Just got this email

Dear Mr Catch22

Great news! We are increasing the interest rate on our savings accounts from 29th July 2007. Following the Bank of England’s decision to raise the Bank Base Rate by 0.25%, we’ll now be paying 0.25% extra on all our savings accounts.

And as if that is not enough, we have also got a new limited issue eBond, which offers a fantastic rate of 6.30% gross p.a./AER Fixed on a minimum investment of £1,000. Perfect if you like knowing exactly what interest you’ll earn and if you don’t need access to your bond for one year.

With such great rates, there really is no better time to switch any additional savings you may have to Bradford & Bingley. You can rest assured that your money is in expert hands, we have been awarded the Moneyfacts Best Internet Only Account Provider for the 2nd year in succession.


oh how I love BBBS, as an existing ESaver2 account holder, I like other ESaver 1/2/3 account holders will be getting 6.05%

But hang on a minute, what they did not inform me of as a ESaver2 account holder, in the email, is the fact they pay a better rate on the newer ESaver4 account. That means new and existing ESaver 4 accounts, now paying 6.01% [including 12 months bonus of .51%] will be paying 6.26%

Yer right BBBS did provide a link to their savings rate page, but come on why not just tell me outright I could get a better deal by opening a ESaver 4 account? .............................Banks don't you just love em.



Those latter account holders MUST READ THIS You can set up an ESaver4 account on line, it is set up immediately. And 24 hours later you can transfer your ESaver accounts 1/2/3 balances over to the ESaver4 account.


Now the on line process is not set up for ESaver 1/2/3 account holders who realise they are losing out on 0.25% extra rate. So here is what you do when it asks for your account number drop the 96X, and drop the three letters from the end. It leaves 7 numerals, that is what you enter. Then later on it asks if you will be transferring money by cheque or direct debit, just choose one. I know you will be transferring from accounts 1/2 or 3 too the new ESaver4 account. But BBBS did not set the process up for your benefit, as a long standing customer they would rather pay you less interest on your money. And if you do not enter one of the aforementioned you will not be able to progress in setting the account up.

Now I must admit I got all the set up information from BBBS customer services, when I rang them to see if I could transfer to an ESaver4 account, a very helpful lady she was. But it does not belie the fact BBBS policy is in my opinion, being less than honest with their existing customers . However if you suss this fact out, they will tell you how to get around the on line application process.

Comments anyone?

PS:Here is another tip, to contact them they offer the number 0845 6017802, yer right 3 or 4p per min? No thanks
0800112333 SAYNOTO0870.com

They are also playing funny games on ISAs. I have a B&B eISA but now bizzarely it is not available for new customers. I hope the eISA also gets the full .25% increase.

Yes their ESav ISA's [no longer available] will be paying 5.80% as of now, I assume it will be going to 6.05% on 27th July. They do however have a Fixed rate ISA [issue 8] now paying 6.15% Issue 8 ISA of course if rates go up more your snookered, there again if they fall your in at a fixed rate for twelve months.

I'll be ringing them tomorrow, and just seeing what our 05/06/07 cash ISA's are paying now, and what will be paying come 27th July. I reckon it will be 6.05% but I'll check, you just cannot trust banks really.

Fixed rate ISAs seem pointless especially if as interest rates are on the up anyway - you might get a better rate if you stick with variable. Also what happens when your B&B Fixed rate ISA expires ? I think they have something called an ISA maturity account with a rubbish interest rate.

Also they dont allow transfers from eISA to fixed rate ISA anyway.

I wont be fixing, I just want a definitive answer as to what our ISA's will be paying.

Back to the on line account swap process, for those who may be interested. On registering for the new ESaver4 account, you don't see it listed instantly with whatever other accounts you hold with BBBS. But on logging in the next day it was there. To transfer money in from your older ESaver account, go to that account, as it gives you the option to transfer out to the new ES4 account. Only option to transfer in from the new account was by way of the nominated external bank account.

Not sure I see how you get 6.26%, seems to say 6.01% here for E 4, see link http://www.bradford-bingley.co.uk/savings/...t/esavings4.asp

B&B eISA (not available to new customers) has just gone up from 5.8% to 6.05%.

I'd never save with a company who aggressively push BTL, even if it means I might get a few .1% higher savings!

that's because you obviously did not read the post I opened the thread with. On the first line in the pasted email it states rates will rise on 29th July.

Pay attention at the back please

Interesting. On Working Lunch a few days or so ago, they said that B&B haad doubled their mortgages in the last year.

So they like BTL and over valued ones to boot.

Methinks I should stay away from B&B!