Chit Chat
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20 Aug 16
14:02
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Date Joined:
22 Sep 05
Slashing the 3% rate in Half , from November will only be 1.5% , on top of the £5 fee they've already added
Is it worth having a Bank account at all nowadays ?
They'll be charging us soon
Is it worth having a Bank account at all nowadays ?
They'll be charging us soon
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Replies: 9
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I've got an ISA and 123 account. Will be moving both. Prob not to a bank account tho.
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This could happen sooner than you think.
Some banks are already charging corporate customers to deposit cash and there's even a bank in Switzerland that charges private clients........ |
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It's a bit of a blow. The £5 was always likely and isn't that significant if you keep a lot in it but this rate cut is going to cost me £20 per month on average. Doesn't take effect till Nov. There are better options at the moment I think but only up to about £5k.
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Could have an effect on Betfair?
Carrying customer deposits? Will they be charged? In which case i suspect customers may find their commission RATE going UP |
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Somebody on one of the financial websites worked out that after the santander increase to £5 a month that anyone with less than 9K in would be worse off.
Well a rate halfing would double that meaning 18k and under is pointless. Since they have a limit of 20k I presume that will go will it? If not people will just close accounts wholesale. |
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*anything paying 1.2% and over would beat the 123 account
maggots |
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There are better options at the moment I think but only up to about £5k.
Yep that's the problem salmon, becomes a right game they want Direct debits & £1500 month paid in just to pay you 5% on 5k it's hardly worth the effort £5 was minimal but now you're only getting £20 month total for 20k , which works out 1.2% + a few pennies back on bills Could have an effect on Betfair? Carrying customer deposits? Will they be charged? Betfair bank with Santander , Lucky  |
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RBS to start charging large UK clients to hold cash - negative interest rates?
BOOM |
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Fat larry tine
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