My Variable Isa Saver was 0.1% gross p.a with a high street bank i've had it since 2002 totally forgotten about having the isa!!
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Anyway i've just contacted the bank and i've expressed how low it is and i'm looking into transferring it and needless to say i was put on hold for ten mins then explained the whole situation again and put on hold again for another ten mins!!! Why don't they have info to hand?!! Outcome is they are willing to increase it to 2.40% which is alot better but i would like to ask if anyone knows of better rates with other banks... I'm on variable isa which i'm not bothered if i lock money in for a few years to get a better interest. The girl on the phone did not give me any choice and neither did she explain different isas on the market!!
Responses (7)
Hi Serena. There is a posting about all this which I put on about two week's ago and there are some good replies.
Alternatively:- Have a look at money.co.uk's Top 10 cash ISA table as well as looking at promoted ones.
oops, at least you can sort now Serena!
Ah that was a lucky find Serena.I cashed mine in a while back as it was going nowhere.
Hope you have better luck with your new investment.
It's such a risky business your never 100% sure your doing the right thing, well i am anyway!!
Ok, so you are the same as most ppl in the UK, they forget, they stay with the same suppliers - BT, British Gas, same bank for 20 yrs, same insurance company, etc etc. People like you are being roundly screwed by these companies, as you have belatedly discovered. As a point of principle, for your personal integrity, you should not want to even consider staying with a bank who have treated you as an idiotic fool for so many years. The fact you even consider their offer, after they have burgled you year upon year maybe says volumes about your gullibility. Sack them, remove your money, get some self-respect back. Go to "Martins money saving expert" - paste it in your browser search space, and see all the best offers. For Gods sake wake up and see banks for what they really are.
Hi ollygark, again your answers are helpful in that you're making some very good points, but could you please try to word them more politely!
No, why should I be polite about financial institutions who exploit people - are you the polite police ?
I think it was impolite to refer to Serena as gullible and as someone who has no self-respect. I agree with your comments about banks etc! :-)
Yes I agree Ollygark, issues re banking practices often raise the old BP but on here we do like to discuss things with at least a modicum of respect towards each other. However thanks for your input re the former.
Oh my what strong words, ollygark!! I've never had words exchange with you and this is the first and i do not feel at ease with your tone! I am not guliable the fact that i have forgotten my account does not make me guliable, forgetful maybe!!! Anyway its my mistake for not keeping a closer eye on my own affairs its not the banks jobs yes if they can get away keeping my money for longer on a low rate then i have myself to blame!!! I'm not in favour of the banks but at the end of the day we should take resposibility for our own money!!!
Crikey, just as well you found it!
I keep a spreadsheet showing where my money is disbursed, but wondered if I'd missed any from before I started maintaining one and so tested the lost assets register to see if I had any accounts that I'd forgotten about. Seeing as it failed to pick up any accounts that I already knew about, I really doubt its efficacy!
I think i will keep a written copy of accounts. We always have to refer back to pen and paper who would think that with all the technology in this day and age!!
Serena. Just to let you know that Clydesdale Bank fixed-rate saver is paying 4.70%, Kent reliance fixed-rate Isa pays 4.35% and Halifax Isa 4.40% over five years.
Yes, you should be aware of the investments you hold. Sites such as iii.com allow you to enter all of your investments, and track them daily if you wish. The british banking sector makes billions on ppl who make an investment and then forget about it. They will never ever act in the interests of their customers, they will always act to to improve their profits, at the expense of their customers. That's british banking culture - screw the customers. It is incumbent on us to invest, then monitor what is happening to our money, and move it around to the best rate. People still put too much trust in the banks - they will rip you off at every opportunity. Want the best rates ? Always try Martins money saving supermarket.com. Unbiased advice, always up to date.
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Thanks Sabre. I'll have a look i've not given my bank the go ahead yet want to check it out. I'm getting there!! Slowing but surely!! Lol
In fact i do remember that posting as i did contribute to it, in fact that was what highlighted to me regarding the isa!! I've had it since 2002 and forgot all about it!! :)