. Only problem with instant access savings these days is the tax threshold. I got caught out last year and opened an ISA.
NRG1976 said:
a311 said:
OP here, glad to see the post has taken on a new dimension.
I've fallen out with Chase it's a good while not market leading rate on savings but they've handled a payment dispute when my card fell into the wrong hands really poorly so they can shove it.....
I looked back at Santander but they've dropped that account that started this thread to 1.19%. I've just opened a Metro account. Only problem with instant access savings these days is the tax threshold. I got caught out last year and opened an ISA.
People chase (no pun intended) the best rate and then once they get their fingers burnt they realise that other major brands are perhaps not so bad after all…same with people who chase the lowest insurance premium…all great until it comes time to claim.I've fallen out with Chase it's a good while not market leading rate on savings but they've handled a payment dispute when my card fell into the wrong hands really poorly so they can shove it.....
I looked back at Santander but they've dropped that account that started this thread to 1.19%. I've just opened a Metro account. Only problem with instant access savings these days is the tax threshold. I got caught out last year and opened an ISA.
My issue with Chase is I got in touch with them as soon as I saw iffy transactions as they were pending I was told they'd be cancelled and the moony would go back in a week. 8 days nothing happened so I got in touch again 'oh no sir you have to get in touch with the vendor.'
I've current accounts with Santander, First Direct and a Buisness account they're all much of a muchness and equally s
t if you've a problem IME.a311 said:
It's not exactly apples and apples though IMO. The high street bank is dead/dying maybe of you've a branch you can go to you can rant at someone face to face, I'm 40 I can imagine it was quite nice having a relationship with a bank manager and using them for everything. Who knows we may go back to a more customer focused model one day.
My issue with Chase is I got in touch with them as soon as I saw iffy transactions as they were pending I was told they'd be cancelled and the moony would go back in a week. 8 days nothing happened so I got in touch again 'oh no sir you have to get in touch with the vendor.'
I've current accounts with Santander, First Direct and a Buisness account they're all much of a muchness and equally st if you've a problem IME.
I too have accounts with all those you have cited and am not surprised at your summary except for the inclusion of First Direct, who I must say have always been head and shoulders above anyone else I have held accounts with. My issue with Chase is I got in touch with them as soon as I saw iffy transactions as they were pending I was told they'd be cancelled and the moony would go back in a week. 8 days nothing happened so I got in touch again 'oh no sir you have to get in touch with the vendor.'
I've current accounts with Santander, First Direct and a Buisness account they're all much of a muchness and equally s
t if you've a problem IME.a311 said:
I looked back at Santander but they've dropped that account that started this thread to 1.19%.
They upgraded the rates with every issue, but obviously you need to keep on top of changes if you want decent rates, hence why so many posters keep this thread updated.The Issue 3 is currently paying 5.08% on monthly interest.
The Leaper said:
My NS&I 65+ Growth Bond has just matured; it had a rubbish rate of 0.4%. I have renewed the Bond for a 3 year term at a rate of 5.80%, happy with that.
That sounds like a right result today for a 3 year bond.That said, if you were getting 0.4% until now that can't have been much fun for the last couple of years.
981Boxess said:
The Leaper said:
My NS&I 65+ Growth Bond has just matured; it had a rubbish rate of 0.4%. I have renewed the Bond for a 3 year term at a rate of 5.80%, happy with that.
That sounds like a right result today for a 3 year bond.That said, if you were getting 0.4% until now that can't have been much fun for the last couple of years.
It has been interesting looking at my wife's and my own various savings products that have matured recently, and also those maturing in the near future, and the old and new rates are widely different.
The higher rates now, coupled with fiscal drag and the lowering thresholds, means there's a lot more tax that will be collected on savings at present rates. Makes the Chancellor happy, I suppose.
R.
The Leaper said:
It has been interesting looking at my wife's and my own various savings products that have matured recently, and also those maturing in the near future, and the old and new rates are widely different.
The higher rates now, coupled with fiscal drag and the lowering thresholds, means there's a lot more tax that will be collected on savings at present rates. Makes the Chancellor happy, I suppose.
It has been a bit like the wild west for rates in the last 2/3 years but the party is definitely over now, hopefully the journey down the other side of the hill will be slower.The higher rates now, coupled with fiscal drag and the lowering thresholds, means there's a lot more tax that will be collected on savings at present rates. Makes the Chancellor happy, I suppose.
If the rates currently being offered for fixed rate bonds is anything to go by that will hopefully be the case.
Shnozz said:
I too have accounts with all those you have cited and am not surprised at your summary except for the inclusion of First Direct, who I must say have always been head and shoulders above anyone else I have held accounts with.
I have held a First Direct account for twenty plus years, and have noticed recently a drop in service standards, particularly when contacting First Direct by telephone. This possibly may be due to staff working from home, and/or non UK staff now being employed. That, together with the attraction of other banks offering interest on current accounts, and cash-back, makes me very tempted to close my long-standing account with First Direct.Wings said:
I have held a First Direct account for twenty plus years, and have noticed recently a drop in service standards, particularly when contacting First Direct by telephone possibly may be due to staff working from home, and/or non UK staff now being employed
Must admit I proceeded very cautiously when I phoned FD last month and got someone who's first language was not English. I did a double check on the phone number. It is a sad state of affairs when speaking to someone with a foreign accent from a certain part of the world and your first thought is "am I being scammed?"
To be fair, it is rare I phone FD. This was the first time in three years, most stuff I do online.
FD aren't quite as good as when I joined them in 2014, but they're still a hell of a lot better than most companies I deal with regularly. Just the fact that you are rarely on hold for any significant length of time is a huge plus IMO. (Although I feel like I never used to have to wait at all...)
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