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Banks Ravenous For Savings


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Spent this arvo trying to move cash to the best savings accounts. Madness. Hard sell every friggin single time - even got one lady virtually screaming at me DON'T GO! One shot the IR up to 3.25% all of a sudden and then asked if that would keep me as a customer. Anybody else noticed the banks behaving like this. They appear to be ravenous for savings!

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3% or less is virtually a case of sneeze and you'll lose it.

I reckon money would be better off in some sort of imported commodity that's a necessity and doesn't go out of date. Sterling's devaluation will be much bigger than 3%.

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My STR fund is £65,000 but I have more-or-less given up on the idea of ever buying a house again, I am just spending it.

Just had a week's holiday in Oman, got a brand new desktop, laptop, digicam, me and the boys spend half our lives in Chessington and Thorpe Park.

I just don't care what happens in the recession, even if I lose my job.

And all because I don't have a mortgage.

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My STR fund is £65,000 but I have more-or-less given up on the idea of ever buying a house again, I am just spending it.

Just had a week's holiday in Oman, got a brand new desktop, laptop, digicam, me and the boys spend half our lives in Chessington and Thorpe Park.

I just don't care what happens in the recession, even if I lose my job.

And all because I don't have a mortgage.

Ah the perils of being debt free.

Debt is great for saving in my experience. :lol:

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My STR fund is £65,000 but I have more-or-less given up on the idea of ever buying a house again, I am just spending it.

Just had a week's holiday in Oman, got a brand new desktop, laptop, digicam, me and the boys spend half our lives in Chessington and Thorpe Park.

I just don't care what happens in the recession, even if I lose my job.

And all because I don't have a mortgage.

And if you run out, then may as well borrow an absolutel shitload and spend that as well.

That is the lesson the monetery authrorities have handed down. They have no idea about moral hazard and what they have unleashed, especialy as the bankers start paying themselves the bonuses again for playing with taxpayer's money.

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Spent this arvo trying to move cash to the best savings accounts. Madness. Hard sell every friggin single time - even got one lady virtually screaming at me DON'T GO! One shot the IR up to 3.25% all of a sudden and then asked if that would keep me as a customer. Anybody else noticed the banks behaving like this. They appear to be ravenous for savings!

Same here. Fixed rate bond coming to an end so wanted it transferred to current a/c to move to Ns&I. The bank teller asked me to wait and speak with the manager. He duly informed me that instead of the 1.5% on a six month he could now offer me 2.25% or 3% on a twelve month. This was Lloyds. Which bank was yours?

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Same here. Fixed rate bond coming to an end so wanted it transferred to current a/c to move to Ns&I. The bank teller asked me to wait and speak with the manager. He duly informed me that instead of the 1.5% on a six month he could now offer me 2.25% or 3% on a twelve month. This was Lloyds. Which bank was yours?

Lloyds and 4 others. Pleasantly surprised.

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wow, interesting to see that Lloyds and others have a 'playbook' now for disgruntled customers. that's monday planned.

it starts with 'can i draw all my money out today please'

edit: tuesday. i'd have a long wait monday

Edited by ɥsıɟpǝɥs
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Charging 3.5% for mortgages and 9% for personal loans, paying 0.010% gross to savers.

Tie your money up for 12 months they told me and you will receive a great return of 1.75% gross, withdraw one penny in that 12 months and a £100 penalty will be charged.

Stick it up your a**e said I as p**s taking is now the general rule of you parasites.

Brown will suffer dearly for his heinous crime against the responsible.

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Charging 3.5% for mortgages and 9% for personal loans, paying 0.010% gross to savers.

Tie your money up for 12 months they told me and you will receive a great return of 1.75% gross, withdraw one penny in that 12 months and a £100 penalty will be charged.

Stick it up your a**e said I as p**s taking is now the general rule of you parasites.

Brown will suffer dearly for his heinous crime against the responsible.

Yea don't blame you. I'm still getting 3.25% on an instant account but issue is now closed to new savers. There are still some providers paying over 3% and on that tracks the best interest rates is over 3% I can,t think of its name.......you have to give 3 months notice to access money. God what are we to do. Almost feel like buying a house!!!

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Sainsbury's bank online offered me a deal (3% vs 0.75% i think !) (under a different account name/type) when I started moving my cash, why they didnt offer the same deal to customers they already had (for over 11 years) I dont know but my money is elsewhere now and I will never go back.. :blink:

(how any of em can do loans for mega% and even mortgages for 4%+ and pay us savers bu99er all - bah..)

edit: added "(for over 11 years)"

Edited by givemethegun
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How about the West Bromwich BS 1-year bond

http://www.westbrom.co.uk/westbrom/savings...N_SRC=HOME_PAGE

I'm sticking £50K in there shortly. It requires a 1-year commitment, but pays 4.3%.

Any thoughts?

One could argue that £50k of deposits in a UK institution is 100% safe from default.

However, if this is not the case, West Brom is likely to be the first to fail.

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What I'd like to arrange is a 'threatened', collective savers "stike".

The banks want our money, why can't they pay a fair rate for it? Their best rates struggle to beat CPI so the responsible are being penalised. The low base rate is nothing to do with 'helping the economy' and everything to do with helping the banks (by that I mean Gordon's 'friends in the city').

Remembering all those people queing up outside NR makes me think - if only 5% of dabk deposits were withdrawn (threatened withdrawal?) the the authorities would have to act. Can this be organised?

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My STR fund is £65,000 but I have more-or-less given up on the idea of ever buying a house again, I am just spending it.

Just had a week's holiday in Oman, got a brand new desktop, laptop, digicam, me and the boys spend half our lives in Chessington and Thorpe Park.

I just don't care what happens in the recession, even if I lose my job.

And all because I don't have a mortgage.

Am in similar situation, and wondering whether I should blow the lot?

Just bought new laptop, not very expensive now are they?

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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