Received a letter from Barclays today telling me that the
interest rate on my savings account had changed. I still have a
savings account there, with about a fiver in it and I have not
bothered to close it. They have apparently done away with a
staggered interest rate and now offer a single rate for their
savings. This new rate is 0.15%, yes that is zero point one five of
a percent on their savings account! And they wonder why I
don’t bank with them any more. Smile have 3.05% on
the current account.
I urge you all to move your current accounts, it is so simple, if you are with one of those old school banks that charges you for holding your monies. Nobody can complain about the multi billion pound profits of the banks when they are paying over 6% on their mortgage, and getting less than 1% on their savings.