19-01-2014 10:38 AM - edited 06-02-2014 08:32 AM
21-11-2013 04:09 PM
Just received your 'HELPFUL' email telling me that my E-ISA interest rate is plummetting once again. Second time in just over a year. It's great to hear that you are 'SIMPLIFYING' your interest rates! Tell the truth. We are not that daft. You are 'REDUCING' interest rates to your loyal customers. 3% to 1.5%. You get money for 0.5% (for the last few years from the Bank of England and you pass it on to us mugs for a loan rate of 19%. As 'DAVE' says, "You and the Energy suppliers are all in this together'.
I hear a Spanish High St. bank is giving 3% on current accounts. TIME TO SWITCH!
and to think I've been with you since 1972. Need my head looked!
21-11-2013 07:55 PM
Ditto everything you have said Pedro, Natwest helpful banking my arse....you are a joke!
If I wanted a cash isa with a really poor interest rate I would open one.....but I don't!
You are going to see people leave you in droves....I hope you are happy!
Whoever thinks this is a good business idea needs shooting; my dosh is going to a helpful bank
21-01-2014 09:36 AM
Thanks for your comments. Are you saving for anything in particular?
You are quite right, the rates will move to 1.50% for you at the end of the month. Rates for instant access savings aren’t great across the industry at the moment I’m afraid.
There are alternatives such as Stocks and Shares ISAs or Fixed term investments which might be worth looking into. Have you checked our Savings pages on our website? These might be able to help understand your options.
Are any of our other community members saving? How are you getting the most for your money?
21-01-2014 04:49 PM
Many thanks Sally.
So they are dropping... How did I miss that?
Well, this is a shame, especially as I was just about to add a further £53,000 to my accounts.
The £53k I would have put part into both my wife's and my ISA's with the rest invested somehow.
However I'm not so sure about the entire £103k now.
I will have to look at funding it elsewhere.
26-01-2014 11:25 PM
Well, it does not surprise me there were no further replies.
I also got the figure wrong for additional monies to deposit... It was not £53,000 but nearly £65,000.
So, with nothing positive the bank can offer me I'll deposit this £65k in either tomorrow or Tuesday and then look at moving it to another financial institution that can provide me a better interest.
No way am I accepting a drop in my ISA as well so I shall move that £50k as well.
Thats £115,000 you will lose from me NatWest, a mere drop of small change to you I am sure and as such why we do not get any follow back from NatWest in trying to keep it's customer.
27-01-2014 10:16 AM
Morning Mike -
I’m sorry you’re unhappy with the changes to the interest rates, we wouldn’t want to lose you as a customer because of this.
Have you had a chance to look at the other alternatives mentioned last week? Please do get in touch to discuss if you need any more information, or pop into your local branch and they can run you through your options.
Let us know how you get on.
27-01-2014 03:53 PM
Thank you Sally.
Yes, I did check the other options but nothing grabbed my attention.
But my question is 'why should I have to look at other means of investing'? I did not change anything, NatWest altered how I invest so why should I then have to look elsewhere?
Not only that but I fail to see why the interest rates have been reduced for higher Cash ISA account holders, especially as there is talk once unemployability falls below 7% the interest rates will increase.....
One would believe this latest move in reducing rates is a business move by NatWest to cushion rate rises when rates do increase.